Question 1

Discuss and provide examples of factors that would lead to greater buyer power.

Accepted Answer

Buyer power refers to the ability of cus...

Question 2

Interest-rate increases have a __________ impact on the residential home construction industry and a __________ effect on industries that produce consumer necessities such as prescription drugs or basic grocery items.

Accepted Answer

A)   positive; negligible
B)   negative; negligible
C)   negative; positive
D)   positive; negativeE) B) and C)
F) All of the above

Question 3

The power of a buyer group is increased if the buyer group has less concentration than the supplier group.

Accepted Answer

A) True 
 B)False

Question 4

A hard trend is something that might happen and for which the probability that it might happen can be estimated.

Accepted Answer

A) True 
 B)False

Question 5

A major sociocultural trend in the United States is the increased educational attainment by women.

Accepted Answer

A) True 
 B)False

Question 6

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,the aging population might have a ______ impact on the health care industry and a ______ impact on the baby product industry.These are called _____________ impacts.

Accepted Answer

A)   negative; positive; demographic
B)   positive; negative; technological
C)   negative; positive; sociocultural
D)   positive; negative; demographicE) A) and D)
F) B) and C)

Question 7

Which of the following statements about strategic groups is FALSE?

Accepted Answer

A)   Two assumptions are made: (1)  no two firms are totally different, (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) A) and B)
F) All of the above

Question 8

Rivalry is most intense when there are high exit barriers and high industry growth.

Accepted Answer

A) True 
 B)False

Question 9

What value is the strategic group concept as a tool in analyzing an industry?

Accepted Answer

The strategic group concept is a valuabl...

Question 10

Which of the following would be considered part of a firm's general environment?

Accepted Answer

A)   decreased entry barriers
B)   higher unemployment rates
C)   increased bargaining power of the firm's suppliers
D)   increased competitive intensityE) B) and C)
F) All of the above

Question 11

A supplier group would be most powerful when _________.

Accepted Answer

A)   there are many suppliers
B)   there are few substitute products
C)   there is a low differentiation of products supplied
D)   there is a high threat of backward integration by the buyersE) B) and D)
F) A) and D)

Question 12

A soft trend is a projection based on measureable facts,events,or objects.It is something that will happen.

Accepted Answer

A) True 
 B)False

Question 13

Which of the following is not an example of corporate competitive analysis?

Accepted Answer

A)   Banks tracking home loans
B)   Airlines changing hundreds of fares daily in response to competitor tactics
C)   Car manufacturers offering sales incentives based on rival offers
D)   Consumers comparing product offers onlineE) A) and B)
F) B) and C)

Question 14

The aging of the population,changes in ethnic composition,and effects of the baby boom are ____.

Accepted Answer

A)   macroeconomic changes
B)   demographic changes
C)   global changes
D)   sociocultural changesE) A) and D)
F) A) and C)

Question 15

Threat of substitute products comes from ____________.

Accepted Answer

A)   other companies in the same industry
B)   foreign companies which can use cheap labor in their countries
C)   firms in other industries that produce products or services that satisfy the same customer need
D)   new companies in the same industryE) A) and C)
F) A) and B)

Question 16

Explain the important barriers to entry in an industry.Provide examples.

Accepted Answer

Barriers to entry in an industry refer t...

Question 17

Because of the Internet and digital technologies,it is very difficult for suppliers to create purchasing techniques that lower switching costs.

Accepted Answer

A) True 
 B)False

Question 18

The most intense rivalry results from _____________.

Accepted Answer

A)   numerous equally balanced competitors, slow industry growth, high fixed or storage costs
B)   few competitors, slow industry growth, lack of differentiation, high fixed or storage costs
C)   numerous equally balanced competitors, manufacturing capacity increases only in large increments, low exit barriers
D)   a high level of differentiationE) A) and B)
F) A) and D)

Question 19

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

Accepted Answer

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

Question 20

Supplier power tends to be highest in industries where products are vital to buyers,where switching from one supplier to another is very costly,and where there are many suppliers.

Accepted Answer

A) True 
 B)False

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

Which of the following is not an example of corporate competitive analysis?

Correct Answer
verified

Correct Answer
verified

Threat of substitute products comes from ____________.

Correct Answer
verified

The power of a buyer group is increased if the buyer group has less concentration than the supplier group.

Correct Answer
verified

A hard trend is something that might happen and for which the probability that it might happen can be estimated.

Correct Answer
verified

Explain the important barriers to entry in an industry.Provide examples.

Correct Answer
Answered by ExamLex AI
Barriers to entry in an industry refer t...
View Answer

Which of the following statements about strategic groups is FALSE?

Correct Answer
verified

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

Correct Answer
verified

Interest-rate increases have a impact on the residential home construction industry and a effect on industries that produce consumer necessities such as prescription drugs or basic grocery items.

Correct Answer
verified

Which of the following would be considered part of a firm's general environment?

Correct Answer
verified

Supplier power tends to be highest in industries where products are vital to buyers,where switching from one supplier to another is very costly,and where there are many suppliers.

Correct Answer
verified

A soft trend is a projection based on measureable facts,events,or objects.It is something that will happen.

Correct Answer
verified

Discuss and provide examples of factors that would lead to greater buyer power.

Correct Answer
Answered by ExamLex AI
Buyer power refers to the ability of cus...
View Answer

A major sociocultural trend in the United States is the increased educational attainment by women.

Correct Answer
verified

Rivalry is most intense when there are high exit barriers and high industry growth.

Correct Answer
verified

A supplier group would be most powerful when _________.

Correct Answer
verified

Because of the Internet and digital technologies,it is very difficult for suppliers to create purchasing techniques that lower switching costs.

Correct Answer
verified

The most intense rivalry results from _____________.

Correct Answer
verified

The aging of the population,changes in ethnic composition,and effects of the baby boom are ____.

Correct Answer
verified

What value is the strategic group concept as a tool in analyzing an industry?

Correct Answer
Answered by ExamLex AI
The strategic group concept is a valuabl...
View Answer

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

Which of the following is not an example of corporate competitive analysis?

Correct AnswerverifiedShow Answer

Correct AnswerverifiedShow Answer

Threat of substitute products comes from ____________.

Correct AnswerverifiedShow Answer

The power of a buyer group is increased if the buyer group has less concentration than the supplier group.

Correct AnswerverifiedShow Answer

A hard trend is something that might happen and for which the probability that it might happen can be estimated.

Correct AnswerverifiedShow Answer

Explain the important barriers to entry in an industry.Provide examples.

Correct AnswerAnswered by ExamLex AIBarriers to entry in an industry refer t...View AnswerShow Answer

Which of the following statements about strategic groups is FALSE?

Correct AnswerverifiedShow Answer

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

Correct AnswerverifiedShow Answer

Interest-rate increases have a __________ impact on the residential home construction industry and a __________ effect on industries that produce consumer necessities such as prescription drugs or basic grocery items.

Correct AnswerverifiedShow Answer

Which of the following would be considered part of a firm's general environment?

Correct AnswerverifiedShow Answer

Supplier power tends to be highest in industries where products are vital to buyers,where switching from one supplier to another is very costly,and where there are many suppliers.

Correct AnswerverifiedShow Answer

A soft trend is a projection based on measureable facts,events,or objects.It is something that will happen.

Correct AnswerverifiedShow Answer

Discuss and provide examples of factors that would lead to greater buyer power.

Correct AnswerAnswered by ExamLex AIBuyer power refers to the ability of cus...View AnswerShow Answer

A major sociocultural trend in the United States is the increased educational attainment by women.

Correct AnswerverifiedShow Answer

Rivalry is most intense when there are high exit barriers and high industry growth.

Correct AnswerverifiedShow Answer

A supplier group would be most powerful when _________.

Correct AnswerverifiedShow Answer

Because of the Internet and digital technologies,it is very difficult for suppliers to create purchasing techniques that lower switching costs.

Correct AnswerverifiedShow Answer

The most intense rivalry results from _____________.

Correct AnswerverifiedShow Answer

The aging of the population,changes in ethnic composition,and effects of the baby boom are ____.

Correct AnswerverifiedShow Answer

What value is the strategic group concept as a tool in analyzing an industry?

Correct AnswerAnswered by ExamLex AIThe strategic group concept is a valuabl...View AnswerShow Answer

Correct Answer
verified

Correct Answer
verified

Correct Answer
verified

Correct Answer
verified

Correct Answer
verified

Correct Answer
Answered by ExamLex AI
Barriers to entry in an industry refer t...
View Answer

Correct Answer
verified

Correct Answer
verified

Interest-rate increases have a impact on the residential home construction industry and a effect on industries that produce consumer necessities such as prescription drugs or basic grocery items.

Correct Answer
verified

Correct Answer
verified

Correct Answer
verified

Correct Answer
verified

Correct Answer
Answered by ExamLex AI
Buyer power refers to the ability of cus...
View Answer

Correct Answer
verified

Correct Answer
verified

Correct Answer
verified

Correct Answer
verified

Correct Answer
verified

Correct Answer
verified

Correct Answer
Answered by ExamLex AI
The strategic group concept is a valuabl...
View Answer