Question 1

Buyer power will be greater when

Accepted Answer

A) the products purchased are highly differentiated. 
B) it is concentrated or when a buyer group purchases large volumes relative to seller sales. 
C) the industry product is very important to the quality of the buyer end products or services. 
D) there are high switching costs. 
A) the products purchased are highly differentiated. 
B) it is concentrated or when a buyer group purchases large volumes relative to seller sales. 
C) the industry product is very important to the quality of the buyer end products or services. 
D) there are high switching costs.

Question 2

An automobile manufacturer acquires a rental car company.This is an example of

Accepted Answer

A) backward integration. 
B) forward integration. 
C) economies of scale. 
D) product differentiation. 
A) backward integration. 
B) forward integration. 
C) economies of scale. 
D) product differentiation.

Question 3

Strategic groups consist of a group of

Accepted Answer

A) top executives that makes strategies for a company. 
B) executives drawn from different companies within an industry that makes decisions on industry standards. 
C) firms within an industry that decides to collude rather than compete with each other so that they can increase their profits. 
D) firms within an industry that follows similar strategies. 
A) top executives that makes strategies for a company. 
B) executives drawn from different companies within an industry that makes decisions on industry standards. 
C) firms within an industry that decides to collude rather than compete with each other so that they can increase their profits. 
D) firms within an industry that follows similar strategies.

Question 4

Using the five-forces model,explain how the threat of new entrants might affect a U.S.-based manufacturer of lead acid batteries used for industrial storage.

Accepted Answer

The threat of new entrants in the lead a

Question 5

Two non-competing global firms meet quarterly to discuss multiple perspectives on world trends.This is an example of how to improve

Accepted Answer

A) stakeholder management. 
B) perceptual acuity. 
C) internal scanning. 
D) financial returns. 
A) stakeholder management. 
B) perceptual acuity. 
C) internal scanning. 
D) financial returns.

Question 6

Why must successful managers recognize opportunities and threats in their company external environment?

Accepted Answer

A) If they miscalculate the market,opportunities will be lost. 
B) If they misread the market,they are likely to become rich. 
C) If they identify all of the environmental threats,they are guaranteed to acquire large market share. 
D) If they identify all of the environmental opportunities,they are guaranteed to acquire large market share. 
A) If they miscalculate the market,opportunities will be lost. 
B) If they misread the market,they are likely to become rich. 
C) If they identify all of the environmental threats,they are guaranteed to acquire large market share. 
D) If they identify all of the environmental opportunities,they are guaranteed to acquire large market share.

Question 7

Genetic engineering has had a positive impact on the pharmaceutical industry.This is an example of which type of general environmental trend?

Accepted Answer

A) economic 
B) demographic 
C) technological 
D) political and legal 
A) economic 
B) demographic 
C) technological 
D) political and legal

Question 8

A major sociocultural trend in the United States is the increased number of women in the workforce that has increased the need for business clothing but decreased the demand for baking product staples.

Accepted Answer

A) True 
 B)False

Question 9

Gathering competitive intelligence

Accepted Answer

A) is illegal. 
B) is good business practice. 
C) is considered unethical. 
D) minimizes the need to obtain information in the public domain. 
A) is illegal. 
B) is good business practice. 
C) is considered unethical. 
D) minimizes the need to obtain information in the public domain.

Question 10

Technological innovations can create entirely new industries and alter the boundaries of industries.

Accepted Answer

A) True 
 B)False

Question 11

By emphasizing the importance of identifying opportunities and threats,the SWOT framework makes firms act ________ rather than ________.

Accepted Answer

A) quickly;slowly 
B) immediately;eventually 
C) proactively;reactively 
D) intelligently;uninformed 
A) quickly;slowly 
B) immediately;eventually 
C) proactively;reactively 
D) intelligently;uninformed

Question 12

In the SWOT framework,the Strengths and Weaknesses are external environmental factors to consider.

Accepted Answer

A) True 
 B)False

Question 13

Which of the following firms would likely pose the least competitive threat?

Accepted Answer

A) a firm in the same industry and in the same strategic group 
B) a competitor to your product where a high switching cost exists 
C) a firm that produces substitute goods to your product line 
D) a firm in the same industry and in the nearest strategic group looking to join your group 
A) a firm in the same industry and in the same strategic group 
B) a competitor to your product where a high switching cost exists 
C) a firm that produces substitute goods to your product line 
D) a firm in the same industry and in the nearest strategic group looking to join your group

Question 14

In the SWOT framework,Opportunities and Threats are environmental conditions internal to the firm.

Accepted Answer

A) True 
 B)False

Question 15

The bargaining power of suppliers is enhanced under which following market condition?

Accepted Answer

A) no threat of forward integration 
B) low differentiation of the supplier products 
C) greater availability of substitute products 
D) dominance by a few suppliers 
A) no threat of forward integration 
B) low differentiation of the supplier products 
C) greater availability of substitute products 
D) dominance by a few suppliers

Question 16

In the SWOT framework,________ are the same for all firms in the same competitive environment.

Accepted Answer

A) strengths and weaknesses 
B) strengths and opportunities 
C) weaknesses and threats 
D) opportunities and threats 
A) strengths and weaknesses 
B) strengths and opportunities 
C) weaknesses and threats 
D) opportunities and threats

Question 17

In the five-forces model,conditions under which a supplier group can be powerful include all of the following except

Accepted Answer

A) lack of importance of the buyer to the supplier group. 
B) high differentiation by the supplier. 
C) readily available substitute products. 
D) dominance by a few suppliers. 
A) lack of importance of the buyer to the supplier group. 
B) high differentiation by the supplier. 
C) readily available substitute products. 
D) dominance by a few suppliers.

Question 18

Data Analytics are being used by corporations to understand their customer purchasing patterns.This is an example of which segment of the general environment?

Accepted Answer

A) economic 
B) demographic 
C) technological 
D) political and legal 
A) economic 
B) demographic 
C) technological 
D) political and legal

Question 19

Scanning the general environment would identify information on

Accepted Answer

A) substitute goods. 
B) customer and firm bargaining power. 
C) the aging population and ethnic shifts. 
D) competitive rivalry. 
A) substitute goods. 
B) customer and firm bargaining power. 
C) the aging population and ethnic shifts. 
D) competitive rivalry.

Question 20

Strategic groups consist of firms that are more ________ to each other than firms that are not.

Accepted Answer

A) familiar 
B) similar 
C) friendly 
D) useful 
A) familiar 
B) similar 
C) friendly 
D) useful

Buyer power will be greater when

An automobile manufacturer acquires a rental car company.This is an example of

Strategic groups consist of a group of

Using the five-forces model,explain how the threat of new entrants might affect a U.S.-based manufacturer of lead acid batteries used for industrial storage.

Two non-competing global firms meet quarterly to discuss multiple perspectives on world trends.This is an example of how to improve

Why must successful managers recognize opportunities and threats in their company external environment?

Genetic engineering has had a positive impact on the pharmaceutical industry.This is an example of which type of general environmental trend?

A major sociocultural trend in the United States is the increased number of women in the workforce that has increased the need for business clothing but decreased the demand for baking product staples.

Gathering competitive intelligence

Technological innovations can create entirely new industries and alter the boundaries of industries.

By emphasizing the importance of identifying opportunities and threats,the SWOT framework makes firms act rather than .

In the SWOT framework,the Strengths and Weaknesses are external environmental factors to consider.

Which of the following firms would likely pose the least competitive threat?

In the SWOT framework,Opportunities and Threats are environmental conditions internal to the firm.

The bargaining power of suppliers is enhanced under which following market condition?

In the SWOT framework,________ are the same for all firms in the same competitive environment.

In the five-forces model,conditions under which a supplier group can be powerful include all of the following except

Data Analytics are being used by corporations to understand their customer purchasing patterns.This is an example of which segment of the general environment?

Scanning the general environment would identify information on

Strategic groups consist of firms that are more ________ to each other than firms that are not.

Strategic Management: Creating Competitive Advantages

Assessing the Internal Environment of the Firm

Recognizing a Firms Intellectual Assets: Moving Beyond a Firms Tangible Resources

Business-Level Strategy: Creating and Sustaining Competitive Advantages

Corporate-Level Strategy: Creating Value Through Diversification

International Strategy: Creating Value in Global Markets

Entrepreneurial Strategy and Competitive Dynamics

Strategic Control and Corporate Governance

Creating Effective Organizational Designs

Strategic Leadership: Creating a Learning Organization and an Ethical Organization

Managing Innovation and Fostering Corporate Entrepreneurship

Filters

Exam 2: Analyzing the External Environment of the Firm: Creating Competitive Advantages

Buyer power will be greater when

An automobile manufacturer acquires a rental car company.This is an example of

Strategic groups consist of a group of

Using the five-forces model,explain how the threat of new entrants might affect a U.S.-based manufacturer of lead acid batteries used for industrial storage.

Two non-competing global firms meet quarterly to discuss multiple perspectives on world trends.This is an example of how to improve

Why must successful managers recognize opportunities and threats in their company external environment?

Genetic engineering has had a positive impact on the pharmaceutical industry.This is an example of which type of general environmental trend?

A major sociocultural trend in the United States is the increased number of women in the workforce that has increased the need for business clothing but decreased the demand for baking product staples.

Gathering competitive intelligence

Technological innovations can create entirely new industries and alter the boundaries of industries.

By emphasizing the importance of identifying opportunities and threats,the SWOT framework makes firms act ________ rather than ________.

In the SWOT framework,the Strengths and Weaknesses are external environmental factors to consider.

Which of the following firms would likely pose the least competitive threat?

In the SWOT framework,Opportunities and Threats are environmental conditions internal to the firm.

The bargaining power of suppliers is enhanced under which following market condition?

In the SWOT framework,________ are the same for all firms in the same competitive environment.

In the five-forces model,conditions under which a supplier group can be powerful include all of the following except

Data Analytics are being used by corporations to understand their customer purchasing patterns.This is an example of which segment of the general environment?

Scanning the general environment would identify information on

Strategic groups consist of firms that are more ________ to each other than firms that are not.

Strategic Management: Creating Competitive Advantages

Assessing the Internal Environment of the Firm

Recognizing a Firms Intellectual Assets: Moving Beyond a Firms Tangible Resources

Business-Level Strategy: Creating and Sustaining Competitive Advantages

Corporate-Level Strategy: Creating Value Through Diversification

International Strategy: Creating Value in Global Markets

Entrepreneurial Strategy and Competitive Dynamics

Strategic Control and Corporate Governance

Creating Effective Organizational Designs

Strategic Leadership: Creating a Learning Organization and an Ethical Organization

Managing Innovation and Fostering Corporate Entrepreneurship

Filters

By emphasizing the importance of identifying opportunities and threats,the SWOT framework makes firms act rather than .