Exam 6: The External Environment

In recent times,businesspeople have become more confident in the ability of economists to provide valid and reliable predictions about the world's economic environment.

The political/legal segment of an environment represents:

The firms in an industry with a high threat from substitutes have less pricing discretion than firms in an industry with few substitutes.

A general environmental analysis can be expected to produce all of the following except:

The means by which one examines whether the nature of competitive forces makes an industry attractive or unattractive is called:

What are some of the most critical economic factors for a firm to track and why are they important?

Analysis of social trends is important because:

The technological segment of environmental analysis includes:

Suppliers tend to exhibit greater power if:

Related and supporting industries are called _________ and they are an additional force that can impact the competitiveness of an industry.

The broad environment consists of sociocultural forces,competitive forces,technological trends,and political/legal forces.

Which of the following is not included as a major force in Michael Porter's five-forces model of industry competition?

Describe the factors that raise the competitive nature of an industry's rivalry.

High entry barriers often result in green-field entries as opposed to acquisitions.

What is a firm's strategic group and what effect does the strategic group have on the firm?

According to the five-forces model,an attractive industry would have all of the following characteristics except:

The economic environment refers to:

According to Michael Porter,all of the following are conditions that create advantages for firms in certain countries and industries except:

According to the five-forces model,an unattractive industry would include all of the following characteristics except:

If there are many sellers but only a few buyers,the sellers tend to have the most bargaining power.