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

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Question 1

Multiple Choice

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Strategic groups are clusters of firms that share ________ strategies.

A) differing
B) the same
C) similar
D) new

E) None of the above
F) A) and D)

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Question 2

Multiple Choice

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In the five-forces model, conditions under which a supplier group can be powerful include all of the following except

A) lack of importance of the buyer to the supplier group.
B) high differentiation by the supplier.
C) readily available substitute products.
D) dominance by a few suppliers.

E) A) and C)
F) C) and D)

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Question 3

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Data Analytics are being used by corporations to understand their customer purchasing patterns. This is an example of which segment of the general environment?

In the general environment, many relationships exist among the various elements. General environmental trends can have positive and negative impacts on various industries. For example,theaging population might have a ________ impact on the health care industry and a ________ impact on the baby product industry. These are called ________ impacts.

In 1977, Kenneth H. Olsen, then president of Digital Equipment Corp., announced that there was no reason for individuals to have a computer in their home. Long since disproven, this isanexample of

SWOT analysis is useful in part because it obliges the firm to act proactively by putting an emphasis on identifying opportunities and threats that constrain the action choices a firm mightmake because of its internal and external environmental scan.

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

Which of the following would be an entry barrier?

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

Firms that were successful in the past can fail today because

Because the Internet lowers barriers to entry in most industries, it

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

Competitive Intelligence (CI) is a tool that can provide management with early warnings about both threats and opportunities.

Referring to the textbook Exhibit 2.7 The World Automobile Industry: Strategic Groups, which strategic group is the smallest in terms of breadth of product line?

Referring to the textbook Exhibit 2.7 The World Automobile Industry: Strategic Groups, which strategic group is the largest in terms of breadth of product line?

Reintermediation is responsible for an overall reduction in business opportunities.

Which of the following is not an input process to develop forecasts?

Supplier power has increased because of the Internet for all the following reasons except

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

Research published in Personnel Psychology shows that older workers are slightly more willing to implement organizational changes than younger workers. This is an example of which segmentof the general environment?