Multiple choice questions:
Question 1
. ? The ____ environment is composed of dimensions in the broader society that can influence an industry and the firms within it.??
. General
. Competitor
. Sociocultural
. Industry
Question 2
. ? Which of the following is NOT an activity used in the external environmental analysis process???
. Scanning
. Decrypting
. Monitoring
. Assessing
Question 3
. ? The economic environment refers to??
. the nature and direction of the economy in which a firm competes or may compete.
. the economic outlook of the world provided by the World Bank.
. an analysis of how the environmental movement and world economy interact.
. an analysis of how new environmental regulations will affect the U.S. economy.
Question 4
. ? An analysis of society's attitudes and values would be conducted when studying the ______ segment of the general environment.??
. sociocultural
. global
. demographic
. economic
Question 5
. ? An industry is defined as??
. a group of firms producing the same products or services.
. firms producing items that sell through the same distribution channels.
. firms that sell the same products or services to the same customer base.
. a group of firms producing products that are close substitutes.
Question 6
. ? Product differentiation refers to the:??
. ability of the buyers of a product to negotiate a lower price.
. response of incumbent firms to new entrants.
. belief by customers that a product is unique.
. fact that as more of a product is produced the cheaper it becomes per unit.
Question 7
. ? Switching costs refer to the:??
. cost to a producer to exchange equipment in a facility when new technologies emerge.
. cost of changing the firm's strategic group.
. one-time costs suppliers incur when selling to a different customer.
. one-time costs customers incur when buying from a different supplier.
Question 8
. ? Firms within strategic groups??
. follow dissimilar strategies.
. follow similar strategies across certain dimensions.
. typically engage in greater amounts of intergroup rivalry than intragroup rivalry.
. exist almost exclusively in the manufacturing sector.
Question 9
. ? A competitor analysis includes all of the following EXCEPT competitor??
. Objectives
. Capabilities
. Assumptions
. Traditions
Question 10
. ? Competitor intelligence is??
. legally or illegally-gained data about competitors' internal strategic processes and competitive decisions.
. strategic information gain from industrial espionage targeting international competitors.
. the data that the firm gathers to understand competitors' objectives, strategies, assumptions, and capabilities.
. illegal to gather under the Sarbanes-Oxley Act.