Question 1

According to Porter, what is usually the most powerful of the five competitive forces?

Accepted Answer

A)  Potential development of substitute products 
B)  Bargaining power of suppliers 
C)  Bargaining power of consumers 
D)  Rivalry among competing firms 
E)  Potential entry of new competitors 
A)  Potential development of substitute products 
B)  Bargaining power of suppliers 
C)  Bargaining power of consumers 
D)  Rivalry among competing firms 
E)  Potential entry of new competitors

Question 2

In recent times, which of the following has largely refrained from protectionist measures?

Accepted Answer

A)  The European Union 
B)  The United States 
C)  India 
D)  Russia 
E)  India and Russia 
A)  The European Union 
B)  The United States 
C)  India 
D)  Russia 
E)  India and Russia

Question 3

India is increasing tariffs on foreign steel.

Accepted Answer

A) True 
 B)False

Question 4

Discuss the process of performing an external audit.

Accepted Answer

To perform an external audit, a company

Question 5

Major competitors' strengths are areas of concern but do not represent key threats to a firm.

Accepted Answer

A) True 
 B)False

Question 6

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

Accepted Answer

A) True 
 B)False

Question 7

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

Accepted Answer

A) True 
 B)False

Question 8

Major competitors' strengths may represent key threats.

Accepted Answer

A) True 
 B)False

Question 9

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

Accepted Answer

A)  Potential entry of new competitors 
B)  Rivalry among competing firms 
C)  Bargaining power of unions 
D)  Bargaining power of suppliers 
E)  Bargaining power of consumers 
A)  Potential entry of new competitors 
B)  Rivalry among competing firms 
C)  Bargaining power of unions 
D)  Bargaining power of suppliers 
E)  Bargaining power of consumers

Question 10

Who are the world's longest-living people?

Accepted Answer

A)  Americans 
B)  Mexicans 
C)  Indians 
D)  Filipinos 
E)  Japanese 
A)  Americans 
B)  Mexicans 
C)  Indians 
D)  Filipinos 
E)  Japanese

Question 11

According to Michael Porter, five competitive forces define the nature of competitiveness in a given industry: 1) rivalry among competing firms, 2) potential entry of new competitors, 3) potential development of substitute products, 4) bargaining power of suppliers, and 5) bargaining power of consumers.

Accepted Answer

A) True 
 B)False

Question 12

What are the five steps needed to develop an EFE Matrix?

Accepted Answer

The EFE Matrix can be developed in five

Question 13

Without reasonable assumptions, the strategy-formulation process could not proceed effectively.

Accepted Answer

A) True 
 B)False

Question 14

Political issues and stances impact strategic decisions.

Accepted Answer

A) True 
 B)False

Question 15

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

Accepted Answer

A) True 
 B)False

Question 16

Which of the following is NOT a published source of external strategic information?

Accepted Answer

A)  Periodicals 
B)  Customer surveys 
C)  Journals 
D)  Reports 
E)  Directories 
A)  Periodicals 
B)  Customer surveys 
C)  Journals 
D)  Reports 
E)  Directories

Question 17

According to Michael Porter, what are the forces that together define the nature of competitiveness in a given industry. Discuss the one force that is usually the most powerful.

Accepted Answer

According to Porter, the nature of compe

Question 18

________ is NOT a basic mission of a competitive intelligence program.

Accepted Answer

A)  Providing a general understanding of an industry 
B)  Providing a general understanding of a company's competitors 
C)  Identifying industry executives who could be hired by the firm 
D)  Identifying areas in which competitors are vulnerable and assessing the impact strategic actions would have on competitors 
E)  Identifying potential moves a competitor might make that would endanger a firm's position in the market 
A)  Providing a general understanding of an industry 
B)  Providing a general understanding of a company's competitors 
C)  Identifying industry executives who could be hired by the firm 
D)  Identifying areas in which competitors are vulnerable and assessing the impact strategic actions would have on competitors 
E)  Identifying potential moves a competitor might make that would endanger a firm's position in the market

Question 19

Wild guesses should never be made in formulating strategies.

Accepted Answer

A) True 
 B)False

Question 20

The critical success factors in a Competitive Profile Matrix and EFE Matrix include

Accepted Answer

A)  internal but not external issues. 
B)  external but not internal issues. 
C)  both internal and external issues. 
D)  neither internal or external issues. 
E)  only non-quantifiable data. 
A)  internal but not external issues. 
B)  external but not internal issues. 
C)  both internal and external issues. 
D)  neither internal or external issues. 
E)  only non-quantifiable data.

According to Porter, what is usually the most powerful of the five competitive forces?

In recent times, which of the following has largely refrained from protectionist measures?

India is increasing tariffs on foreign steel.

Discuss the process of performing an external audit.

Major competitors' strengths are areas of concern but do not represent key threats to a firm.

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

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

Major competitors' strengths may represent key threats.

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

Who are the world's longest-living people?

What are the five steps needed to develop an EFE Matrix?

Without reasonable assumptions, the strategy-formulation process could not proceed effectively.

Political issues and stances impact strategic decisions.

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

Which of the following is NOT a published source of external strategic information?

According to Michael Porter, what are the forces that together define the nature of competitiveness in a given industry. Discuss the one force that is usually the most powerful.

________ is NOT a basic mission of a competitive intelligence program.

Wild guesses should never be made in formulating strategies.

The critical success factors in a Competitive Profile Matrix and EFE Matrix include

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

According to Porter, what is usually the most powerful of the five competitive forces?

In recent times, which of the following has largely refrained from protectionist measures?

India is increasing tariffs on foreign steel.

Discuss the process of performing an external audit.

Major competitors' strengths are areas of concern but do not represent key threats to a firm.

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

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

Major competitors' strengths may represent key threats.

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

Who are the world's longest-living people?

What are the five steps needed to develop an EFE Matrix?

Without reasonable assumptions, the strategy-formulation process could not proceed effectively.

Political issues and stances impact strategic decisions.

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

Which of the following is NOT a published source of external strategic information?

According to Michael Porter, what are the forces that together define the nature of competitiveness in a given industry. Discuss the one force that is usually the most powerful.

________ is NOT a basic mission of a competitive intelligence program.

Wild guesses should never be made in formulating strategies.

The critical success factors in a Competitive Profile Matrix and EFE Matrix include

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