Exam 4: Exploring the External Environment: Macro Industry and Dynamics

Complimentors are players who provide complementary rather than competing products and services. This category has been associated with the five-forces model and includes all but which of the following elements?

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Question 1

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What is the PESTEL analysis and how is it used?

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Question 2

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PESTEL is an acronym for the political, economic, sociocultural, technological, environmental, and legal context in which a firm operates. It is used to gain an understanding of the big picture of a firm's external environment. It helps managers gain a better understanding of the opportunities and threats they face and consequently aids them in building a better vision of the future business landscape and how the firm might compete profitably. Its primary focus is on the future impact of macro environmental factors.

All of the following are examples of economic factors except ________.

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Question 3

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Suppliers are powerful when they control such factors as prices, delivery lead times, and ________.

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Question 4

Industry analysis can give firms an advantage when making decisions. This analysis helps managers determine the nature of the competition, the possible sources of imperfect competition, and the ________.

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Question 5

Consumers affect industry profits indirectly when they exercise power as the last link of an industry value chain.

(True/False)

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Question 6

Supplier power is reduced when firms in a focal industry present a threat of backward integration.

(True/False)

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Question 7

Legal factors must be considered when performing an analysis of a firm's external environment. Common factors include the ease with which regulations can change, the cost of regulatory compliance, and ________.

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Question 8

Firms must be sensitive to environmental factors when relocating to a new area. Some ways that firms express this sensitivity are by participating in all but which of the following activities?

(Multiple Choice)

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Question 9

Once a strategy is congruent with PESTEL in a firm's home environment, it will be aligned in new geographic areas.

(True/False)

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Question 10

In the model of industry analysis, the force that may increase profits by increasing demand for an industry's products is ________.

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Question 11

Barriers to entry include all of the following except ________.

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Question 12

How can managers best determine if their industries have globalized or are in the process of globalizing?

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Question 13

What factors tend to increase rivalry?

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Question 14

A subset of firms that compete against each other more intensely than with other firms in the industry are called ________.

(Multiple Choice)

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Question 15

Rivalry is the intensity of competition within an industry.

(True/False)

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Question 16

Two trends that resulted in changes to the bottling industry were building large plants to serve multiple markets and beverage producers entering the bottling industry.

(True/False)

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Question 17

The degree to which products of one industry can satisfy the same demand as those of another is called ________.

(Multiple Choice)

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Question 18

How does industry analysis affect strategy formulation?

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Question 19

The requisite skills that all firms in an industry must possess in order to be viable competitors are called ________.

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Question 20

Showing 1 - 20 of 196

Complimentors are players who provide complementary rather than competing products and services. This category has been associated with the five-forces model and includes all but which of the following elements?

What is the PESTEL analysis and how is it used?

All of the following are examples of economic factors except ________.

Suppliers are powerful when they control such factors as prices, delivery lead times, and ________.

Industry analysis can give firms an advantage when making decisions. This analysis helps managers determine the nature of the competition, the possible sources of imperfect competition, and the ________.

Consumers affect industry profits indirectly when they exercise power as the last link of an industry value chain.

Supplier power is reduced when firms in a focal industry present a threat of backward integration.

Legal factors must be considered when performing an analysis of a firm's external environment. Common factors include the ease with which regulations can change, the cost of regulatory compliance, and ________.

Firms must be sensitive to environmental factors when relocating to a new area. Some ways that firms express this sensitivity are by participating in all but which of the following activities?

Once a strategy is congruent with PESTEL in a firm's home environment, it will be aligned in new geographic areas.

In the model of industry analysis, the force that may increase profits by increasing demand for an industry's products is ________.

Barriers to entry include all of the following except ________.

How can managers best determine if their industries have globalized or are in the process of globalizing?

What factors tend to increase rivalry?

A subset of firms that compete against each other more intensely than with other firms in the industry are called ________.

Rivalry is the intensity of competition within an industry.

Two trends that resulted in changes to the bottling industry were building large plants to serve multiple markets and beverage producers entering the bottling industry.

The degree to which products of one industry can satisfy the same demand as those of another is called ________.

How does industry analysis affect strategy formulation?

The requisite skills that all firms in an industry must possess in order to be viable competitors are called ________.

Introducing Strategic Management

Leading Strategically Through Effective Vision and Mission

Examining the Internal Environment: Resources

Creating Business Strategies

Crafting Business Strategy of Dynamic Contexts

Developing Corporate Strategy

Looking at International Strategies

Understanding Alliances and Cooperative Strategies

Studying Merges and Acquisitions

Organizational Structure, Systems, and Processes

Considering New Ventures and Corporate Renewal

Corporate Governance in the Twenty-First Century

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