Question 1

By 2020

Accepted Answer

A)  the U.S. Hispanic population will be over 75 million. 
B)  the number of Americans aged 65 and older will be 55 million. 
C)  U.S. annual median per capita income will be $60K. 
D)  the U.S. population under 30 years old will account for 20 percent of the population. 
A)  the U.S. Hispanic population will be over 75 million. 
B)  the number of Americans aged 65 and older will be 55 million. 
C)  U.S. annual median per capita income will be $60K. 
D)  the U.S. population under 30 years old will account for 20 percent of the population.

Question 2

Which of the following IS NOT an example of an exit barrier?

Accepted Answer

A)  switching costs 
B)  fixed costs of exit, such as labor agreements 
C)  emotional barriers 
D)  specialized assets 
A)  switching costs 
B)  fixed costs of exit, such as labor agreements 
C)  emotional barriers 
D)  specialized assets

Question 3

In which of the following functional areas is it NOT possible for a firm to realize economies of scale?

Accepted Answer

A)  manufacturing 
B)  marketing 
C)  purchasing 
D)  economies of scale are possible in all of these functional areas 
A)  manufacturing 
B)  marketing 
C)  purchasing 
D)  economies of scale are possible in all of these functional areas

Question 4

Between 2000-2020 the percentage of Americans over age 65 will decrease by approximately seven percent.

Accepted Answer

A) True 
 B)False

Question 5

Imagine that you are in your final semester of college and you decide to transfer to a different school. This decision probably involves few, if any switching costs.

Accepted Answer

A) True 
 B)False

Question 6

Goods or services from outside the industry that perform functions that are similar to an existing product in a different industry are known as

Accepted Answer

A)  complimentary products 
B)  substitute products 
C)  switching products 
D)  differentiated products 
A)  complimentary products 
B)  substitute products 
C)  switching products 
D)  differentiated products

Question 7

Changes in lifestyles, population size, society's attitudes, educational status and marital status are all examples of demographic trends in the general environment.

Accepted Answer

A) True 
 B)False

Question 8

By keeping up with technological trends a company may be able to identify and incorporate cutting edge technology developed in other industries into its own products.

Accepted Answer

A) True 
 B)False

Question 9

Which of the following conditions in the general environment are outside the firm's direct control?

Accepted Answer

A)  demographic trends 
B)  sociocultural trends 
C)  economic trends 
D)  all of these are outside the firm's direct control 
A)  demographic trends 
B)  sociocultural trends 
C)  economic trends 
D)  all of these are outside the firm's direct control

Question 10

If a firm derives a large percentage of its revenue from a particular market, the firm exhibits

Accepted Answer

A)  market dependence 
B)  market independence 
C)  market dominance 
D)  market completeness 
A)  market dependence 
B)  market independence 
C)  market dominance 
D)  market completeness

Question 11

Which of the following DOES NOT reflect an example of the impact a new entrant might have on an industry?

Accepted Answer

A)  A new entrant might take away market share from existing competitors. 
B)  A new entrant might increase production capacity in the industry so that overcapacity results. 
C)  A new entrant might force existing firms to learn new ways of doing things. 
D)  A new entrant might decrease competitive rivalry. 
A)  A new entrant might take away market share from existing competitors. 
B)  A new entrant might increase production capacity in the industry so that overcapacity results. 
C)  A new entrant might force existing firms to learn new ways of doing things. 
D)  A new entrant might decrease competitive rivalry.

Question 12

The process of transforming state-owned firms to privately owned companies is known as deregulation.

Accepted Answer

A) True 
 B)False

Question 13

Trends in the broader society that influence an industry and the firms in it are known as

Accepted Answer

A)  the general environment 
B)  the competitive environment 
C)  the industry environment 
D)  the external environment 
A)  the general environment 
B)  the competitive environment 
C)  the industry environment 
D)  the external environment

Question 14

IN the United States there has been a geographic shift in the population as people have migrated from the south and west to the northern and eastern parts of the country.

Accepted Answer

A) True 
 B)False

Question 15

Firms can exercise a moderate amount of direct control over the demographic and economic trends in the general environment.

Accepted Answer

A) True 
 B)False

Question 16

Licensing and permit requirements are two examples of which type of entry barrier?

Accepted Answer

A)  government policy 
B)  differentiation 
C)  switching costs 
D)  economies of scale 
A)  government policy 
B)  differentiation 
C)  switching costs 
D)  economies of scale

Question 17

Electronic Arts (EA) is a powerful supplier in the electronic game industry. As a result, EA's actions can reduce the profit potential of companies that make electronic game boxes, such as Sony, Microsoft and Nintendo.

Accepted Answer

A) True 
 B)False

Question 18

In which of the following countries or regions is the emphasis on saving the environment the STRONGEST?

Accepted Answer

A)  Latin America 
B)  Russia 
C)  Europe 
D)  United States 
A)  Latin America 
B)  Russia 
C)  Europe 
D)  United States

Question 19

Which of the following IS NOT a demographic trend?

Accepted Answer

A)  increasing population rates and size of international markets, such as China and India 
B)  increasing average age of American consumers 
C)  increasing number of Asian consumers in the US 
D)  increasing interest rates and rates of inflation 
A)  increasing population rates and size of international markets, such as China and India 
B)  increasing average age of American consumers 
C)  increasing number of Asian consumers in the US 
D)  increasing interest rates and rates of inflation

Question 20

Companies with high market dependence are likely to respond strongly when competitors attack their market position.

Accepted Answer

A) True 
 B)False

By 2020

Which of the following IS NOT an example of an exit barrier?

In which of the following functional areas is it NOT possible for a firm to realize economies of scale?

Between 2000-2020 the percentage of Americans over age 65 will decrease by approximately seven percent.

Imagine that you are in your final semester of college and you decide to transfer to a different school. This decision probably involves few, if any switching costs.

Goods or services from outside the industry that perform functions that are similar to an existing product in a different industry are known as

Changes in lifestyles, population size, society's attitudes, educational status and marital status are all examples of demographic trends in the general environment.

By keeping up with technological trends a company may be able to identify and incorporate cutting edge technology developed in other industries into its own products.

Which of the following conditions in the general environment are outside the firm's direct control?

If a firm derives a large percentage of its revenue from a particular market, the firm exhibits

Which of the following DOES NOT reflect an example of the impact a new entrant might have on an industry?

The process of transforming state-owned firms to privately owned companies is known as deregulation.

Trends in the broader society that influence an industry and the firms in it are known as

IN the United States there has been a geographic shift in the population as people have migrated from the south and west to the northern and eastern parts of the country.

Firms can exercise a moderate amount of direct control over the demographic and economic trends in the general environment.

Licensing and permit requirements are two examples of which type of entry barrier?

Electronic Arts (EA) is a powerful supplier in the electronic game industry. As a result, EA's actions can reduce the profit potential of companies that make electronic game boxes, such as Sony, Microsoft and Nintendo.

In which of the following countries or regions is the emphasis on saving the environment the STRONGEST?

Which of the following IS NOT a demographic trend?

Companies with high market dependence are likely to respond strongly when competitors attack their market position.

The Foundations of Strategic Management

Leading Strategically

Analyzing the Firm

Business-Level Strategy

Multiproduct Strategies

Acquiring and Integrating Businesses

Competing Across Borders

Creating and Maintaining Alliances

Innovating Through Strategic Entrepreneurship

Filters

Exam 3: Analyzing the External Environment

By 2020

Which of the following IS NOT an example of an exit barrier?

In which of the following functional areas is it NOT possible for a firm to realize economies of scale?

Between 2000-2020 the percentage of Americans over age 65 will decrease by approximately seven percent.

Imagine that you are in your final semester of college and you decide to transfer to a different school. This decision probably involves few, if any switching costs.

Goods or services from outside the industry that perform functions that are similar to an existing product in a different industry are known as

Changes in lifestyles, population size, society's attitudes, educational status and marital status are all examples of demographic trends in the general environment.

By keeping up with technological trends a company may be able to identify and incorporate cutting edge technology developed in other industries into its own products.

Which of the following conditions in the general environment are outside the firm's direct control?

If a firm derives a large percentage of its revenue from a particular market, the firm exhibits

Which of the following DOES NOT reflect an example of the impact a new entrant might have on an industry?

The process of transforming state-owned firms to privately owned companies is known as deregulation.

Trends in the broader society that influence an industry and the firms in it are known as

IN the United States there has been a geographic shift in the population as people have migrated from the south and west to the northern and eastern parts of the country.

Firms can exercise a moderate amount of direct control over the demographic and economic trends in the general environment.

Licensing and permit requirements are two examples of which type of entry barrier?

Electronic Arts (EA) is a powerful supplier in the electronic game industry. As a result, EA's actions can reduce the profit potential of companies that make electronic game boxes, such as Sony, Microsoft and Nintendo.

In which of the following countries or regions is the emphasis on saving the environment the STRONGEST?

Which of the following IS NOT a demographic trend?

Companies with high market dependence are likely to respond strongly when competitors attack their market position.

The Foundations of Strategic Management

Leading Strategically

Analyzing the Firm

Business-Level Strategy

Multiproduct Strategies

Acquiring and Integrating Businesses

Competing Across Borders

Creating and Maintaining Alliances

Innovating Through Strategic Entrepreneurship

Filters