Question 1

What is the range for a firm's total weighted score in a Competitive Profile Matrix (CPM)?

Accepted Answer

A)  0 to 4
B)  0 to 5
C)  1 to 4
D)  1 to 5
E)  0 to 10 C

Question 2

Erosion of the U.S.manufacturing base is reflected in the sharp increase in labor union membership in the last decade.

Accepted Answer

A) True 
 B)False  False

Question 3

The critical success factors in a Competitive Profile Matrix (CPM)and an External Factor Evaluation (EFE)Matrix include both internal and external issues.

Accepted Answer

A) True 
 B)False  False

Question 4

One difference between a Competitive Profile Matrix (CPM)and an External Factor Evaluation (EFE)is that

Accepted Answer

A)  CPM includes both internal and external issues.
B)  the weights and total weighted scores have different meanings.
C)  CPM ratings range from 1 to 10.
D)  CPM is performed only for the company,whereas EFE is performed for both the company and its competitors.
E)  CPM is only used in small firms.

Question 5

Which of the following is NOT a characteristic that describes the most competitive companies in America?

Accepted Answer

A)  Divestiture is essential to growth.
B)  Hire and retain the best employees and managers possible.
C)  Continually adapt,innovate,improve-especially when the firm is successful.
D)  Strive to stay cost-competitive on a global basis.
E)  Whether it's broke or not,fix it.

Question 6

A total weighted score of 1.0 for an EFE Matrix indicates that the firm is responding in an outstanding way to existing opportunities and threats in its industry.

Accepted Answer

A) True 
 B)False

Question 7

The increase in high tech manufacturing base in the United States is reflected in the sharp increase in labor union membership in the last decade.

Accepted Answer

A) True 
 B)False

Question 8

The United States has been more active than other nations in protectionist measures and has engaged in many "Buy American" policies.

Accepted Answer

A) True 
 B)False

Question 9

Describe the Competitive Profile Matrix (CPM)noting similarities to,and differences from,the External Factor Evaluation (EFE)Matrix.

Accepted Answer

The answer of Describe the Competitive Profile Matrix (CPM)noting similarities...

Question 10

Discuss the following statement: "Planning would be impossible without assumptions."

Accepted Answer

The answer of Discuss the following statement: "Planning would be...

Question 11

Major competitors' strengths may represent key threats.

Accepted Answer

A) True 
 B)False

Question 12

The weights and total weighted scores in both a Competitive Profile Matrix (CPM)and an External Factor Evaluation (EFE)Matrix have the same meaning.

Accepted Answer

A) True 
 B)False

Question 13

Standard & Poor's NetAdvantage does not provide online access to

Accepted Answer

A)  Standard & Poor's Industry Surveys.
B)  Mergent's (formerly Moody's/FISOnline) Manuals.
C)  stock reports.
D)  The Outlook.
E)  mutual fund reports.

Question 14

By 2050,the Census Bureau projects that the number of Americans age 100 and older will dramatically decrease.

Accepted Answer

A) True 
 B)False

Question 15

If suppliers are unreliable or too costly,which of these strategies may be appropriate?

Accepted Answer

A)  Horizontal integration
B)  Backward integration
C)  Market penetration
D)  Forward integration
E)  Concentric diversification

Question 16

Unpublished sources of external strategic information include all of the following EXCEPT

Accepted Answer

A)  abstracts.
B)  customer surveys.
C)  market research.
D)  speeches at professional and shareholders' meetings.
E)  conversations with stakeholders.

Question 17

The process of performing an external audit should involve

Accepted Answer

A)  key representatives from each stakeholder group.
B)  as many stakeholders as possible.
C)  only strategists.
D)  primarily strategists.
E)  as many managers and employees as possible.

Question 18

Many economists say the current rash of trade constraints will make it ________ for global economic growth.

Accepted Answer

A)  easier
B)  impossible
C)  harder
D)  more likely
E)  less time-consuming

Question 19

Explain how new technologies have been impacting strategic-planning decisions.

Accepted Answer

The answer of Explain how new technologies have been impacting...

Question 20

It is predicted that,by 2050,over 20 percent of the population in the United States will be 65 years or older.

Accepted Answer

A) True 
 B)False

Exam 7: The External Audit

What is the range for a firm's total weighted score in a Competitive Profile Matrix (CPM) ?

Erosion of the U.S.manufacturing base is reflected in the sharp increase in labor union membership in the last decade.

The critical success factors in a Competitive Profile Matrix (CPM)and an External Factor Evaluation (EFE)Matrix include both internal and external issues.

One difference between a Competitive Profile Matrix (CPM) and an External Factor Evaluation (EFE) is that

Which of the following is NOT a characteristic that describes the most competitive companies in America?

A total weighted score of 1.0 for an EFE Matrix indicates that the firm is responding in an outstanding way to existing opportunities and threats in its industry.

The increase in high tech manufacturing base in the United States is reflected in the sharp increase in labor union membership in the last decade.

The United States has been more active than other nations in protectionist measures and has engaged in many "Buy American" policies.

Describe the Competitive Profile Matrix (CPM)noting similarities to,and differences from,the External Factor Evaluation (EFE)Matrix.

Discuss the following statement: "Planning would be impossible without assumptions."

Major competitors' strengths may represent key threats.

The weights and total weighted scores in both a Competitive Profile Matrix (CPM)and an External Factor Evaluation (EFE)Matrix have the same meaning.

Standard & Poor's NetAdvantage does not provide online access to

By 2050,the Census Bureau projects that the number of Americans age 100 and older will dramatically decrease.

If suppliers are unreliable or too costly,which of these strategies may be appropriate?

Unpublished sources of external strategic information include all of the following EXCEPT

The process of performing an external audit should involve

Many economists say the current rash of trade constraints will make it ________ for global economic growth.

Explain how new technologies have been impacting strategic-planning decisions.

It is predicted that,by 2050,over 20 percent of the population in the United States will be 65 years or older.