Question 1

Describe the Competitive Profile Matrix (CPM) noting similarities to, and differences from, the External Factor Evaluation (EFE) Matrix.

Accepted Answer

The Competitive Profile Matrix (CPM) ide

Question 2

An effective competitive intelligence program allows all areas of a firm to access consistent and verifiable information in making decisions.

Accepted Answer

A) True 
 B)False

Question 3

In the U.S. food industry, demand for processed packaged foods is ________.

Accepted Answer

A)  increasing 
B)  stabilizing 
C)  accelerating 
D)  declining 
E)  plateauing 
A)  increasing 
B)  stabilizing 
C)  accelerating 
D)  declining 
E)  plateauing

Question 4

For firms with large U.S. sales, a strong dollar provides a boost.

Accepted Answer

A) True 
 B)False

Question 5

Whenever new firms can easily enter a particular industry, the intensity of competitiveness among firms tends to

Accepted Answer

A)  stay the same. 
B)  increase. 
C)  decrease. 
D)  neutralize. 
E)  become irrelevant. 
A)  stay the same. 
B)  increase. 
C)  decrease. 
D)  neutralize. 
E)  become irrelevant.

Question 6

Bargaining power of consumers is usually the most powerful of Porter's five competitive forces.

Accepted Answer

A) True 
 B)False

Question 7

To perform an external audit, a company first must

Accepted Answer

A)  get an approval from the Securities and Exchange Commission. 
B)  perform an internal audit. 
C)  gather competitive intelligence and information about external trends. 
D)  hire a consultant to develop a comprehensive strategic plan. 
E)  create a budget. 
A)  get an approval from the Securities and Exchange Commission. 
B)  perform an internal audit. 
C)  gather competitive intelligence and information about external trends. 
D)  hire a consultant to develop a comprehensive strategic plan. 
E)  create a budget.

Question 8

Major competitors' strengths are areas of concern, but do not represent key threats to a firm.

Accepted Answer

A) True 
 B)False

Question 9

The acronym SCDE stands for social, cultural, demographic, and ________ forces.

Accepted Answer

A)  economic 
B)  ecological 
C)  ethnic 
D)  external 
E)  environment 
A)  economic 
B)  ecological 
C)  ethnic 
D)  external 
E)  environment

Question 10

External audits attempt to identify key variables that offer intuitive responses.

Accepted Answer

A) True 
 B)False

Question 11

The five major categories of variables known as external forces are: 1) economic forces, 2) social, cultural, demographic, and natural environment forces, 3) political, governmental, and legal forces, 4) technological forces, and 5) competitive forces.

Accepted Answer

A) True 
 B)False

Question 12

It is predicted that, by 2050, over 25 percent of the population in the United States will be 65 years or older.

Accepted Answer

A) True 
 B)False

Question 13

Which of the following is NOT an external force that must be examined in formulating strategies?

Accepted Answer

A)  Economic 
B)  Social 
C)  Organizational 
D)  Cultural 
E)  Environmental 
A)  Economic 
B)  Social 
C)  Organizational 
D)  Cultural 
E)  Environmental

Question 14

A ________ integration strategy is used by firms to gain control or ownership of suppliers.

Accepted Answer

A)  backward 
B)  forward 
C)  horizontal 
D)  vertical 
E)  vortexed 
A)  backward 
B)  forward 
C)  horizontal 
D)  vertical 
E)  vortexed

Question 15

Regardless of the number of key opportunities and threats included in an External Factor Evaluation Matrix, the highest possible total weighted score for an organization is 4.0, and the lowest possible total weighted score is 0.0.

Accepted Answer

A) True 
 B)False

Question 16

In the U.S. food industry, demand for processed packaged foods is increasing.

Accepted Answer

A) True 
 B)False

Question 17

Organizations never develop their own projections.

Accepted Answer

A) True 
 B)False

Question 18

In performing strategic planning and case analysis, relevant SCDE factors for a particular firm need not be quantified to be useful.

Accepted Answer

A) True 
 B)False

Question 19

While forecasts might not be perfect, they are never wildly inaccurate.

Accepted Answer

A) True 
 B)False

Question 20

The United States' population is

Accepted Answer

A)  getting younger and less white. 
B)  getting younger and more white. 
C)  getting older and less white. 
D)  getting older and more white. 
E)  remaining stable as to age and racial make up. 
A)  getting younger and less white. 
B)  getting younger and more white. 
C)  getting older and less white. 
D)  getting older and more white. 
E)  remaining stable as to age and racial make up.

Describe the Competitive Profile Matrix (CPM) noting similarities to, and differences from, the External Factor Evaluation (EFE) Matrix.

An effective competitive intelligence program allows all areas of a firm to access consistent and verifiable information in making decisions.

In the U.S. food industry, demand for processed packaged foods is ________.

For firms with large U.S. sales, a strong dollar provides a boost.

Whenever new firms can easily enter a particular industry, the intensity of competitiveness among firms tends to

Bargaining power of consumers is usually the most powerful of Porter's five competitive forces.

To perform an external audit, a company first must

Major competitors' strengths are areas of concern, but do not represent key threats to a firm.

The acronym SCDE stands for social, cultural, demographic, and ________ forces.

External audits attempt to identify key variables that offer intuitive responses.

The five major categories of variables known as external forces are: 1) economic forces, 2) social, cultural, demographic, and natural environment forces, 3) political, governmental, and legal forces, 4) technological forces, and 5) competitive forces.

It is predicted that, by 2050, over 25 percent of the population in the United States will be 65 years or older.

Which of the following is NOT an external force that must be examined in formulating strategies?

A ________ integration strategy is used by firms to gain control or ownership of suppliers.

Regardless of the number of key opportunities and threats included in an External Factor Evaluation Matrix, the highest possible total weighted score for an organization is 4.0, and the lowest possible total weighted score is 0.0.

In the U.S. food industry, demand for processed packaged foods is increasing.

Organizations never develop their own projections.

In performing strategic planning and case analysis, relevant SCDE factors for a particular firm need not be quantified to be useful.

While forecasts might not be perfect, they are never wildly inaccurate.

The United States' population is

The Nature of Strategic Management

The Business Vision and Mission

The Internal Assessment

Strategies in Action

Strategy Analysis and Choice

Implementing Strategies: Management and Marketing Issues

Implementing Strategies: Finance and Accounting Issues

Strategy Evaluation and Governance

Business Ethics, Environmental Sustainability, and Social Responsibility

Global and International Issues

Filters

Exam 3: The External Assessment

Describe the Competitive Profile Matrix (CPM) noting similarities to, and differences from, the External Factor Evaluation (EFE) Matrix.

An effective competitive intelligence program allows all areas of a firm to access consistent and verifiable information in making decisions.

In the U.S. food industry, demand for processed packaged foods is ________.

For firms with large U.S. sales, a strong dollar provides a boost.

Whenever new firms can easily enter a particular industry, the intensity of competitiveness among firms tends to

Bargaining power of consumers is usually the most powerful of Porter's five competitive forces.

To perform an external audit, a company first must

Major competitors' strengths are areas of concern, but do not represent key threats to a firm.

The acronym SCDE stands for social, cultural, demographic, and ________ forces.

External audits attempt to identify key variables that offer intuitive responses.

The five major categories of variables known as external forces are: 1) economic forces, 2) social, cultural, demographic, and natural environment forces, 3) political, governmental, and legal forces, 4) technological forces, and 5) competitive forces.

It is predicted that, by 2050, over 25 percent of the population in the United States will be 65 years or older.

Which of the following is NOT an external force that must be examined in formulating strategies?

A ________ integration strategy is used by firms to gain control or ownership of suppliers.

Regardless of the number of key opportunities and threats included in an External Factor Evaluation Matrix, the highest possible total weighted score for an organization is 4.0, and the lowest possible total weighted score is 0.0.

In the U.S. food industry, demand for processed packaged foods is increasing.

Organizations never develop their own projections.

In performing strategic planning and case analysis, relevant SCDE factors for a particular firm need not be quantified to be useful.

While forecasts might not be perfect, they are never wildly inaccurate.

The United States' population is

The Nature of Strategic Management

The Business Vision and Mission

The Internal Assessment

Strategies in Action

Strategy Analysis and Choice

Implementing Strategies: Management and Marketing Issues

Implementing Strategies: Finance and Accounting Issues

Strategy Evaluation and Governance

Business Ethics, Environmental Sustainability, and Social Responsibility

Global and International Issues

Filters