Question 1

Competition in virtually all industries is

Accepted Answer

A)  nonexistent. 
B)  intense. 
C)  never cutthroat. 
D)  easily avoidable. 
E)  insignificant. 
A)  nonexistent. 
B)  intense. 
C)  never cutthroat. 
D)  easily avoidable. 
E)  insignificant.

Question 2

Unpublished sources of external strategic information include all of the following EXCEPT

Accepted Answer

A)  abstracts. 
B)  customer surveys. 
C)  market research. 
D)  speeches at professional and shareholders' meetings. 
E)  conversations with stakeholders. 
A)  abstracts. 
B)  customer surveys. 
C)  market research. 
D)  speeches at professional and shareholders' meetings. 
E)  conversations with stakeholders.

Question 3

When the products being purchased are standard or undifferentiated, it results in ________ bargaining power of consumers.

Accepted Answer

A)  marginalized 
B)  lower 
C)  higher 
D)  negative 
E)  negligible 
A)  marginalized 
B)  lower 
C)  higher 
D)  negative 
E)  negligible

Question 4

To perform an external audit, a company first must

Accepted Answer

A)  get an approval from the Securities and Exchange Commission. 
B)  perform an internal audit. 
C)  gather competitive intelligence and information about external trends. 
D)  hire a consultant to develop a comprehensive strategic plan. 
E)  all of the above 
A)  get an approval from the Securities and Exchange Commission. 
B)  perform an internal audit. 
C)  gather competitive intelligence and information about external trends. 
D)  hire a consultant to develop a comprehensive strategic plan. 
E)  all of the above

Question 5

The critical success factors in a Competitive Profile Matrix (CPM) and an External Factor Evaluation (EFE) Matrix include both internal and external issues.

Accepted Answer

A) True 
 B)False

Question 6

It is predicted that, by 2050, over 20 percent of the population in the United States will be 65 years or older.

Accepted Answer

A) True 
 B)False

Question 7

The historical trend of people moving from the Northeast and Midwest to the Sunbelt and West has dramatically increased.

Accepted Answer

A) True 
 B)False

Question 8

What is the range for a firm's total weighted score in a Competitive Profile Matrix (CPM)?

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 9

By 2075, the United States will have no racial or ethnic majority.

Accepted Answer

A) True 
 B)False

Question 10

Hawaii, California, and ________ already have no majority race or ethnic group.

Accepted Answer

A)  New York 
B)  New Jersey 
C)  New Hampshire 
D)  New Mexico 
E)  all of the above 
A)  New York 
B)  New Jersey 
C)  New Hampshire 
D)  New Mexico 
E)  all of the above

Question 11

Forecasts are educated assumptions about future trends and events.

Accepted Answer

A) True 
 B)False

Question 12

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

Accepted Answer

A) True 
 B)False

Question 13

What are the five major types of external forces that should be examined as part of an external audit? Give an example of each type of force.

Accepted Answer

External forces can be divided into five

Question 14

An external audit focuses on identifying and evaluating trends and events within the control of management.

Accepted Answer

A) True 
 B)False

Question 15

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

Accepted Answer

A) True 
 B)False

Competition in virtually all industries is

Unpublished sources of external strategic information include all of the following EXCEPT

When the products being purchased are standard or undifferentiated, it results in ________ bargaining power of consumers.

To perform an external audit, a company first must

The critical success factors in a Competitive Profile Matrix (CPM) and an External Factor Evaluation (EFE) Matrix include both internal and external issues.

It is predicted that, by 2050, over 20 percent of the population in the United States will be 65 years or older.

The historical trend of people moving from the Northeast and Midwest to the Sunbelt and West has dramatically increased.

What is the range for a firm's total weighted score in a Competitive Profile Matrix (CPM)?

By 2075, the United States will have no racial or ethnic majority.

Hawaii, California, and ________ already have no majority race or ethnic group.

Forecasts are educated assumptions about future trends and events.

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

What are the five major types of external forces that should be examined as part of an external audit? Give an example of each type of force.

An external audit focuses on identifying and evaluating trends and events within the control of management.

An effective competitive intelligence 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, 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

Competition in virtually all industries is

Unpublished sources of external strategic information include all of the following EXCEPT

When the products being purchased are standard or undifferentiated, it results in ________ bargaining power of consumers.

To perform an external audit, a company first must

The critical success factors in a Competitive Profile Matrix (CPM) and an External Factor Evaluation (EFE) Matrix include both internal and external issues.

It is predicted that, by 2050, over 20 percent of the population in the United States will be 65 years or older.

The historical trend of people moving from the Northeast and Midwest to the Sunbelt and West has dramatically increased.

What is the range for a firm's total weighted score in a Competitive Profile Matrix (CPM)?

By 2075, the United States will have no racial or ethnic majority.

Hawaii, California, and ________ already have no majority race or ethnic group.

Forecasts are educated assumptions about future trends and events.

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

What are the five major types of external forces that should be examined as part of an external audit? Give an example of each type of force.

An external audit focuses on identifying and evaluating trends and events within the control of management.

An effective competitive intelligence 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, 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