Question 1

Discuss the process of performing an external audit.

Accepted Answer

The answer of Discuss the process of performing an external...

Question 2

Market commonality can be defined as

Accepted Answer

A)  the number and significance of markets that a firm competes in with rivals. 
B)  the number and significance of points in common a firm has with its rivals. 
C)  the extent to which the type of a firm's internal resources are comparable to a rival. 
D)  the extent to which the amount of a firm's internal resources are comparable to a rival. 
E)  none of the above

Question 3

What effect do trends in the dollar's value have on companies in different industries and in different locations?

Accepted Answer

A)  Significant and equal 
B)  Marginal and equal 
C)  Significant and unequal 
D)  Insignificant and unequal 
E)  No significant impact

Question 4

In general, what happens to American goods in overseas markets when there is a strong dollar?

Accepted Answer

A)  They are less expensive. 
B)  They are more attractive. 
C)  They are cheaper. 
D)  They are more expensive. 
E)  They are desirable.

Question 5

To perform an external audit, a company first must gather competitive intelligence and information about social, cultural, demographic, environmental, economic, political, legal, governmental, and technological trends.

Accepted Answer

A) True 
 B)False

Question 6

The world population is expected to grow to an estimated ________ billion in 2054.

Accepted Answer

A)  6 
B)  7 
C)  8 
D)  9 
E)  10

Question 7

Regardless of the number of key opportunities and threats included in an External Factor Evaluation Matrix, the highest possible total weighted score for an organization is 4.0, and the lowest possible total weighted score is 0.0.

Accepted Answer

A) True 
 B)False

Question 8

The bargaining power of consumers can be the most important force impacting competitive advantage.

Accepted Answer

A) True 
 B)False

Question 9

To perform an external audit, a company first must

Accepted Answer

A)  get an approval from the Securities and Exchange Commission. 
B)  perform an internal audit. 
C)  gather competitive intelligence and information about external trends. 
D)  hire a consultant to develop a comprehensive strategic plan. 
E)  all of the above

Question 10

List five steps that comprise an effective framework for conducting an EFE Matrix. Explain the details involved in performing any one of the steps.

Accepted Answer

The answer of List five steps that comprise an effective...

Question 11

Remaining solely domestic is an increasingly safer strategy for U.S. companies.

Accepted Answer

A) True 
 B)False

Question 12

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

Accepted Answer

A)  easier 
B)  impossible 
C)  harder 
D)  more likely 
E)  less difficult

Question 13

Political, governmental, and legal factors can represent key threats or opportunities for both small and large organizations.

Accepted Answer

A) True 
 B)False

Question 14

Internal opportunities can be represented by major competitors' weaknesses.

Accepted Answer

A) True 
 B)False

Question 15

Without reasonable assumptions, the strategy-formulation process could not proceed effectively.

Accepted Answer

A) True 
 B)False

Question 16

By 2075, the United States will have no racial or ethnic majority.

Accepted Answer

A) True 
 B)False

Question 17

While forecasts might not be perfect, they are never wildly inaccurate.

Accepted Answer

A) True 
 B)False

Question 18

The responsibilities of a director of competitive analysis include all of the following EXCEPT

Accepted Answer

A)  researching special issues 
B)  disseminating information on a timely basis 
C)  recognizing what information is important and who needs to know 
D)  conducting corporate espionage 
E)  analyzing data

Question 19

In the United States, the population has been moving from the South and West to the Northeast and Midwest.

Accepted Answer

A) True 
 B)False

Question 20

Japan's elderly population ratio is _______ percent.

Accepted Answer

A)  13 
B)  17 
C)  19 
D)  22 
E)  65

Exam 3: The External Assessment

Discuss the process of performing an external audit.

Market commonality can be defined as

What effect do trends in the dollar's value have on companies in different industries and in different locations?

In general, what happens to American goods in overseas markets when there is a strong dollar?

To perform an external audit, a company first must gather competitive intelligence and information about social, cultural, demographic, environmental, economic, political, legal, governmental, and technological trends.

The world population is expected to grow to an estimated ________ billion in 2054.

Regardless of the number of key opportunities and threats included in an External Factor Evaluation Matrix, the highest possible total weighted score for an organization is 4.0, and the lowest possible total weighted score is 0.0.

The bargaining power of consumers can be the most important force impacting competitive advantage.

To perform an external audit, a company first must

List five steps that comprise an effective framework for conducting an EFE Matrix. Explain the details involved in performing any one of the steps.

Remaining solely domestic is an increasingly safer strategy for U.S. companies.

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

Political, governmental, and legal factors can represent key threats or opportunities for both small and large organizations.

Internal opportunities can be represented by major competitors' weaknesses.

Without reasonable assumptions, the strategy-formulation process could not proceed effectively.

By 2075, the United States will have no racial or ethnic majority.

While forecasts might not be perfect, they are never wildly inaccurate.

The responsibilities of a director of competitive analysis include all of the following EXCEPT

In the United States, the population has been moving from the South and West to the Northeast and Midwest.

Japan's elderly population ratio is _______ percent.