Exam 2: The External and Internal Environments

Complete Office Products recently announced that it was selling off its office furniture division in order to realign itself more competitively in the marketing of its other products,particularly those in its office supplies and technology divisions.Which of the following strategic maneuvers is illustrated in this scenario?

Paolo has been offered jobs at two different retail companies and needs to decide which one to accept.Which of the following can be a useful clue about each organization's culture?

The entrance by a company into another market or industry for which it has an existing expertise is called

According to Michael Porter's model,the competitive environment includes rivalry among current competitors and the impact of new entrants,substitute and complementary products,suppliers,and customers.

Differentiate between unattractive and attractive competitive environments,using Porter's model of the competitive environment.

When investors bid up stock prices,companies have less capital to fuel their strategies.

The attitude and behavior patterns that shape people's experience of an organization is called an organizational

Giving consumers what they want or need,the way they want it,the first time is known as

Which of the following statements about the impact of the stock market is true?

When a brand advertises its products as being superior to that of its competitors,it is demonstrating

Hospitals and universities are very expensive to run,not only due to the capital equipment that is required for each but also due to the personnel,such as specialized medical doctors and researchers.The cost of these types of institutions is an example of

Which of the following is an element of Michael Porter's model for analyzing the competitive environment of an organization?

Wellspring Health and United Coverage are two health insurance companies that have joined forces with one another to lobby against a new regulation that will affect their ability to deny claims.This action is referred to as

In comparison to organizational culture,organizational climate

If many factors prevent new companies from entering an industry,the

Although a top executive team may have unique ________ strengths and ideas about its goals,it must consider ________ factors before taking action.

________ strategies are used by an organization acting on its own to change some aspect of its current environment.

Scenario D.Jimena works for a small company that makes nut butters from ingredients like cashews and macadamia nuts,and jams from mixtures of tropical fruits.She reports to the CFO.It is her job to predict the costs of raw materials for the next five years.She uses various research sources,including the news,to learn who the competitors are and what they have been doing.In fact,she subscribes to an analyst e-newsletter that tells her about crop availability and weather conditions all around the globe.Every month she develops a spreadsheet for her boss indicating the likely costs of fruits and nuts given the type of weather conditions expected in each area of the world and thus the availability of particular crops.She is also involved in a team that is investigating how to cut production costs.They have recently met with Spicy Sides,a company that produces jars of condiments.Spicy Sides is considered the top company in the condiment industry,especially in its knowledge of how to pack food products in jars.Jimena's team is comparing their processes to those of Spicy Sides to see how they might improve. -The spreadsheet that Jimena uses gives her a chance to examine different projections,which is a form of

Which of the following is a barrier to entry?

Scenario A.Marla's Basement is a small retail store that specializes in antique figurines and decorative knickknacks.In analyzing the environment,Marla has uncovered the following interesting findings: 1.Marla has recently purchased more inventory than in the past.The people from whom she buys are selling off more knickknacks because their children are not interested in this type of decorative items and they would prefer to liquidate unnecessary household items to help them with their daily expenses. 2.Marla discovered that her business is in a historical preservation district.As she considers remodeling the shop,she realized that she must pay attention to the guidelines set forth in the governing laws. 3.Marla's buyer-customer base seems to be changing.The tastes of the younger generation near her shop are shifting to modern decor,so the customer base to which she sells is shrinking. 4.Marla has been told that she should consider selling her inventory via the Internet,but she does not own (or understand how to use)a computer. 5.In reading a survey of regional business,Marla discovered that there are no other antique knickknack stores within 200 miles. -In Scenario A,which of the following elements of the macroenvironment was part of Marla's findings?