Exam 3: The External Assessment

Not all sectors of the economy are equally affected by technological developments; the ________ industry is much more volatile than the ________ industry.

The United States has been more active than other nations in protectionist measures and has engaged in many "Buy American" policies.

Americans were on the move in a population shift to _______, but the recession and housing bust nationwide has slowed migration throughout the United States.

The trend toward an older America is bad news for restaurants, hotels, airlines and home builders.

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

The process of performing an external audit needs to include

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

Freund emphasizes that key external factors should be all of these EXCEPT

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

In the face of a deepening global recession, countries worldwide are resorting to protectionism to safeguard their own industries.

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

It is predicted that the United States will have how many racial or ethnic majorities by the year 2075?

________ perhaps has instituted the most protectionist measures in recent months by raising tariffs on most imports and subsidizing its own exports.

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

Walgreens and CVS pharmacies are located generally across the street from each other and battle each other every day on price and customer service.

Major competitors' strengths may represent key threats.

________ is NOT part of an external audit.

Economic factors do not have much impact on the attractiveness of strategies.

As many managers and employees as possible should be involved in the process of performing an external audit.

Significant barriers to entry are not always sufficient to keep some new firms from entering industries with higher-quality products, lower prices, and substantial marketing resources.