Question 1

There is a trend of people moving to the West Coast from the Rocky Mountain states for more affordable living.

Accepted Answer

A) True 
 B)False

Question 2

Competitive intelligence is not considered corporate espionage because 95 percent of the information a company needs to make strategic decisions is available and accessible to the public.

Accepted Answer

A) True 
 B)False

Question 3

The Internet has made it _______ for firms to gather, assimilate, and evaluate information.

Accepted Answer

A)  easier 
B)  harder 
C)  more expensive 
D)  less clear-cut 
E)  more time-consuming 
A)  easier 
B)  harder 
C)  more expensive 
D)  less clear-cut 
E)  more time-consuming

Question 4

What happens when interest rates rise?

Accepted Answer

A)  Discretionary income increases 
B)  The demand for discretionary goods increases 
C)  Discretionary income is unchanged 
D)  The demand for discretionary goods decreases 
E)  Discretionary income increases and the demand for discretionary goods decreases 
A)  Discretionary income increases 
B)  The demand for discretionary goods increases 
C)  Discretionary income is unchanged 
D)  The demand for discretionary goods decreases 
E)  Discretionary income increases and the demand for discretionary goods decreases

Question 5

Linear regression is based on the assumption that the future will be different from the past.

Accepted Answer

A) True 
 B)False

Question 6

A total weighted score of 1.0 for an EFE Matrix indicates that the firm is responding in an outstanding way to existing opportunities and threats in its industry.

Accepted Answer

A) True 
 B)False

Question 7

Identify five key economic variables that could represent major opportunities or threats to a bank in your town or city.

Accepted Answer

The answer of Identify five key economic variables that could...

Question 8

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 9

Wild guesses should never be part of the planning process.

Accepted Answer

A) True 
 B)False

Question 10

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 11

There are now more American households consisting of married couples with children than of people living alone or with unrelated people.

Accepted Answer

A) True 
 B)False

Question 12

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 13

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 14

According to Michael Porter, five competitive forces create vital opportunities and threats to organizations: 1) new entrants, 2) substitute products or services, 3) bargaining power of suppliers, 4) bargaining power of buyers, and 5) rivalry among existing firms.

Accepted Answer

A) True 
 B)False

Question 15

Consumer spending rebounded nicely in 2011 from 2010.

Accepted Answer

A) True 
 B)False

Question 16

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 17

What is a CPM and how is it different from a EFE Matrix?

Accepted Answer

The Competitive Profile Matrix (CPM) ide

Question 18

A low value of the dollar means lower exports and higher imports.

Accepted Answer

A) True 
 B)False

Question 19

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

Accepted Answer

A)  less important than 
B)  equally important as 
C)  more important than 
D)  more common than 
E)  less common than 
A)  less important than 
B)  equally important as 
C)  more important than 
D)  more common than 
E)  less common than

Question 20

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

Accepted Answer

A) True 
 B)False

There is a trend of people moving to the West Coast from the Rocky Mountain states for more affordable living.

Competitive intelligence is not considered corporate espionage because 95 percent of the information a company needs to make strategic decisions is available and accessible to the public.

The Internet has made it _______ for firms to gather, assimilate, and evaluate information.

What happens when interest rates rise?

Linear regression is based on the assumption that the future will be different from the past.

A total weighted score of 1.0 for an EFE Matrix indicates that the firm is responding in an outstanding way to existing opportunities and threats in its industry.

Identify five key economic variables that could represent major opportunities or threats to a bank in your town or city.

What is the first step in designing an EFE Matrix?

Wild guesses should never be part of the planning process.

What are educated assumptions about future trends and events called?

There are now more American households consisting of married couples with children than of people living alone or with unrelated people.

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

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

According to Michael Porter, five competitive forces create vital opportunities and threats to organizations: 1) new entrants, 2) substitute products or services, 3) bargaining power of suppliers, 4) bargaining power of buyers, and 5) rivalry among existing firms.

Consumer spending rebounded nicely in 2011 from 2010.

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

What is a CPM and how is it different from a EFE Matrix?

A low value of the dollar means lower exports and higher imports.

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

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

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, Financeaccounting, RD, and MIS Issues

Strategy Review, Evaluation, and Control

Business Ethicssocial Responsibilityenvironmental Sustainability

Globalinternational Issues

Filters

Exam 3: The External Assessment

There is a trend of people moving to the West Coast from the Rocky Mountain states for more affordable living.

Competitive intelligence is not considered corporate espionage because 95 percent of the information a company needs to make strategic decisions is available and accessible to the public.

The Internet has made it _______ for firms to gather, assimilate, and evaluate information.

What happens when interest rates rise?

Linear regression is based on the assumption that the future will be different from the past.

A total weighted score of 1.0 for an EFE Matrix indicates that the firm is responding in an outstanding way to existing opportunities and threats in its industry.

Identify five key economic variables that could represent major opportunities or threats to a bank in your town or city.

What is the first step in designing an EFE Matrix?

Wild guesses should never be part of the planning process.

What are educated assumptions about future trends and events called?

There are now more American households consisting of married couples with children than of people living alone or with unrelated people.

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

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

According to Michael Porter, five competitive forces create vital opportunities and threats to organizations: 1) new entrants, 2) substitute products or services, 3) bargaining power of suppliers, 4) bargaining power of buyers, and 5) rivalry among existing firms.

Consumer spending rebounded nicely in 2011 from 2010.

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

What is a CPM and how is it different from a EFE Matrix?

A low value of the dollar means lower exports and higher imports.

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

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

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, Financeaccounting, RD, and MIS Issues

Strategy Review, Evaluation, and Control

Business Ethicssocial Responsibilityenvironmental Sustainability

Globalinternational Issues

Filters