CIPS Exam L4M8 Topic 4 Question 52 Discussion

Actual exam question for CIPS's L4M8 exam

Question #: 52
Topic #: 4

[All L4M8 Questions]

Explain three strategic decisions that could be made or enhanced by using the STEEPLE or SWOT analysis

AExplanation:
By using STEEPLE and SWOT analysis, the organization can reach out to the following strategic decision in how it will engage with its external environment, and utilize it strength to cover up for its weakness and achieve its strategic goals;
1) STEEPLE can aid an organization to come up with informed decision by understanding when is the right time to procure goods or services?
2) STEEPLE and SWOT analysis can uncover the quantity that could be most economical to ac-quire at the point in time.
3) When an organization want to decide on the currency that could be most favorable for the buy, it will analyze the countries involved and the strength of their currency and make its decisions on which currency that the supplier should be paid that will not make the organization to lose unnecessary money to exchange.
4) Should the product or services be made or bought?
5) Should the product or services be resourced?
6) Should the product or services be placed?
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Suggested Answer: A

by Chantell at Jan 09, 2025, 12:39 AM

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Princess

4 months ago

Haha, I bet some candidates are feeling a little overwhelmed by all the options here. But hey, at least it shows how versatile these tools can be!

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4 months ago

I like how the explanation covers different scenarios where these analyses can be applied. The currency decision one is particularly interesting.

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Nydia

3 months ago

Deciding whether to make or buy a product can be enhanced by using STEEPLE or SWOT analysis.

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Coleen

3 months ago

Analyzing countries and their currency strength can help organizations make favorable payment decisions.

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Truman

3 months ago

STEEPLE and SWOT analysis can help organizations make informed decisions on when to procure goods or services.

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5 months ago

I think using STEEPLE and SWOT analysis can really help organizations make informed decisions.

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