Question 1

Professor Tamara Erickson says that members of different generations bring different experiences,assumptions,and benefits to the workforce.She believes companies can gain a great deal from creating a culture that welcomes workers of all ages and in which leaders address biases.This is an example of which segments of the general environment?

Accepted Answer

A)   economic
B)   demographic
C)   sociocultural
D)   political and legalE) All of the above
F) A) and B)

Question 2

The strategic groups concept is valuable for charting the ________ directions of firm strategies.

Accepted Answer

A)   historical
B)   past
C)   present
D)   futureE) A) and C)
F) A) and D)

Question 3

Complements are products or services that have a potential impact on the ________ of the products or services of that company.

Accepted Answer

A)   cost
B)   availability
C)   value
D)   substitutabilityE) A) and B)
F) A) and C)

Question 4

There are many challenges to complying with the Dodd-Frank Wall Street Reform and Consumer Protection Act to the tracking of materials from more than two million small scale or subsistence miners in the Eastern Congo.Modern supply-chain logistics are not very relevant in these environments.This is an example of which segment of the general environment?

Accepted Answer

A)   economic
B)   demographic
C)   sociocultural
D)   political and legalE) B) and C)
F) B) and D)

Question 5

The bargaining power of suppliers increases as

Accepted Answer

A)   threat of forward integration by suppliers increases.
B)   importance of buyers to supplier group increases.
C)   switching costs for buyers decrease.
D)   more suppliers enter the market.E) None of the above
F) B) and C)

Question 6

Technological innovations can create entirely new industries and alter the boundaries of industries.

Accepted Answer

A) True 
 B)False

Question 7

Scanning the general environment would identify information on

Accepted Answer

A)   substitute goods.
B)   customer and firm bargaining power.
C)   the aging population and ethnic shifts.
D)   competitive rivalry.E) B) and C)
F) A) and C)

Question 8

Even with all the advances in recent years,forecasting is typically considered more of an art than a science and it is of little use in generating accurate predictions.

Accepted Answer

A) True 
 B)False

Question 9

Ted Turner saw the potential of 24-hour news before anyone else.This is an example of perceptual acuity.

Accepted Answer

A) True 
 B)False

Question 10

The Internet and digital technologies suppress the bargaining power of buyers by providing them with more information to make buying decisions.

Accepted Answer

A) True 
 B)False

Question 11

The strategic groups concept is valuable for identifying groups with ________ competitive positions.

Accepted Answer

A)   marginal
B)   exceptional
C)   healthy
D)   poorE) C) and D)
F) B) and D)

Question 12

Two of the key inputs to developing forecasts discussed in the text are

Accepted Answer

A)   environmental scanning and stakeholder identification.
B)   assessing internal strengths and environmental scanning.
C)   environmental scanning and competitive intelligence.
D)   environmental scanning and a SWOT analysis.E) A) and C)
F) A) and B)

Question 13

Incumbent firms may enjoy increased bargaining power because the Internet

Accepted Answer

A)   focuses marketing efforts on end users.
B)   has reduced the number of wholesalers and distributors.
C)   increases channel conflict.
D)   diminishes the power of many distribution channel intermediaries.E) B) and D)
F) A) and D)

Question 14

Which of the following would be an entry barrier?

Accepted Answer

A)   easy access to raw materials
B)   low switching costs
C)   large economies of scale
D)   low capital requirementsE) B) and D)
F) A) and B)

Question 15

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) B) and C)
F) A) and C)

Question 16

In the general environment,which of the following is not a demographic trend?

Accepted Answer

A)   aging population
B)   greater disparities in income levels
C)   changes in ethnic composition
D)   more women in the workforceE) A) and D)
F) A) and C)

Question 17

Perceptual acuity,according to Ram Charan,is the ability to know for certain what will happen in the future.

Accepted Answer

A) True 
 B)False

Question 18

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

Accepted Answer

A) True 
 B)False

Question 19

All of the following are important elements of the political and legal segment of the general environment except

Accepted Answer

A)   the deregulation of utilities.
B)   the increased use of Internet technology.
C)   the Americans with Disabilities Act (AD
A)  .
D)   increases in the federally mandated minimum wage.E) B) and D)
F) None of the above

Question 20

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 B)

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

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

Correct Answer
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Correct Answer
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Which of the following would be an entry barrier?

Correct Answer
verified

Incumbent firms may enjoy increased bargaining power because the Internet

Correct Answer
verified

Scanning the general environment would identify information on

Correct Answer
verified

The strategic groups concept is valuable for charting the ________ directions of firm strategies.

Correct Answer
verified

The Internet and digital technologies suppress the bargaining power of buyers by providing them with more information to make buying decisions.

Correct Answer
verified

All of the following are important elements of the political and legal segment of the general environment except

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

Complements are products or services that have a potential impact on the ________ of the products or services of that company.

Correct Answer
verified

Even with all the advances in recent years,forecasting is typically considered more of an art than a science and it is of little use in generating accurate predictions.

Correct Answer
verified

Two of the key inputs to developing forecasts discussed in the text are

Correct Answer
verified

Correct Answer
verified

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

Correct Answer
verified

Ted Turner saw the potential of 24-hour news before anyone else.This is an example of perceptual acuity.

Correct Answer
verified

The strategic groups concept is valuable for identifying groups with ________ competitive positions.

Correct Answer
verified

In the general environment,which of the following is not a demographic trend?

Correct Answer
verified

Technological innovations can create entirely new industries and alter the boundaries of industries.

Correct Answer
verified

The bargaining power of suppliers increases as

Correct Answer
verified

Perceptual acuity,according to Ram Charan,is the ability to know for certain what will happen in the future.

Correct Answer
verified

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

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

Correct AnswerverifiedShow Answer

Correct AnswerverifiedShow Answer

Which of the following would be an entry barrier?

Correct AnswerverifiedShow Answer

Incumbent firms may enjoy increased bargaining power because the Internet

Correct AnswerverifiedShow Answer

Scanning the general environment would identify information on

Correct AnswerverifiedShow Answer

The strategic groups concept is valuable for charting the ________ directions of firm strategies.

Correct AnswerverifiedShow Answer

The Internet and digital technologies suppress the bargaining power of buyers by providing them with more information to make buying decisions.

Correct AnswerverifiedShow Answer

All of the following are important elements of the political and legal segment of the general environment except

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

Complements are products or services that have a potential impact on the ________ of the products or services of that company.

Correct AnswerverifiedShow Answer

Even with all the advances in recent years,forecasting is typically considered more of an art than a science and it is of little use in generating accurate predictions.

Correct AnswerverifiedShow Answer

Two of the key inputs to developing forecasts discussed in the text are

Correct AnswerverifiedShow Answer

Correct AnswerverifiedShow Answer

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

Correct AnswerverifiedShow Answer

Ted Turner saw the potential of 24-hour news before anyone else.This is an example of perceptual acuity.

Correct AnswerverifiedShow Answer

The strategic groups concept is valuable for identifying groups with ________ competitive positions.

Correct AnswerverifiedShow Answer

In the general environment,which of the following is not a demographic trend?

Correct AnswerverifiedShow Answer

Technological innovations can create entirely new industries and alter the boundaries of industries.

Correct AnswerverifiedShow Answer

The bargaining power of suppliers increases as

Correct AnswerverifiedShow Answer

Perceptual acuity,according to Ram Charan,is the ability to know for certain what will happen in the future.

Correct AnswerverifiedShow Answer

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
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Correct Answer
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Correct Answer
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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
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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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
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