Question 1

Strategic groups are clusters of firms that share ________ strategies.

Accepted Answer

A)  differing
B)  the same
C)  similar
D)  newE) B) and D)
F) None of the above

Question 2

Scenario analysis is a superficial approach to forecasting that seeks to explore possible developments that many only be connected to the past.

Accepted Answer

A) True 
 B)False

Question 3

Executives must be careful to avoid spending so much time and effort tracking the actions of ________ that they ignore ________.

Accepted Answer

A)  competitors;customers
B)  customers;competitors
C)  traditional competitors;new competitors
D)  existing customers;existing competitorsE) A) and B)
F) None of the above

Question 4

The aging of the population,changes in ethnic composition,and effects of the millennial generation are ________ changes.

Accepted Answer

A)  macroeconomic
B)  global
C)  sociocultural
D)  demographicE) B) and C)
F) A) and B)

Question 5

Environmental monitoring deals with tracking changes in environmental trends that are often uncovered during the environmental scanning process.

Accepted Answer

A) True 
 B)False  True

Question 6

In some industries,low switching costs can act as an important barrier to entry.

Accepted Answer

A) True 
 B)False

Question 7

In general,the threat of substitutes is heightened because the Internet

Accepted Answer

A)  lowers switching costs.
B)  lowers barriers to entry.
C)  introduces new ways to accomplish the same task.
D)  increases output per unit of cost.E) A) and D)
F) None of the above C

Question 8

The Porter five-forces model is designed to help us understand how social attitudes and cultural values impact U.S.businesses.

Accepted Answer

A) True 
 B)False

Question 9

In the value net analysis,complementors are

Accepted Answer

A)  firms that produce substitute products.
B)  firms that produce products that have a positive impact on company product value.
C)  customers who compliment the company for their good products and services.
D)  firms that supply critical inputs to a company.E) A) and D)
F) B) and C)

Question 10

Boards of directors use outsiders to critique their strategy.This is necessary mostly to improve

Accepted Answer

A)  financial returns.
B)  organizational hierarchy.
C)  perceptual acuity.
D)  employee relations.E) B) and C)
F) A) and D)

Question 11

The bargaining power of the buyer is greater than that of the supplier when

Accepted Answer

A)  volume of purchase is low.
B)  the buyer profit margin is low.
C)  cost savings from the supplier's product are minimal.
D)  threat of backward integration by buyers is low.E) B) and C)
F) All of the above

Question 12

Airbnb,a room-sharing site,offers more rooms than Marriott.Goldman Sachs suggests that the supply of new rooms over the next two years will outpace the previous five even though the growth of American occupancy rates has begun to slow.Which competitive force is involved in this situation?

Accepted Answer

A)  the threat of favorable government policies
B)  the threat of new buyers
C)  the threat of new entrants
D)  the threat of proprietary productsE) A) and B)
F) B) and D)

Question 13

What is the difference between the demographic segment and the sociocultural segment in the list of general environment factors that impact the strategy and performance of a firm? Provide specific examples to support your discussion.

Accepted Answer

The demographic segment and the sociocul...

Question 14

Environmental forecasting does not involve plausible projections about the ________ of environmental change.

Accepted Answer

A)  direction
B)  scope
C)  speed
D)  lack of intensityE) A) and C)
F) A) and D)

Question 15

Which of the following statements about strategic groups is false?

Accepted Answer

A)  Two assumptions are made: (1) no two firms are totally different,and (2) no two firms are exactly the same.
B)  Strategic groupings are of little help to a firm in assessing mobility barriers that protect a group from attacks by other groups.
C)  Strategic groups help chart the future directions of firm strategies.
D)  Strategic groups are helpful in thinking through the implications of each industry trend for the group as a whole.E) None of the above
F) A) and B)

Question 16

Corporate retreats do not

Accepted Answer

A)  permit companies to discuss larger marketplace trends.
B)  guarantee positive consumer response to new products.
C)  give companies an opportunity to look beyond their own industries.
D)  oblige management to automatically change strategy.E) A) and B)
F) A) and C)

Question 17

Competitive intelligence generally does not benefit very much from gathering information on competitors from sources in the public domain.

Accepted Answer

A) True 
 B)False

Question 18

A danger of forecasting discussed in the text is that

Accepted Answer

A)  in most cases,the expense of collecting the necessary data exceeds the benefit.
B)  the retrospective nature of forecasting provides little information about the future.
C)  it can create legal problems for the firm if regulators discover the company is making forecasts.
D)  managers may view uncertainty as black and white while ignoring important gray areas.E) B) and C)
F) All of the above

Question 19

The threat of new entrants is high when there are

Accepted Answer

A)  high capital requirements.
B)  low economies of scale.
C)  high switching costs.
D)  high differentiation among competitor products and services.E) A) and B)
F) A) and C) B

Question 20

In 2014,Audi introduced the Q3 SUV at a base price of only $32,500.And BMW,with its 1-series,is another well-known example.Such cars,priced in the low $30,000s,compete more directly with products from broad-line manufacturers like Ford,General Motors,and Toyota.This suggests that members of a strategic group can overcome ________ barriers and migrate to other groups that they find attractive if they are willing to commit time and resources.

Accepted Answer

A)  mobility
B)  competitive
C)  pricing
D)  costE) A) and B)
F) B) and C)

Exam 2: Analyzing the External Environment of the Firm: Creating Competitive Advantages

Strategic groups are clusters of firms that share ________ strategies.

Correct Answer
verified

Scenario analysis is a superficial approach to forecasting that seeks to explore possible developments that many only be connected to the past.

Correct Answer
verified

Executives must be careful to avoid spending so much time and effort tracking the actions of that they ignore .

Correct Answer
verified

The aging of the population,changes in ethnic composition,and effects of the millennial generation are ________ changes.

Correct Answer
verified

Environmental monitoring deals with tracking changes in environmental trends that are often uncovered during the environmental scanning process.

Correct Answer
verified
True

In some industries,low switching costs can act as an important barrier to entry.

Correct Answer
verified

In general,the threat of substitutes is heightened because the Internet

Correct Answer
verified
C

The Porter five-forces model is designed to help us understand how social attitudes and cultural values impact U.S.businesses.

Correct Answer
verified

In the value net analysis,complementors are

Correct Answer
verified

Boards of directors use outsiders to critique their strategy.This is necessary mostly to improve

Correct Answer
verified

The bargaining power of the buyer is greater than that of the supplier when

Correct Answer
verified

Airbnb,a room-sharing site,offers more rooms than Marriott.Goldman Sachs suggests that the supply of new rooms over the next two years will outpace the previous five even though the growth of American occupancy rates has begun to slow.Which competitive force is involved in this situation?

Correct Answer
verified

What is the difference between the demographic segment and the sociocultural segment in the list of general environment factors that impact the strategy and performance of a firm? Provide specific examples to support your discussion.

Correct Answer
Answered by ExamLex AI
The demographic segment and the sociocul...
View Answer

Environmental forecasting does not involve plausible projections about the ________ of environmental change.

Correct Answer
verified

Which of the following statements about strategic groups is false?

Correct Answer
verified

Corporate retreats do not

Correct Answer
verified

Competitive intelligence generally does not benefit very much from gathering information on competitors from sources in the public domain.

Correct Answer
verified

A danger of forecasting discussed in the text is that

Correct Answer
verified

The threat of new entrants is high when there are

Correct Answer
verified
B

Correct Answer
verified

Exam 2: Analyzing the External Environment of the Firm: Creating Competitive Advantages

Strategic groups are clusters of firms that share ________ strategies.

Correct AnswerverifiedShow Answer

Scenario analysis is a superficial approach to forecasting that seeks to explore possible developments that many only be connected to the past.

Correct AnswerverifiedShow Answer

Executives must be careful to avoid spending so much time and effort tracking the actions of ________ that they ignore ________.

Correct AnswerverifiedShow Answer

The aging of the population,changes in ethnic composition,and effects of the millennial generation are ________ changes.

Correct AnswerverifiedShow Answer

Environmental monitoring deals with tracking changes in environmental trends that are often uncovered during the environmental scanning process.

Correct AnswerverifiedTrue

In some industries,low switching costs can act as an important barrier to entry.

Correct AnswerverifiedShow Answer

In general,the threat of substitutes is heightened because the Internet

Correct AnswerverifiedC

The Porter five-forces model is designed to help us understand how social attitudes and cultural values impact U.S.businesses.

Correct AnswerverifiedShow Answer

In the value net analysis,complementors are

Correct AnswerverifiedShow Answer

Boards of directors use outsiders to critique their strategy.This is necessary mostly to improve

Correct AnswerverifiedShow Answer

The bargaining power of the buyer is greater than that of the supplier when

Correct AnswerverifiedShow Answer

Airbnb,a room-sharing site,offers more rooms than Marriott.Goldman Sachs suggests that the supply of new rooms over the next two years will outpace the previous five even though the growth of American occupancy rates has begun to slow.Which competitive force is involved in this situation?

Correct AnswerverifiedShow Answer

What is the difference between the demographic segment and the sociocultural segment in the list of general environment factors that impact the strategy and performance of a firm? Provide specific examples to support your discussion.

Correct AnswerAnswered by ExamLex AIThe demographic segment and the sociocul...View AnswerShow Answer

Environmental forecasting does not involve plausible projections about the ________ of environmental change.

Correct AnswerverifiedShow Answer

Which of the following statements about strategic groups is false?

Correct AnswerverifiedShow Answer

Corporate retreats do not

Correct AnswerverifiedShow Answer

Competitive intelligence generally does not benefit very much from gathering information on competitors from sources in the public domain.

Correct AnswerverifiedShow Answer

A danger of forecasting discussed in the text is that

Correct AnswerverifiedShow Answer

The threat of new entrants is high when there are

Correct AnswerverifiedB

Correct AnswerverifiedShow Answer

Correct Answer
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Correct Answer
verified

Executives must be careful to avoid spending so much time and effort tracking the actions of that they ignore .

Correct Answer
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Correct Answer
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Correct Answer
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True

Correct Answer
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Correct Answer
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C

Correct Answer
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Correct Answer
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Correct Answer
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Correct Answer
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Correct Answer
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Correct Answer
Answered by ExamLex AI
The demographic segment and the sociocul...
View Answer

Correct Answer
verified

Correct Answer
verified

Correct Answer
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Correct Answer
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Correct Answer
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Correct Answer
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B

Correct Answer
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