DECA Marketing Cluster Practice Exam

Which strategic planning tool involves looking at various perspectives?

1. Porter's Five Forces

2. PEST Analysis

3. Six Thinking Hats

4. Value Chain Analysis

The correct answer is: Six Thinking Hats

The strategic planning tool that involves looking at various perspectives is the Six Thinking Hats. This method, developed by Edward de Bono, encourages individuals and teams to think about a problem from different viewpoints. Each "hat" represents a different style of thinking—such as logical, emotional, optimistic, critical, creative, and process-oriented—which allows for a more rounded understanding of an issue. By employing this tool, teams can explore multiple facets of a situation, leading to more comprehensive and effective decision-making. Porter's Five Forces, while insightful for analyzing the competitive environment, focuses primarily on industry dynamics and does not inherently promote considering multiple perspectives. PEST Analysis examines the external macro-economic factors affecting an organization, such as political, economic, social, and technological influences, but it does not involve diverse individual viewpoints as a structured approach. Value Chain Analysis looks at the internal activities of a company to identify ways to create value but does not include the same breadth of perspectives that Six Thinking Hats encourages.