Question 1

If companies miscalculate the market,opportunities will be lost.

Accepted Answer

A) True 
 B)False

Question 2

Which of the following would not lead a manager to believe that an ethical concern exists?

Accepted Answer

A)   Have I done anything that coerced somebody to share this information?
B)   Is the contemplated technique for gathering information relevant?
C)   Have I done something to circumvent a system intended to secure or protect information?
D)   Have I misled anybody in order to gain access?E) B) and C)
F) B) and D)

Question 3

Two non-competing global firms meet quarterly to discuss multiple perspectives on world trends.This is an example of how to improve

Accepted Answer

A)   stakeholder management.
B)   perceptual acuity.
C)   internal scanning.
D)   financial returns.E) None of the above
F) A) and D)

Question 4

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 Americans with Disabilities Act (AD
A)  .
C)   the increased use of Internet technology.
D)   increases in the federally mandated minimum wage.E) B) and C)
F) B) and D)

Question 5

Using the Cuusoo System,Lego develops ideas that are generated by the many children and adults who create a model,take photos,write project descriptions,and submit their idea on the Lego website.This is an example of using __________ to develop new products.

Accepted Answer

A)   sociocultural data
B)   demographic data
C)   technological data
D)   crowdsourcingE) B) and D)
F) None of the above

Question 6

Switching costs for an end user are likely to be much higher because of the Internet.

Accepted Answer

A) True 
 B)False

Question 7

The strategic groups concept is valuable for determining mobility barriers across groups,identifying groups with marginal competitive positions,charting the future directions of firm strategies,and assessing the implications of industry trends for the strategic group as a whole.

Accepted Answer

A) True 
 B)False

Question 8

The Apple iPod was enormously successful due in large part to the company strategy of using

Accepted Answer

A)   substitute products.
B)   technical savvy.
C)   complementors.
D)   sophisticated software.E) A) and D)
F) None of the above

Question 9

Which of the following websites is not an example of one used routinely for corporate competitive intelligence gathering?

Accepted Answer

A)   Slideshare
B)   Quora
C)   Duolingo
D)   YouTubeE) A) and C)
F) C) and D)

Question 10

Apple used complementors to gain market share in the digital music business.

Accepted Answer

A) True 
 B)False

Question 11

Strategic groupings are of no assistance in charting the future direction of company strategy.

Accepted Answer

A) True 
 B)False

Question 12

Which is considered a force in the five-forces model?

Accepted Answer

A)   increased deregulation in an industry
B)   the threat of government intervention
C)   recent technological innovation
D)   rivalry among competing firmsE) A) and D)
F) B) and C)

Question 13

Even with all of 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 14

Heightened concern with fitness might be a threat to some companies and an opportunity to others.In the SWOT framework,these are

Accepted Answer

A)   internal environmental factors.
B)   external environmental factors.
C)   both internal and external environmental factors.
D)   not relevant external environmental factors.E) A) and D)
F) B) and D)

Question 15

The use of the strategic group concept is generally not helpful in charting the future directions of the strategies of a firm.

Accepted Answer

A) True 
 B)False

Question 16

Underestimating uncertainty can lead to strategies that neither defend against threats nor take advantage of opportunities.

Accepted Answer

A) True 
 B)False

Question 17

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

Accepted Answer

A) True 
 B)False

Question 18

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) B) and D)
F) C) and D)

Question 19

The bargaining power of suppliers is enhanced under the following market condition:

Accepted Answer

A)   no threat of forward integration.
B)   low differentiation of the supplier products.
C)   greater availability of substitute products.
D)   dominance by a few suppliers.E) C) and D)
F) B) and D)

Question 20

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

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

Which is considered a force in the five-forces model?

Correct AnswerverifiedShow Answer

The bargaining power of suppliers is enhanced under the following market condition:

Correct AnswerverifiedShow Answer

Which of the following websites is not an example of one used routinely for corporate competitive intelligence gathering?

Correct AnswerverifiedShow Answer

If companies miscalculate the market,opportunities will be lost.

Correct AnswerverifiedShow Answer

Using the Cuusoo System,Lego develops ideas that are generated by the many children and adults who create a model,take photos,write project descriptions,and submit their idea on the Lego website.This is an example of using __________ to develop new products.

Correct AnswerverifiedShow Answer

Strategic groupings are of no assistance in charting the future direction of company strategy.

Correct AnswerverifiedShow Answer

Two non-competing global firms meet quarterly to discuss multiple perspectives on world trends.This is an example of how to improve

Correct AnswerverifiedShow Answer

Underestimating uncertainty can lead to strategies that neither defend against threats nor take advantage of opportunities.

Correct AnswerverifiedShow Answer

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

Correct AnswerverifiedShow Answer

Heightened concern with fitness might be a threat to some companies and an opportunity to others.In the SWOT framework,these are

Correct AnswerverifiedShow Answer

Which of the following would not lead a manager to believe that an ethical concern exists?

Correct AnswerverifiedShow Answer

The strategic groups concept is valuable for determining mobility barriers across groups,identifying groups with marginal competitive positions,charting the future directions of firm strategies,and assessing the implications of industry trends for the strategic group as a whole.

Correct AnswerverifiedShow Answer

The use of the strategic group concept is generally not helpful in charting the future directions of the strategies of a firm.

Correct AnswerverifiedShow Answer

The Apple iPod was enormously successful due in large part to the company strategy of using

Correct AnswerverifiedShow Answer

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

Correct AnswerverifiedShow Answer

Apple used complementors to gain market share in the digital music business.

Correct AnswerverifiedShow Answer

Switching costs for an end user are likely to be much higher because of the Internet.

Correct AnswerverifiedShow Answer

Even with all of 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

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

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

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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
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