Question 1

The broad environment consists of all of the following except:

Accepted Answer

A) Technological trends 
B) Political and legal forces 
C) Competitors 
D) Economic forces 
E) Sociocultural forces 
A) Technological trends 
B) Political and legal forces 
C) Competitors 
D) Economic forces 
E) Sociocultural forces C

Question 2

Suppliers tend to exhibit greater power if:

Accepted Answer

A) There are few suppliers of the raw material,product,or service 
B) There are many substitutes for the product or service that suppliers sell 
C) Suppliers are small businesses with regards to total sales volume 
D) The suppliers' products are undifferentiated and plentiful 
E) Suppliers cannot integrate forward 
A) There are few suppliers of the raw material,product,or service 
B) There are many substitutes for the product or service that suppliers sell 
C) Suppliers are small businesses with regards to total sales volume 
D) The suppliers' products are undifferentiated and plentiful 
E) Suppliers cannot integrate forward A

Question 3

The broad environment consists of sociocultural forces,competitive forces,technological trends,and political/legal forces.

Accepted Answer

A) True 
 B)False  False

Question 4

According to Michael Porter,what are the conditions that create advantages for firms in certain countries and industries? Please explain each of them.

Accepted Answer

(1)Factor conditions.These are endowment

Question 5

According to Michael Porter,all of the following are conditions that create advantages for firms in certain countries and industries except:

Accepted Answer

A) Suppliers to a particular industry are the very best in the world 
B) Strong industry competition 
C) Buyers are among the most demanding in the world 
D) Shortages of critical raw materials or other supplies 
E) Ability to attract the most talented managers 
A) Suppliers to a particular industry are the very best in the world 
B) Strong industry competition 
C) Buyers are among the most demanding in the world 
D) Shortages of critical raw materials or other supplies 
E) Ability to attract the most talented managers

Question 6

Government intervention in business is increasing worldwide.

Accepted Answer

A) True 
 B)False

Question 7

When two or more firms form a legally independent company to pursue common objectives,in is called:

Accepted Answer

A) A semiautonomous partnership 
B) A social network 
C) An equity alliance 
D) A business network 
E) None of these 
A) A semiautonomous partnership 
B) A social network 
C) An equity alliance 
D) A business network 
E) None of these

Question 8

Which of the following makes an industry more attractive to enter?

Accepted Answer

A) Strong supplier power 
B) Strong customer power 
C) No close substitutes 
D) Many strong competitors 
E) Low sales growth 
A) Strong supplier power 
B) Strong customer power 
C) No close substitutes 
D) Many strong competitors 
E) Low sales growth

Question 9

All of the following are true about environmental uncertainty except:

Accepted Answer

A) It makes managerial decision making more difficult 
B) Organizations feel most of its influence directly from the broad environment 
C) Political power of stakeholders influences it 
D) Economic power of stakeholders influences it 
E) Network centrality of stakeholders influences it 
A) It makes managerial decision making more difficult 
B) Organizations feel most of its influence directly from the broad environment 
C) Political power of stakeholders influences it 
D) Economic power of stakeholders influences it 
E) Network centrality of stakeholders influences it

Question 10

Discriminating and demanding buyers in the home country of a firm can help the firm to succeed as it competes in foreign markets.

Accepted Answer

A) True 
 B)False

Question 11

The power of a single customer is greater when there are many customers than when there are few.

Accepted Answer

A) True 
 B)False

Question 12

Customers tend to exhibit a powerful force on competition in the industry if:

Accepted Answer

A) There are a large number of customers that buy the product 
B) Few similar products exist 
C) Purchases customers make from the industry are large relative to the amount spent for items from other industries 
D) The sellers' products are highly differentiated 
E) The customers are earning high profits 
A) There are a large number of customers that buy the product 
B) Few similar products exist 
C) Purchases customers make from the industry are large relative to the amount spent for items from other industries 
D) The sellers' products are highly differentiated 
E) The customers are earning high profits

Question 13

Awareness of and compliance with the attitudes of society can help an organization avoid problems associated with a bad ethical reputation.

Accepted Answer

A) True 
 B)False

Question 14

Low levels of competition may be caused by high fixed costs.

Accepted Answer

A) True 
 B)False

Question 15

A strategic group map involves plotting industry rivals based on two or more strategic dimensions that are important to the industry.

Accepted Answer

A) True 
 B)False

Question 16

Why is analysis of social trends important? Give examples.

Accepted Answer

First,the values and beliefs of key stak

Question 17

Analysis of social trends is important because:

Accepted Answer

A) The values and beliefs of key stakeholders are derived from societal influences 
B) Correct assessment of social trends can help businesses avoid restrictive legislation 
C) Changes in society can create either opportunities or threats for organizations 
D) All of these are correct 
E) Only A and C are correct 
A) The values and beliefs of key stakeholders are derived from societal influences 
B) Correct assessment of social trends can help businesses avoid restrictive legislation 
C) Changes in society can create either opportunities or threats for organizations 
D) All of these are correct 
E) Only A and C are correct

Question 18

Which of the following is part of the broad environment?

Accepted Answer

A) Competitors 
B) Suppliers 
C) Technological forces 
D) Government agencies 
E) Unions 
A) Competitors 
B) Suppliers 
C) Technological forces 
D) Government agencies 
E) Unions

Question 19

What are strategic groups? Why are strategic group maps useful?

Accepted Answer

Strategic groups consist of firms that e

Question 20

What is a primary reason that an organization should monitor the broad environment?

Accepted Answer

A) To anticipate concerns and trends 
B) To determine the firm's internal strengths 
C) To determine the firm's internal weaknesses 
D) To identify key employees within the firm 
E) To determine the firm's focus on manufacturing and materials management 
A) To anticipate concerns and trends 
B) To determine the firm's internal strengths 
C) To determine the firm's internal weaknesses 
D) To identify key employees within the firm 
E) To determine the firm's focus on manufacturing and materials management

The broad environment consists of all of the following except:

Suppliers tend to exhibit greater power if:

The broad environment consists of sociocultural forces,competitive forces,technological trends,and political/legal forces.

According to Michael Porter,what are the conditions that create advantages for firms in certain countries and industries? Please explain each of them.

According to Michael Porter,all of the following are conditions that create advantages for firms in certain countries and industries except:

Government intervention in business is increasing worldwide.

When two or more firms form a legally independent company to pursue common objectives,in is called:

Which of the following makes an industry more attractive to enter?

All of the following are true about environmental uncertainty except:

Discriminating and demanding buyers in the home country of a firm can help the firm to succeed as it competes in foreign markets.

The power of a single customer is greater when there are many customers than when there are few.

Customers tend to exhibit a powerful force on competition in the industry if:

Awareness of and compliance with the attitudes of society can help an organization avoid problems associated with a bad ethical reputation.

Low levels of competition may be caused by high fixed costs.

A strategic group map involves plotting industry rivals based on two or more strategic dimensions that are important to the industry.

Why is analysis of social trends important? Give examples.

Analysis of social trends is important because:

Which of the following is part of the broad environment?

What are strategic groups? Why are strategic group maps useful?

What is a primary reason that an organization should monitor the broad environment?

The Strategic Management Process

Organizational Resources and Competitive Advantage

Strategic Leadership and Strategic Direction

Business-Level Strategies

Corporate Strategies

Strategy Implementation

Strategic Control and Restructuring

Filters

Exam 2: The External Environment

The broad environment consists of all of the following except:

Suppliers tend to exhibit greater power if:

The broad environment consists of sociocultural forces,competitive forces,technological trends,and political/legal forces.

According to Michael Porter,what are the conditions that create advantages for firms in certain countries and industries? Please explain each of them.

According to Michael Porter,all of the following are conditions that create advantages for firms in certain countries and industries except:

Government intervention in business is increasing worldwide.

When two or more firms form a legally independent company to pursue common objectives,in is called:

Which of the following makes an industry more attractive to enter?

All of the following are true about environmental uncertainty except:

Discriminating and demanding buyers in the home country of a firm can help the firm to succeed as it competes in foreign markets.

The power of a single customer is greater when there are many customers than when there are few.

Customers tend to exhibit a powerful force on competition in the industry if:

Awareness of and compliance with the attitudes of society can help an organization avoid problems associated with a bad ethical reputation.

Low levels of competition may be caused by high fixed costs.

A strategic group map involves plotting industry rivals based on two or more strategic dimensions that are important to the industry.

Why is analysis of social trends important? Give examples.

Analysis of social trends is important because:

Which of the following is part of the broad environment?

What are strategic groups? Why are strategic group maps useful?

What is a primary reason that an organization should monitor the broad environment?

The Strategic Management Process

Organizational Resources and Competitive Advantage

Strategic Leadership and Strategic Direction

Business-Level Strategies

Corporate Strategies

Strategy Implementation

Strategic Control and Restructuring

Filters