Question Completion Status: QUESTION 63 Match each strategy framework with the type of analysis for which you are most likely to use it. SWOT Framework 1. Determine whether or not diversification (i.e., entering a new product/service) will create value for a firm PEST Analysis Porter's Five Forces 2. Consider the key sources of competitive pressure within an industry to understand how they impact overall industry structure and profitability VRIO Framework BCG Matrix 3. Evaluate a potential partner in order to manage alliance risk Four C's Framework 4. Represent a firn's different businesses graphically in terms of key variables in order to determine their potential Porter's 3 Essential Tests Strategic Groups 5. Conduct macro-level environmental scanning to keep a firm aware of what's happening in the world 6. Recognize patterns of competition in an industry and understand a firm's strategic positioning relative to its competitors 7. Carefully identify both the external and internal influences on a firm and then analyze their implications 8. Assess the potential of a firm's resources and capabilities to give the firm a sustained competitive advantage