Question 1

Wisconsin recently passed a law eliminating most collective-bargaining rights for the state's public-employee unions.

Accepted Answer

A) True 
 B)False  True

Question 2

The increase in high tech manufacturing base in the United States is reflected in the sharp increase in labor union membership in the last decade.

Accepted Answer

A) True 
 B)False  False

Question 3

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 D

Question 4

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

Accepted Answer

A) True 
 B)False

Question 5

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 6

If suppliers are unreliable or too costly, which of these strategies may be appropriate?

Accepted Answer

A)  Horizontal integration 
B)  Backward integration 
C)  Market penetration 
D)  Forward integration 
E)  Concentric diversification 
A)  Horizontal integration 
B)  Backward integration 
C)  Market penetration 
D)  Forward integration 
E)  Concentric diversification

Question 7

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 8

The Industrial Organization (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 9

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

Accepted Answer

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

Question 10

When using External Factor Evaluation (EFE) Matrix, what is done after multiplying each factor's weight by its rating to determine a weighted score?

Accepted Answer

A)  Identifying key external factors 
B)  Summing the weighted score for each competitor 
C)  Summing the weighted scores for each variable to determine the total weighted score for the organization 
D)  Drawing the horizontal and vertical lines for the matrix 
E)  Determining the preferred strategic factors 
A)  Identifying key external factors 
B)  Summing the weighted score for each competitor 
C)  Summing the weighted scores for each variable to determine the total weighted score for the organization 
D)  Drawing the horizontal and vertical lines for the matrix 
E)  Determining the preferred strategic factors

Question 11

The investor relations pages of a company website ________ information about a firm.

Accepted Answer

A)  is a good place to start to find 
B)  is not a reliable source of 
C)  is only acceptable as a last resort for 
D)  should not be used as the first place to look for 
E)  is a waste of time when searching for 
A)  is a good place to start to find 
B)  is not a reliable source of 
C)  is only acceptable as a last resort for 
D)  should not be used as the first place to look for 
E)  is a waste of time when searching for

Question 12

External audits attempt to identify key variables that offer ________ responses.

Accepted Answer

A)  actionable 
B)  authoritative 
C)  profitable 
D)  strategic 
E)  terminal 
A)  actionable 
B)  authoritative 
C)  profitable 
D)  strategic 
E)  terminal

Question 13

Without assumptions, planning would be

Accepted Answer

A)  impossible. 
B)  easier. 
C)  difficult. 
D)  inexpensive. 
E)  intuitive. 
A)  impossible. 
B)  easier. 
C)  difficult. 
D)  inexpensive. 
E)  intuitive.

Question 14

Intelligence gathering is an unethical business practice.

Accepted Answer

A) True 
 B)False

Question 15

External audits attempt to identify key variables that offer intuitive responses.

Accepted Answer

A) True 
 B)False

Question 16

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

Accepted Answer

A) True 
 B)False

Question 17

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 18

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 19

Wisconsin recently passed a law strengthening collective-bargaining rights for the state's public-employee unions.

Accepted Answer

A) True 
 B)False

Question 20

Intensity of competition ________ in lower-return industries.

Accepted Answer

A)  is lowest 
B)  is nonexistent 
C)  is highest 
D)  is not important 
E)  fluctuates 
A)  is lowest 
B)  is nonexistent 
C)  is highest 
D)  is not important 
E)  fluctuates

Wisconsin recently passed a law eliminating most collective-bargaining rights for the state's public-employee unions.

The increase in high tech manufacturing base in the United States is reflected in the sharp increase in labor union membership in the last decade.

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

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

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

If suppliers are unreliable or too costly, which of these strategies may be appropriate?

Changes in which of the following can significantly affect firms?

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

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

When using External Factor Evaluation (EFE) Matrix, what is done after multiplying each factor's weight by its rating to determine a weighted score?

The investor relations pages of a company website ________ information about a firm.

External audits attempt to identify key variables that offer ________ responses.

Without assumptions, planning would be

Intelligence gathering is an unethical business practice.

External audits attempt to identify key variables that offer intuitive responses.

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

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

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.

Wisconsin recently passed a law strengthening collective-bargaining rights for the state's public-employee unions.

Intensity of competition ________ in lower-return industries.

The Nature of Strategic Management

The Business Vision and Mission

The Internal Assessment

Strategies in Action

Strategy Analysis and Choice

Implementing Strategies: Management, Operations, and Human Resource Issues

Implementing Strategies: Marketing, Financeaccounting, Rd, 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

Wisconsin recently passed a law eliminating most collective-bargaining rights for the state's public-employee unions.

The increase in high tech manufacturing base in the United States is reflected in the sharp increase in labor union membership in the last decade.

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

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

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

If suppliers are unreliable or too costly, which of these strategies may be appropriate?

Changes in which of the following can significantly affect firms?

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

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

When using External Factor Evaluation (EFE) Matrix, what is done after multiplying each factor's weight by its rating to determine a weighted score?

The investor relations pages of a company website ________ information about a firm.

External audits attempt to identify key variables that offer ________ responses.

Without assumptions, planning would be

Intelligence gathering is an unethical business practice.

External audits attempt to identify key variables that offer intuitive responses.

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

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

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.

Wisconsin recently passed a law strengthening collective-bargaining rights for the state's public-employee unions.

Intensity of competition ________ in lower-return industries.

The Nature of Strategic Management

The Business Vision and Mission

The Internal Assessment

Strategies in Action

Strategy Analysis and Choice

Implementing Strategies: Management, Operations, and Human Resource Issues

Implementing Strategies: Marketing, Financeaccounting, Rd, and Mis Issues

Strategy Review, Evaluation, and Control

Business Ethics, Social Responsibility, and Environmental Sustainability

Global and International Issues

Filters