Question 1

Identify four factors that affect whether an industry does or does not present a company with a good business opportunity.

Accepted Answer

An industry's key success factors (KSFs)

Question 2

The best test of whether potential entry is a strong or weak competitive force is:

Accepted Answer

A)  the strength of buyer loyalty to existing brands. 
B)  whether the industry's driving forces make it harder or easier for new entrants to be successful. 
C)  whether the strategies of industry members are well-matched to the industry's key success factors. 
D)  whether there are any vacant spaces on the industry's strategic group map. 
E)  to ask if the industry's growth and profit prospects are strongly attractive to potential entry candidates. 
A)  the strength of buyer loyalty to existing brands. 
B)  whether the industry's driving forces make it harder or easier for new entrants to be successful. 
C)  whether the strategies of industry members are well-matched to the industry's key success factors. 
D)  whether there are any vacant spaces on the industry's strategic group map. 
E)  to ask if the industry's growth and profit prospects are strongly attractive to potential entry candidates.

Question 3

Buyers are in position to exert strong bargaining power in dealing with sellers when:

Accepted Answer

A)  their costs to switch to competing brands or to substitute products are relatively high. 
B)  a particular seller's product delivers quality or performance that is very important to the buyer and is not matched by other brands. 
C)  they buy the product infrequently or in small quantities and are not particularly well-informed about sellers' products,prices,and costs. 
D)  buyer demand is growing rapidly. 
E)  buyers are price-sensitive due to the product representing a significant fraction of their purchases. 
A)  their costs to switch to competing brands or to substitute products are relatively high. 
B)  a particular seller's product delivers quality or performance that is very important to the buyer and is not matched by other brands. 
C)  they buy the product infrequently or in small quantities and are not particularly well-informed about sellers' products,prices,and costs. 
D)  buyer demand is growing rapidly. 
E)  buyers are price-sensitive due to the product representing a significant fraction of their purchases.

Question 4

The key success factors in an industry:

Accepted Answer

A)  are those competitive factors that most affect industry members' abilities to prosper in the marketplace-the particular strategy elements,product attributes,operational approaches,resources,and competitive capabilities that spell the difference between being a strong competitor and a weak one,and between profit and loss. 
B)  are determined by the industry's driving forces,which are essential to surviving and thriving in the industry. 
C)  hinge on how many different strategic groups the industry has operating within the industry and their level of profitability and sustainable advantages. 
D)  depend on how many rivals are trying to move from one strategic group to another without losing momentum. 
E)  are a function of such considerations as how many firms are in the industry,how many have market shares above 5 percent,and whether the business models being used are similar or diverse. 
A)  are those competitive factors that most affect industry members' abilities to prosper in the marketplace-the particular strategy elements,product attributes,operational approaches,resources,and competitive capabilities that spell the difference between being a strong competitor and a weak one,and between profit and loss. 
B)  are determined by the industry's driving forces,which are essential to surviving and thriving in the industry. 
C)  hinge on how many different strategic groups the industry has operating within the industry and their level of profitability and sustainable advantages. 
D)  depend on how many rivals are trying to move from one strategic group to another without losing momentum. 
E)  are a function of such considerations as how many firms are in the industry,how many have market shares above 5 percent,and whether the business models being used are similar or diverse.

Question 5

A company's "macro-environment" refers to:

Accepted Answer

A)  the industry and the competitive arena in which the company operates. 
B)  general economic conditions plus the factors driving change in the markets where a company operates. 
C)  the strategically relevant factors outside a company's industry boundaries-economic conditions,political factors,sociocultural forces,technological factors,environmental factors,and legal/regulatory conditions. 
D)  the competitive market environment that exists between a company and its competitors. 
E)  the dominant economic features of a company's industry. 
A)  the industry and the competitive arena in which the company operates. 
B)  general economic conditions plus the factors driving change in the markets where a company operates. 
C)  the strategically relevant factors outside a company's industry boundaries-economic conditions,political factors,sociocultural forces,technological factors,environmental factors,and legal/regulatory conditions. 
D)  the competitive market environment that exists between a company and its competitors. 
E)  the dominant economic features of a company's industry.

Identify four factors that affect whether an industry does or does not present a company with a good business opportunity.

The best test of whether potential entry is a strong or weak competitive force is:

Buyers are in position to exert strong bargaining power in dealing with sellers when:

The key success factors in an industry:

A company's "macro-environment" refers to:

What Is Strategy and Why Is It Important

Charting a Companys Direction: Its Vision, Mission, Objectives, Andstrategy

Evaluating a Companys Resources, Capabilities, and Competitiveness

The Five Generic Competitive Strategies

Strengthening a Companys Competitive Position

Strategies for Competing in International Markets

Corporate Strategy

Ethics, Corporate Social Responsibility, Environmental-Sustainability, and Strategy

Building an Organization Capable of Good Strategy Execution

Managing Internal Operations

Corporate Culture and Leadership

Filters

Exam 3: Evaluating a Companys External Environment

Identify four factors that affect whether an industry does or does not present a company with a good business opportunity.

The best test of whether potential entry is a strong or weak competitive force is:

Buyers are in position to exert strong bargaining power in dealing with sellers when:

The key success factors in an industry:

A company's "macro-environment" refers to:

What Is Strategy and Why Is It Important

Charting a Companys Direction: Its Vision, Mission, Objectives, Andstrategy

Evaluating a Companys Resources, Capabilities, and Competitiveness

The Five Generic Competitive Strategies

Strengthening a Companys Competitive Position

Strategies for Competing in International Markets

Corporate Strategy

Ethics, Corporate Social Responsibility, Environmental-Sustainability, and Strategy

Building an Organization Capable of Good Strategy Execution

Managing Internal Operations

Corporate Culture and Leadership

Filters