Question 1

Which of the following is an example of a potential substitute product?

Accepted Answer

A)  Hand sanitizer for soap. 
B)  Ink cartridges for printers. 
C)  Mops for detergent. 
D)  iTunes for iPods. 
E)  Furniture for apartments. 
A)  Hand sanitizer for soap. 
B)  Ink cartridges for printers. 
C)  Mops for detergent. 
D)  iTunes for iPods. 
E)  Furniture for apartments.

Question 2

Despite government crackdowns, immigration is one reason why the labor force will be more ethnically diverse in the future than it is today.

Accepted Answer

A) True 
 B)False

Question 3

Discuss three independent strategies that a firm may use as a proactive response to its environment.

Accepted Answer

1. Diversification: One proactive respon

Question 4

The two dimensions upon which the competing values model of culture is defined are

Accepted Answer

A)  Flexibility vs. control AND internal vs. external focus of the organization. 
B)  Levels of hierarchy vs. levels of empowerment. 
C)  Leadership type vs. levels of hierarchy. 
D)  Degree of environmental scanning vs. level of empowerment. 
E)  Level of environmental scanning vs. level of environmental influence. 
A)  Flexibility vs. control AND internal vs. external focus of the organization. 
B)  Levels of hierarchy vs. levels of empowerment. 
C)  Leadership type vs. levels of hierarchy. 
D)  Degree of environmental scanning vs. level of empowerment. 
E)  Level of environmental scanning vs. level of environmental influence.

Question 5

A firm's competitive environment includes new entrants, as well as substitutes and complements.

Accepted Answer

A) True 
 B)False

Question 6

Advances in genetic engineering and biotechnology are expected to produce some food products that will be available year-round even in northern climates. This provides grocers an opportunity to reduce shipping costs while at the same time offering fresher produce to customers. These advances are an example of changes in the

Accepted Answer

A)  Technological environment. 
B)  Economic environment. 
C)  Political environment. 
D)  Demographic environment. 
E)  Ecological environment. 
A)  Technological environment. 
B)  Economic environment. 
C)  Political environment. 
D)  Demographic environment. 
E)  Ecological environment.

Question 7

If an organization's culture is internally oriented and flexible and tends to be based on the values and norms associated with affiliation, it could best be described as _______, according to the competing values model.

Accepted Answer

A)  a group culture 
B)  a hierarchical culture 
C)  a rational culture 
D)  an adhocracy 
E)  values-oriented 
A)  a group culture 
B)  a hierarchical culture 
C)  a rational culture 
D)  an adhocracy 
E)  values-oriented

Question 8

When investors bid up stock prices, companies have less capital to fuel their strategies.

Accepted Answer

A) True 
 B)False

Question 9

Managers with ready access to information

Accepted Answer

A)  Increase costs. 
B)  Are able to manage and communicate more effectively. 
C)  Are in danger of losing power to rivals or suppliers. 
D)  Decrease their span of control. 
E)  Always increase sales. 
A)  Increase costs. 
B)  Are able to manage and communicate more effectively. 
C)  Are in danger of losing power to rivals or suppliers. 
D)  Decrease their span of control. 
E)  Always increase sales.

Question 10

Using international bribery as a business tactic may result in fines for U.S. firms. This statement reflects which type of environmental force at work?

Accepted Answer

A)  Competitive. 
B)  Economic. 
C)  Legal/political. 
D)  Societal values. 
E)  Demographics. 
A)  Competitive. 
B)  Economic. 
C)  Legal/political. 
D)  Societal values. 
E)  Demographics.

Question 11

The competitive environment consists of

Accepted Answer

A)  The firm and its rivals, suppliers, customers (buyers), new entrants, and substitute or complementary products. 
B)  Only those organizations on which the focal organization to provide supplies and materials. 
C)  The workers of the organizations that complete the organization's activities. 
D)  The organizations that hold the firm accountable to their stakeholders. 
E)  The broader influences that affect a firm's competitive advantage. 
A)  The firm and its rivals, suppliers, customers (buyers), new entrants, and substitute or complementary products. 
B)  Only those organizations on which the focal organization to provide supplies and materials. 
C)  The workers of the organizations that complete the organization's activities. 
D)  The organizations that hold the firm accountable to their stakeholders. 
E)  The broader influences that affect a firm's competitive advantage.

Question 12

Organizations that are defenders are more likely to engage in strategic maneuvering than are prospectors.

Accepted Answer

A) True 
 B)False

Question 13

Regulatory agencies set rules but are typically weak institutions since they do not have the power to investigate company practices or to take legal action to ensure compliance with the law.

Accepted Answer

A) True 
 B)False

Question 14

List the five elements of a firm's macroenvironment and illustrate how each affects the firm.

Accepted Answer

The five elements of a firm's macroenvir

Question 15

Armando was recently hired as the workplace safety compliance officer at Preston Mining Company. Armando will have the responsibility to monitor regulations from which of these government agencies?

Accepted Answer

A)  FCC. 
B)  EPA. 
C)  SEC. 
D)  OSHA. 
E)  NLRB. 
A)  FCC. 
B)  EPA. 
C)  SEC. 
D)  OSHA. 
E)  NLRB.

Question 16

Walmart recently engaged Amazon.com in a price war, offering best-selling books for first $10, then $9; and now Target has jumped into the war with best sellers for $8.98. This scenario is an example of which aspect of the competitive environment?

Accepted Answer

A)  Customers. 
B)  Competitors. 
C)  Regulators. 
D)  The economy. 
E)  Substitutes. 
A)  Customers. 
B)  Competitors. 
C)  Regulators. 
D)  The economy. 
E)  Substitutes.

Question 17

Red Bull, an energy drink, is a competitor to Pepsi.

Accepted Answer

A) True 
 B)False

Question 18

Methods for adapting the technical core to changes in the environment are called

Accepted Answer

A)  Flexible processes. 
B)  Smoothing effects. 
C)  Buffering. 
D)  Benchmarking. 
E)  Environmental scanning. 
A)  Flexible processes. 
B)  Smoothing effects. 
C)  Buffering. 
D)  Benchmarking. 
E)  Environmental scanning.

Question 19

Measures of various characteristics of the people who make up groups or other social units are called

Accepted Answer

A)  Psychographics. 
B)  Demographics. 
C)  Social characteristics. 
D)  Lifestyle analytics. 
E)  Unit characterization. 
A)  Psychographics. 
B)  Demographics. 
C)  Social characteristics. 
D)  Lifestyle analytics. 
E)  Unit characterization.

Question 20

Which of the following is an element of Porter's model for analyzing the competitive environment?

Accepted Answer

A)  Substitutes and complements. 
B)  Cost strategy. 
C)  Potential customers. 
D)  Regulatory forces. 
E)  SBU strategy. 
A)  Substitutes and complements. 
B)  Cost strategy. 
C)  Potential customers. 
D)  Regulatory forces. 
E)  SBU strategy.

Which of the following is an example of a potential substitute product?

Despite government crackdowns, immigration is one reason why the labor force will be more ethnically diverse in the future than it is today.

Discuss three independent strategies that a firm may use as a proactive response to its environment.

The two dimensions upon which the competing values model of culture is defined are

A firm's competitive environment includes new entrants, as well as substitutes and complements.

If an organization's culture is internally oriented and flexible and tends to be based on the values and norms associated with affiliation, it could best be described as _______, according to the competing values model.

When investors bid up stock prices, companies have less capital to fuel their strategies.

Managers with ready access to information

Using international bribery as a business tactic may result in fines for U.S. firms. This statement reflects which type of environmental force at work?

The competitive environment consists of

Organizations that are defenders are more likely to engage in strategic maneuvering than are prospectors.

Regulatory agencies set rules but are typically weak institutions since they do not have the power to investigate company practices or to take legal action to ensure compliance with the law.

List the five elements of a firm's macroenvironment and illustrate how each affects the firm.

Armando was recently hired as the workplace safety compliance officer at Preston Mining Company. Armando will have the responsibility to monitor regulations from which of these government agencies?

Walmart recently engaged Amazon.com in a price war, offering best-selling books for first $10, then $9; and now Target has jumped into the war with best sellers for $8.98. This scenario is an example of which aspect of the competitive environment?

Red Bull, an energy drink, is a competitor to Pepsi.

Methods for adapting the technical core to changes in the environment are called

Measures of various characteristics of the people who make up groups or other social units are called

Which of the following is an element of Porter's model for analyzing the competitive environment?

Managing and Performing

Managerial Decision Making

Planning and Strategic Management

Ethics, Corporate Responsibility, and Sustainability

International Management

Entrepreneurship

Organization Structure

Organizational Agility

Human Resources Management

Managing the Diverse Workforce

Leadership

Motivating for Performance

Teamwork

Communicating

Managerial Control

Managing Technology and Innovation

Creating and Leading Change

Filters

Exam 2: The External and Internal Environments

Which of the following is an example of a potential substitute product?

Despite government crackdowns, immigration is one reason why the labor force will be more ethnically diverse in the future than it is today.

Discuss three independent strategies that a firm may use as a proactive response to its environment.

The two dimensions upon which the competing values model of culture is defined are

A firm's competitive environment includes new entrants, as well as substitutes and complements.

If an organization's culture is internally oriented and flexible and tends to be based on the values and norms associated with affiliation, it could best be described as _______, according to the competing values model.

When investors bid up stock prices, companies have less capital to fuel their strategies.

Managers with ready access to information

Using international bribery as a business tactic may result in fines for U.S. firms. This statement reflects which type of environmental force at work?

The competitive environment consists of

Organizations that are defenders are more likely to engage in strategic maneuvering than are prospectors.

Regulatory agencies set rules but are typically weak institutions since they do not have the power to investigate company practices or to take legal action to ensure compliance with the law.

List the five elements of a firm's macroenvironment and illustrate how each affects the firm.

Armando was recently hired as the workplace safety compliance officer at Preston Mining Company. Armando will have the responsibility to monitor regulations from which of these government agencies?

Walmart recently engaged Amazon.com in a price war, offering best-selling books for first $10, then $9; and now Target has jumped into the war with best sellers for $8.98. This scenario is an example of which aspect of the competitive environment?

Red Bull, an energy drink, is a competitor to Pepsi.

Methods for adapting the technical core to changes in the environment are called

Measures of various characteristics of the people who make up groups or other social units are called

Which of the following is an element of Porter's model for analyzing the competitive environment?

Managing and Performing

Managerial Decision Making

Planning and Strategic Management

Ethics, Corporate Responsibility, and Sustainability

International Management

Entrepreneurship

Organization Structure

Organizational Agility

Human Resources Management

Managing the Diverse Workforce

Leadership

Motivating for Performance

Teamwork

Communicating

Managerial Control

Managing Technology and Innovation

Creating and Leading Change

Filters