Which of these are reasons to limit a company's scope? (Select four answers.)
To give the company many different brand identities
To focus marketing efforts on a specific target market
To reach as many different types of customers as possible
To provide a higher quality product or service
To give the company a clear direction and goals
To provide as many products and services as possible,
even if they are not related
To have as many competitors as possible
To create a clear brand identity

B. To focus marketing efforts on a specific target market

D. To provide a higher quality product or service

E. To give the company a clear direction and goals.

H. To create a clear brand identity.

Explanation:

A well-written and defined business strategy sets the overall direction for a company or business firm because it essentially focuses on defining the scope of the business and how a business would achieve its goals, objectives, and mission; as well as the funds and material resources required to implement or execute the business plan.

A company's scope can be defined as the variety or range of finished goods (products) and services that are being offered by the company.

Basically, any company having a range of goods and services that are unrelated or slightly related is said to considered to have a large scope while a company having a range of goods and services that are closely related is said to have a small but focused scope.

Hence, some of the reasons to limit a company's scope are;

I. To focus marketing efforts on a specific target market.

II. To provide a higher quality product or service.

III. To give the company a clear direction and goals.

IV. To create a clear brand identity.

Additionally, SWOT analysis is a strategic technique which is used by various companies or business firms to plan through the identification of its strength, weakness, opportunities and threats in relation to its business. The internal environmental scanning offers an organization strength and weakness while the external environmental scanning provides information about opportunities and threats.