Question 1

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

Accepted Answer

A) True 
 B)False

Question 2

Examples of complementors can include all but which of the following?

Accepted Answer

A)  music and electronics industries 
B)  food and wine industries 
C)  clothing and footwear industries 
D)  baseball and football industries 
A)  music and electronics industries 
B)  food and wine industries 
C)  clothing and footwear industries 
D)  baseball and football industries

Question 3

Bargaining leverage, price sensitivity, and threat of backward integration are some of the elements influencing the five-forces factor of ________.

Accepted Answer

A)  the threat of new entrants 
B)  supplier power 
C)  buyer power 
D)  the threat of substitutes 
A)  the threat of new entrants 
B)  supplier power 
C)  buyer power 
D)  the threat of substitutes

Question 4

Coke and Pepsi have spent billions of dollars to build brand equity and customer loyalty as a result of their products being so similar. These firms do not motivate buyer loyalty with ________.

Accepted Answer

A)  aggressive pricing 
B)  creative television commercials 
C)  appeals to a desire for youth 
D)  negative ad campaigns 
A)  aggressive pricing 
B)  creative television commercials 
C)  appeals to a desire for youth 
D)  negative ad campaigns

Question 5

Two frameworks that managers find useful in gaining an understanding of their competitors are competitor analysis and ________.

Accepted Answer

A)  PESTEL analysis 
B)  stakeholder analysis 
C)  I/O analysis 
D)  strategic-group analysis 
A)  PESTEL analysis 
B)  stakeholder analysis 
C)  I/O analysis 
D)  strategic-group analysis

Question 6

Use the five-forces model to analyze the airline industry.

Accepted Answer

Let's apply the five-forces model to the

Question 7

A strategic group is a subset of firms that have similar strategies and capabilities.

Accepted Answer

A) True 
 B)False

Question 8

A buyer group's power is directly impacted by its prestige and the size of its orders.

Accepted Answer

A) True 
 B)False

Question 9

Complementors are an increasingly critical industry force that has been added to the five-forces model.

Accepted Answer

A) True 
 B)False

Question 10

Sociocultural factors include all but which of the following?

Accepted Answer

A)  availability of labor 
B)  consumerism 
C)  shifting demographics 
D)  dominant religions 
A)  availability of labor 
B)  consumerism 
C)  shifting demographics 
D)  dominant religions

Question 11

Key success factors are firm-specific and nontransferable.

Accepted Answer

A) True 
 B)False

Question 12

Supplier power is influenced by exit barriers, industry growth, and industry concentration.

Accepted Answer

A) True 
 B)False

Question 13

When analyzing heterogeneous markets, it is best to be extremely inclusive.

Accepted Answer

A) True 
 B)False

Question 14

Buyers may have more bargaining power when ________.

Accepted Answer

A)  products are standardized 
B)  there is a threat of forward integration 
C)  there are high switching costs 
D)  there are few sellers 
A)  products are standardized 
B)  there is a threat of forward integration 
C)  there are high switching costs 
D)  there are few sellers

Question 15

The two major forms of technology are process technology and ________.

Accepted Answer

A)  product technology 
B)  dynamic technology 
C)  market technology 
D)  progressive technology 
A)  product technology 
B)  dynamic technology 
C)  market technology 
D)  progressive technology

Question 16

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 ________.

Accepted Answer

A)  hierarchy of the firm's management system 
B)  possibility of the firm's earning above-normal returns 
C)  industries that would be compatible with the firm 
D)  number of firms in other industries 
A)  hierarchy of the firm's management system 
B)  possibility of the firm's earning above-normal returns 
C)  industries that would be compatible with the firm 
D)  number of firms in other industries

Question 17

How does globalization impact a firm's strategy?

Accepted Answer

Globalization entails much more than a c

Question 18

As price competition increases, average prices increase as well, resulting in higher levels of profitability.

Accepted Answer

A) True 
 B)False

Question 19

Heterogeneous products and barriers that make entry into an industry difficult are characteristics of imperfect competition.

Accepted Answer

A) True 
 B)False

Question 20

In a truly global industry, competitive strategies are integrated in different international markets.

Accepted Answer

A) True 
 B)False

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

Examples of complementors can include all but which of the following?

Bargaining leverage, price sensitivity, and threat of backward integration are some of the elements influencing the five-forces factor of ________.

Coke and Pepsi have spent billions of dollars to build brand equity and customer loyalty as a result of their products being so similar. These firms do not motivate buyer loyalty with ________.

Two frameworks that managers find useful in gaining an understanding of their competitors are competitor analysis and ________.

Use the five-forces model to analyze the airline industry.

A strategic group is a subset of firms that have similar strategies and capabilities.

A buyer group's power is directly impacted by its prestige and the size of its orders.

Complementors are an increasingly critical industry force that has been added to the five-forces model.

Sociocultural factors include all but which of the following?

Key success factors are firm-specific and nontransferable.

Supplier power is influenced by exit barriers, industry growth, and industry concentration.

When analyzing heterogeneous markets, it is best to be extremely inclusive.

Buyers may have more bargaining power when ________.

The two major forms of technology are process technology 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 ________.

How does globalization impact a firm's strategy?

As price competition increases, average prices increase as well, resulting in higher levels of profitability.

Heterogeneous products and barriers that make entry into an industry difficult are characteristics of imperfect competition.

In a truly global industry, competitive strategies are integrated in different international markets.

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

Filters

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

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

Examples of complementors can include all but which of the following?

Bargaining leverage, price sensitivity, and threat of backward integration are some of the elements influencing the five-forces factor of ________.

Coke and Pepsi have spent billions of dollars to build brand equity and customer loyalty as a result of their products being so similar. These firms do not motivate buyer loyalty with ________.

Two frameworks that managers find useful in gaining an understanding of their competitors are competitor analysis and ________.

Use the five-forces model to analyze the airline industry.

A strategic group is a subset of firms that have similar strategies and capabilities.

A buyer group's power is directly impacted by its prestige and the size of its orders.

Complementors are an increasingly critical industry force that has been added to the five-forces model.

Sociocultural factors include all but which of the following?

Key success factors are firm-specific and nontransferable.

Supplier power is influenced by exit barriers, industry growth, and industry concentration.

When analyzing heterogeneous markets, it is best to be extremely inclusive.

Buyers may have more bargaining power when ________.

The two major forms of technology are process technology 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 ________.

How does globalization impact a firm's strategy?

As price competition increases, average prices increase as well, resulting in higher levels of profitability.

Heterogeneous products and barriers that make entry into an industry difficult are characteristics of imperfect competition.

In a truly global industry, competitive strategies are integrated in different international markets.

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

Filters