Question 1

Which of the following is NOT a characteristic that describes the most competitive companies in America?

Accepted Answer

A)  Divestiture is essential to growth. 
B)  Hire and retain the best employees and managers possible. 
C)  Continually adapt, innovate, improve-especially when the firm is successful. 
D)  Strive to stay cost-competitive on a global basis. 
E)  Whether it's broke or not, fix it. 
A)  Divestiture is essential to growth. 
B)  Hire and retain the best employees and managers possible. 
C)  Continually adapt, innovate, improve-especially when the firm is successful. 
D)  Strive to stay cost-competitive on a global basis. 
E)  Whether it's broke or not, fix it. A

Question 2

The aim of an external audit is to develop an exhaustive list of every possible factor that could influence the business.

Accepted Answer

A) True 
 B)False  False

Question 3

According to the U.S. Bureau of Labor Statistics, which of the following is TRUE?

Accepted Answer

A)  The percent of wage and salary workers who were members of a union in the USA increased from 2010 to 2011. 
B)  Workers in education, training and library occupations had the highest unionization rate. 
C)  Black workers were less likely to be union members than were white, Asian, or Hispanic workers. 
D)  Private sector workers had a union membership rate more than five times higher that of public-sector workers. 
E)  Among states, North Carolina had the highest union membership rate. 
A)  The percent of wage and salary workers who were members of a union in the USA increased from 2010 to 2011. 
B)  Workers in education, training and library occupations had the highest unionization rate. 
C)  Black workers were less likely to be union members than were white, Asian, or Hispanic workers. 
D)  Private sector workers had a union membership rate more than five times higher that of public-sector workers. 
E)  Among states, North Carolina had the highest union membership rate. B

Question 4

The process of performing an external audit needs to include

Accepted Answer

A)  only top level managers, as it is a planning function. 
B)  as many managers and employees as possible. 
C)  primarily front-line supervisors. 
D)  between 15 to 20 managers for it to be valid. 
E)  stockholders and external government agencies. 
A)  only top level managers, as it is a planning function. 
B)  as many managers and employees as possible. 
C)  primarily front-line supervisors. 
D)  between 15 to 20 managers for it to be valid. 
E)  stockholders and external government agencies.

Question 5

What is the first step in designing an EFE Matrix?

Accepted Answer

A)  Identifying key external factors in the industry 
B)  Summing the weighted score for each competitor 
C)  Calculating the sales of each competitor 
D)  Drawing the horizontal and vertical lines for the matrix 
E)  Determining four competitors 
A)  Identifying key external factors in the industry 
B)  Summing the weighted score for each competitor 
C)  Calculating the sales of each competitor 
D)  Drawing the horizontal and vertical lines for the matrix 
E)  Determining four competitors

Question 6

List three opportunities and three threats that could represent key factors facing your college or university.

Accepted Answer

Student answers will vary.However,they s

Question 7

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.

Question 8

Changes in which of the following can significantly affect firms?

Accepted Answer

A)  Patent laws 
B)  Antitrust legislation 
C)  Tax rates 
D)  Lobbying activities 
E)  All of the above 
A)  Patent laws 
B)  Antitrust legislation 
C)  Tax rates 
D)  Lobbying activities 
E)  All of the above

Question 9

Major competitors' weaknesses can represent internal opportunities.

Accepted Answer

A) True 
 B)False

Question 10

By 2050, the Census Bureau projects that the number of Americans age 100 and older will dramatically decrease.

Accepted Answer

A) True 
 B)False

Question 11

The world population is expected to grow to an estimated ________ billion in 2054.

Accepted Answer

A)  6 
B)  7 
C)  8 
D)  9 
E)  10 
A)  6 
B)  7 
C)  8 
D)  9 
E)  10

Question 12

The I/O approach to competitive advantage advocates that internal factors are more important than external factors in a firm achieving competitive advantage.

Accepted Answer

A) True 
 B)False

Question 13

Explain how the Internet is changing businesses around the world.

Accepted Answer

The Internet is changing the nature of o

Question 14

A Competitive Profile Matrix allows strategists to summarize and evaluate economic, social, cultural, demographic, environmental, political, governmental, legal, technological, and competitive information.

Accepted Answer

A) True 
 B)False

Question 15

According to I/O theorists, which of the following contributes LEAST to firm's performance?

Accepted Answer

A)  Economies of scale 
B)  Barriers to market entry 
C)  Product differentiation 
D)  Internal resources 
E)  Level of competitiveness 
A)  Economies of scale 
B)  Barriers to market entry 
C)  Product differentiation 
D)  Internal resources 
E)  Level of competitiveness

Question 16

Industry analysis is also referred to as external strategic management audit.

Accepted Answer

A) True 
 B)False

Question 17

Identifying and evaluating key social, political, economic, technological and competitive trends and events comprise

Accepted Answer

A)  developing an effective mission statement. 
B)  conducting an internal audit. 
C)  performing an external audit. 
D)  formulating strategy. 
E)  implementing strategy. 
A)  developing an effective mission statement. 
B)  conducting an internal audit. 
C)  performing an external audit. 
D)  formulating strategy. 
E)  implementing strategy.

Question 18

Do you agree or disagree that firms need a Corporate Intelligence (CI)program? Discuss.

Accepted Answer

Agree.Firms need an effective competitiv

Question 19

Political forecasts can be the most important part of an external audit for firms that depend heavily on government contracts.

Accepted Answer

A) True 
 B)False

Question 20

The United States is getting older and less white.

Accepted Answer

A) True 
 B)False

Which of the following is NOT a characteristic that describes the most competitive companies in America?

The aim of an external audit is to develop an exhaustive list of every possible factor that could influence the business.

According to the U.S. Bureau of Labor Statistics, which of the following is TRUE?

The process of performing an external audit needs to include

What is the first step in designing an EFE Matrix?

List three opportunities and three threats that could represent key factors facing your college or university.

The United States' population is

Changes in which of the following can significantly affect firms?

Major competitors' weaknesses can represent internal opportunities.

By 2050, the Census Bureau projects that the number of Americans age 100 and older will dramatically decrease.

The world population is expected to grow to an estimated ________ billion in 2054.

The I/O approach to competitive advantage advocates that internal factors are more important than external factors in a firm achieving competitive advantage.

Explain how the Internet is changing businesses around the world.

A Competitive Profile Matrix allows strategists to summarize and evaluate economic, social, cultural, demographic, environmental, political, governmental, legal, technological, and competitive information.

According to I/O theorists, which of the following contributes LEAST to firm's performance?

Industry analysis is also referred to as external strategic management audit.

Identifying and evaluating key social, political, economic, technological and competitive trends and events comprise

Do you agree or disagree that firms need a Corporate Intelligence (CI)program? Discuss.

Political forecasts can be the most important part of an external audit for firms that depend heavily on government contracts.

The United States is getting older and less white.

The Nature of Strategic Management

The Business Vision and Mission

The Internal Assessment

Strategies in Action

Strategy Analysis and Choice

Implementing Strategies: Management and Operations Issues

Implementing Strategies: Marketing, Finance/Accounting, R&D, and MIS Issues

Strategy Review, Evaluation, and Control

Business Ethics, Social Responsibility, and Environmental Sustainability

Global and International Issues

Filters

Exam 3: The External Assessment

Which of the following is NOT a characteristic that describes the most competitive companies in America?

The aim of an external audit is to develop an exhaustive list of every possible factor that could influence the business.

According to the U.S. Bureau of Labor Statistics, which of the following is TRUE?

The process of performing an external audit needs to include

What is the first step in designing an EFE Matrix?

List three opportunities and three threats that could represent key factors facing your college or university.

The United States' population is

Changes in which of the following can significantly affect firms?

Major competitors' weaknesses can represent internal opportunities.

By 2050, the Census Bureau projects that the number of Americans age 100 and older will dramatically decrease.

The world population is expected to grow to an estimated ________ billion in 2054.

The I/O approach to competitive advantage advocates that internal factors are more important than external factors in a firm achieving competitive advantage.

Explain how the Internet is changing businesses around the world.

A Competitive Profile Matrix allows strategists to summarize and evaluate economic, social, cultural, demographic, environmental, political, governmental, legal, technological, and competitive information.

According to I/O theorists, which of the following contributes LEAST to firm's performance?

Industry analysis is also referred to as external strategic management audit.

Identifying and evaluating key social, political, economic, technological and competitive trends and events comprise

Do you agree or disagree that firms need a Corporate Intelligence (CI)program? Discuss.

Political forecasts can be the most important part of an external audit for firms that depend heavily on government contracts.

The United States is getting older and less white.

The Nature of Strategic Management

The Business Vision and Mission

The Internal Assessment

Strategies in Action

Strategy Analysis and Choice

Implementing Strategies: Management and Operations Issues

Implementing Strategies: Marketing, Finance/Accounting, R&D, and MIS Issues

Strategy Review, Evaluation, and Control

Business Ethics, Social Responsibility, and Environmental Sustainability

Global and International Issues

Filters