Question 1

Because the Internet lowers barriers to entry in most industries,it

Accepted Answer

A)  decreases the threat of new entrants. 
B)  increases supplier power. 
C)  makes it easier to build customer loyalty. 
D)  increases the threat of new entrants. 
A)  decreases the threat of new entrants. 
B)  increases supplier power. 
C)  makes it easier to build customer loyalty. 
D)  increases the threat of new entrants.

Question 2

Research published in Personnel Psychology shows that older workers are slightly more willing to implement organizational changes than younger workers.This is an example of which segment of the general environment?

Accepted Answer

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

Question 3

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 4

What is the difference between the demographic segment and the sociocultural segment in the list of general environment factors that impact the strategy and performance of a firm? Provide specific examples to support your discussion.

Accepted Answer

The demographic segment and the sociocul

Question 5

Banks and airlines are examples of two industries that track competitor offers continually.This is called the process of gathering

Accepted Answer

A)  consumer responses. 
B)  competitive intelligence. 
C)  past decisions. 
D)  mainline information. 
A)  consumer responses. 
B)  competitive intelligence. 
C)  past decisions. 
D)  mainline information.

Question 6

In 1977,Kenneth H.Olsen,then president of Digital Equipment Corp.,announced that there was no reason for individuals to have a computer in their home.Long since disproven,this is an example of

Accepted Answer

A)  poor forecasting of future consumer demand. 
B)  overestimation of uncertainty. 
C)  excellent forecasting. 
D)  good prediction skills. 
A)  poor forecasting of future consumer demand. 
B)  overestimation of uncertainty. 
C)  excellent forecasting. 
D)  good prediction skills.

Question 7

Airbnb,a room-sharing site,offers more rooms than Marriott.Goldman Sachs suggests that the supply of new rooms over the next two years will outpace the previous five even though the growth of American occupancy rates has begun to slow.Which competitive force is involved in this situation?

Accepted Answer

A)  the threat of favorable government policies 
B)  the threat of new buyers 
C)  the threat of new entrants 
D)  the threat of proprietary products 
A)  the threat of favorable government policies 
B)  the threat of new buyers 
C)  the threat of new entrants 
D)  the threat of proprietary products

Question 8

Strategic groups are clusters of firms that share ________ strategies.

Accepted Answer

A)  differing 
B)  the same 
C)  similar 
D)  new 
A)  differing 
B)  the same 
C)  similar 
D)  new

Question 9

SWOT analysis is a framework for analyzing the internal and external environment of a company.It consists of strengths,weaknesses,opportunities,and threats.According to a SWOT analysis,which of the following is not an aspect that the strategy of the firm must follow?

Accepted Answer

A)  build on its weaknesses 
B)  remedy the weaknesses or work around them 
C)  take advantage of the opportunities presented by the environment 
D)  protect the firm from the threats 
A)  build on its weaknesses 
B)  remedy the weaknesses or work around them 
C)  take advantage of the opportunities presented by the environment 
D)  protect the firm from the threats

Question 10

Competitive Intelligence (CI)is a tool that can provide management with early warnings about both threats and opportunities.

Accepted Answer

A) True 
 B)False

Question 11

In the value net analysis,complementors are

Accepted Answer

A)  firms that produce substitute products. 
B)  firms that produce products that have a positive impact on company product value. 
C)  customers who compliment the company for their good products and services. 
D)  firms that supply critical inputs to a company. 
A)  firms that produce substitute products. 
B)  firms that produce products that have a positive impact on company product value. 
C)  customers who compliment the company for their good products and services. 
D)  firms that supply critical inputs to a company.

Question 12

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 13

Boards of directors use outsiders to critique their strategy.This is necessary mostly to improve

Accepted Answer

A)  financial returns. 
B)  organizational hierarchy. 
C)  perceptual acuity. 
D)  employee relations. 
A)  financial returns. 
B)  organizational hierarchy. 
C)  perceptual acuity. 
D)  employee relations.

Question 14

In most industries,new entrants will not be a threat because the Internet lowers entry barriers.

Accepted Answer

A) True 
 B)False

Question 15

Fast fashion retailer success depends upon the ability to spot trends.Explain this in terms of environmental scanning,monitoring and collecting of competitive intelligence.Use an example to support your argument.Companies such as H&M and Zara fall into this category but there are many other competitors.

Accepted Answer

Fast fashion retailers like H&M and Zara

Question 16

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

Accepted Answer

A) True 
 B)False

Question 17

The aging of the population,changes in ethnic composition,and effects of the millennial generation are ________ changes.

Accepted Answer

A)  macroeconomic 
B)  global 
C)  sociocultural 
D)  demographic 
A)  macroeconomic 
B)  global 
C)  sociocultural 
D)  demographic

Question 18

Use the Quora website (www.quora.com)to study the African country of Ethiopia.According to the general environment factors listed in the textbook (demographic,sociocultural,political/legal,technological,economic,global),make a case for a company to include the country in its list of desirable customers.Be sure to define your company by industry.

Accepted Answer

As an AI language model, I do not have d

Question 19

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 20

________ tracks the evolution of environmental trends,sequences of events,or streams of activities.

Accepted Answer

A)  Environmental scanning 
B)  Environmental monitoring 
C)  Environmental surveying 
D)  Competitive intelligence 
A)  Environmental scanning 
B)  Environmental monitoring 
C)  Environmental surveying 
D)  Competitive intelligence

Because the Internet lowers barriers to entry in most industries,it

Research published in Personnel Psychology shows that older workers are slightly more willing to implement organizational changes than younger workers.This is an example of which segment of the general environment?

Buyer power will be greater when

What is the difference between the demographic segment and the sociocultural segment in the list of general environment factors that impact the strategy and performance of a firm? Provide specific examples to support your discussion.

Banks and airlines are examples of two industries that track competitor offers continually.This is called the process of gathering

In 1977,Kenneth H.Olsen,then president of Digital Equipment Corp.,announced that there was no reason for individuals to have a computer in their home.Long since disproven,this is an example of

Airbnb,a room-sharing site,offers more rooms than Marriott.Goldman Sachs suggests that the supply of new rooms over the next two years will outpace the previous five even though the growth of American occupancy rates has begun to slow.Which competitive force is involved in this situation?

Strategic groups are clusters of firms that share ________ strategies.

SWOT analysis is a framework for analyzing the internal and external environment of a company.It consists of strengths,weaknesses,opportunities,and threats.According to a SWOT analysis,which of the following is not an aspect that the strategy of the firm must follow?

Competitive Intelligence (CI)is a tool that can provide management with early warnings about both threats and opportunities.

In the value net analysis,complementors are

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

Boards of directors use outsiders to critique their strategy.This is necessary mostly to improve

In most industries,new entrants will not be a threat because the Internet lowers entry barriers.

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

The aging of the population,changes in ethnic composition,and effects of the millennial generation are ________ changes.

Strategic groups consist of a group of

________ tracks the evolution of environmental trends,sequences of events,or streams of activities.

Strategic Management: Creating Competitive Advantages

Assessing the Internal Environment of the Firm

Recognizing a Firm's Intellectual Assets: Moving Beyond a Firm's 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

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

Because the Internet lowers barriers to entry in most industries,it

Research published in Personnel Psychology shows that older workers are slightly more willing to implement organizational changes than younger workers.This is an example of which segment of the general environment?

Buyer power will be greater when

What is the difference between the demographic segment and the sociocultural segment in the list of general environment factors that impact the strategy and performance of a firm? Provide specific examples to support your discussion.

Banks and airlines are examples of two industries that track competitor offers continually.This is called the process of gathering

In 1977,Kenneth H.Olsen,then president of Digital Equipment Corp.,announced that there was no reason for individuals to have a computer in their home.Long since disproven,this is an example of

Airbnb,a room-sharing site,offers more rooms than Marriott.Goldman Sachs suggests that the supply of new rooms over the next two years will outpace the previous five even though the growth of American occupancy rates has begun to slow.Which competitive force is involved in this situation?

Strategic groups are clusters of firms that share ________ strategies.

SWOT analysis is a framework for analyzing the internal and external environment of a company.It consists of strengths,weaknesses,opportunities,and threats.According to a SWOT analysis,which of the following is not an aspect that the strategy of the firm must follow?

Competitive Intelligence (CI)is a tool that can provide management with early warnings about both threats and opportunities.

In the value net analysis,complementors are

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

Boards of directors use outsiders to critique their strategy.This is necessary mostly to improve

In most industries,new entrants will not be a threat because the Internet lowers entry barriers.

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

The aging of the population,changes in ethnic composition,and effects of the millennial generation are ________ changes.

Strategic groups consist of a group of

________ tracks the evolution of environmental trends,sequences of events,or streams of activities.

Strategic Management: Creating Competitive Advantages

Assessing the Internal Environment of the Firm

Recognizing a Firm's Intellectual Assets: Moving Beyond a Firm's 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