Question 1

The size of U.S. labor unions has increased sharply in the last decade.

Accepted Answer

A) True 
 B)False

Question 2

The historical trend of people moving from ________ has dramatically slowed.

Accepted Answer

A)  the Northeast to the Sunbelt 
B)  the West to the Midwest 
C)  the Northeast to the Midwest 
D)  the Sunbelt to the West 
E)  the West to the Northeast 
A)  the Northeast to the Sunbelt 
B)  the West to the Midwest 
C)  the Northeast to the Midwest 
D)  the Sunbelt to the West 
E)  the West to the Northeast

Question 3

One difference between CPM and EFE is that

Accepted Answer

A)  CPM includes both internal and external issues. 
B)  the weights and total weighted scores have different meanings. 
C)  CPM ratings range from 1 to 10. 
D)  CPM is performed only for the company, whereas EFE is performed for both the company and its competitors. 
E)  CPM is only used in small firms. 
A)  CPM includes both internal and external issues. 
B)  the weights and total weighted scores have different meanings. 
C)  CPM ratings range from 1 to 10. 
D)  CPM is performed only for the company, whereas EFE is performed for both the company and its competitors. 
E)  CPM is only used in small firms.

Question 4

What is the range for a firm's total weighted score in an External Factor Evaluation Matrix?

Accepted Answer

A)  0 to 5 
B)  0 to 4 
C)  1 to 5 
D)  1 to 4 
E)  0 to 10 
A)  0 to 5 
B)  0 to 4 
C)  1 to 5 
D)  1 to 4 
E)  0 to 10

Question 5

Market commonality is the extent to which the type and amount of a firm's internal resources are comparable to a rival.

Accepted Answer

A) True 
 B)False

Question 6

What effect do trends in the dollar's value have on companies in different industries and in different locations?

Accepted Answer

A)  Significant and equal 
B)  Marginal and equal 
C)  Significant and unequal 
D)  Insignificant and unequal 
E)  No significant impact 
A)  Significant and equal 
B)  Marginal and equal 
C)  Significant and unequal 
D)  Insignificant and unequal 
E)  No significant impact

Question 7

A systematic and ethical process for gathering and analyzing information about the competition's activities and general trends to further a business' own goals is called

Accepted Answer

A)  unethical business practices. 
B)  artificial intelligence. 
C)  competitive intelligence. 
D)  industrial espionage. 
E)  competitive advantage. 
A)  unethical business practices. 
B)  artificial intelligence. 
C)  competitive intelligence. 
D)  industrial espionage. 
E)  competitive advantage.

Question 8

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)  all of the above 
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)  all of the above

Question 9

Discuss the process of performing an external audit.

Accepted Answer

To perform an external audit,a company f

Question 10

Discuss the following statement: "Planning would be impossible without assumptions."

Accepted Answer

By identifying future occurrences that c

Question 11

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 12

What is NOT one of Michael Porter's five competitive forces?

Accepted Answer

A)  New entrants 
B)  Rivalry among existing firms 
C)  Bargaining power of unions 
D)  Bargaining power of suppliers 
E)  Bargaining power of buyers 
A)  New entrants 
B)  Rivalry among existing firms 
C)  Bargaining power of unions 
D)  Bargaining power of suppliers 
E)  Bargaining power of buyers

Question 13

It is predicted that, by 2025, over 18% of the population in the United States will be 65 years or older.

Accepted Answer

A) True 
 B)False

Question 14

Laser eye surgery would be considered a substitute product for eyeglasses and contact lenses.

Accepted Answer

A) True 
 B)False

Question 15

A characteristic that describes the most competitive companies is adopting the adage, "whether it's broke or not, fix it;" in other words, continually strive to improve everything about the firm.

Accepted Answer

A) True 
 B)False

Question 16

In response to the so-called Obamacare legislation, many U.S. businesses are transitioning to having a larger percentage of their workforce being comprised of full-time employees rather than part-time workers.

Accepted Answer

A) True 
 B)False

Question 17

What are educated assumptions about future trends and events called?

Accepted Answer

A)  Wild guesses 
B)  Forecasts 
C)  Facts 
D)  Statistics 
E)  Premonitions 
A)  Wild guesses 
B)  Forecasts 
C)  Facts 
D)  Statistics 
E)  Premonitions

Question 18

All of the following are political, governmental, and legal variables that can represent key opportunities or threats to organizations EXCEPT

Accepted Answer

A)  special tariffs. 
B)  environmental protection laws. 
C)  world oil, currency, and labor markets. 
D)  legislation on equal employment. 
E)  population changes by race, age, sex, and level of affluence. 
A)  special tariffs. 
B)  environmental protection laws. 
C)  world oil, currency, and labor markets. 
D)  legislation on equal employment. 
E)  population changes by race, age, sex, and level of affluence.

Question 19

The weights and total weighted scores in both a Competitive Profile Matrix and an EFE Matrix have the same meaning.

Accepted Answer

A) True 
 B)False

Question 20

Qualitative forecasts are most appropriate when historical data are available and when the relationships among key variables are expected to remain the same in the future.

Accepted Answer

A) True 
 B)False

The size of U.S. labor unions has increased sharply in the last decade.

The historical trend of people moving from ________ has dramatically slowed.

One difference between CPM and EFE is that

What is the range for a firm's total weighted score in an External Factor Evaluation Matrix?

Market commonality is the extent to which the type and amount of a firm's internal resources are comparable to a rival.

What effect do trends in the dollar's value have on companies in different industries and in different locations?

A systematic and ethical process for gathering and analyzing information about the competition's activities and general trends to further a business' own goals is called

To perform an external audit, a company first must

Discuss the process of performing an external audit.

Discuss the following statement: "Planning would be impossible without assumptions."

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

What is NOT one of Michael Porter's five competitive forces?

It is predicted that, by 2025, over 18% of the population in the United States will be 65 years or older.

Laser eye surgery would be considered a substitute product for eyeglasses and contact lenses.

A characteristic that describes the most competitive companies is adopting the adage, "whether it's broke or not, fix it;" in other words, continually strive to improve everything about the firm.

In response to the so-called Obamacare legislation, many U.S. businesses are transitioning to having a larger percentage of their workforce being comprised of full-time employees rather than part-time workers.

What are educated assumptions about future trends and events called?

All of the following are political, governmental, and legal variables that can represent key opportunities or threats to organizations EXCEPT

The weights and total weighted scores in both a Competitive Profile Matrix and an EFE Matrix have the same meaning.

Qualitative forecasts are most appropriate when historical data are available and when the relationships among key variables are expected to remain the same in the future.

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

The size of U.S. labor unions has increased sharply in the last decade.

The historical trend of people moving from ________ has dramatically slowed.

One difference between CPM and EFE is that

What is the range for a firm's total weighted score in an External Factor Evaluation Matrix?

Market commonality is the extent to which the type and amount of a firm's internal resources are comparable to a rival.

What effect do trends in the dollar's value have on companies in different industries and in different locations?

A systematic and ethical process for gathering and analyzing information about the competition's activities and general trends to further a business' own goals is called

To perform an external audit, a company first must

Discuss the process of performing an external audit.

Discuss the following statement: "Planning would be impossible without assumptions."

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

What is NOT one of Michael Porter's five competitive forces?

It is predicted that, by 2025, over 18% of the population in the United States will be 65 years or older.

Laser eye surgery would be considered a substitute product for eyeglasses and contact lenses.

A characteristic that describes the most competitive companies is adopting the adage, "whether it's broke or not, fix it;" in other words, continually strive to improve everything about the firm.

In response to the so-called Obamacare legislation, many U.S. businesses are transitioning to having a larger percentage of their workforce being comprised of full-time employees rather than part-time workers.

What are educated assumptions about future trends and events called?

All of the following are political, governmental, and legal variables that can represent key opportunities or threats to organizations EXCEPT

The weights and total weighted scores in both a Competitive Profile Matrix and an EFE Matrix have the same meaning.

Qualitative forecasts are most appropriate when historical data are available and when the relationships among key variables are expected to remain the same in the future.

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