4.12 Multiple choice questions 1. What is a limiting factor? a. A factor that limits progress b. A factor which may limit the activity of an entity, often where there is a shortage of supply. c. A factor that limits a project d. An element of the planning process 2. What is a competence? a. That which the organisation does well, or better than its rivals b. The ability of the organisation c. How effective the organisation is. d. The skills of the organisation om 3. What is the significance of the value chain? a. To help the organisation know its customers b. It gives the company its net worth c. It gives us a view of the firm and what it does, and the way in which it organises and performs its activities. If the customer pays more than the cost of these activities, the firm is profitable. The company should always try to combine its activities in new or better ways. d. It shows how much the organisations product and services cost. 4. Product class, product form, and brand are the same True .......... False..... 5. List the stages of the product life cycle. a. Growth, introduction, maturity, decline b. Decline, introduction, maturity.growth c. Maturity, growth, introduction, decline d. Introduction, growth, maturity, decline 75