Question The ________ consists of broad trends in the context in which a firm operates that can have an impact on a firm's strategic choices.
Answer
Question All of the following are elements of the general environment except
Answer
Question ________ is/are the distribution of individuals in a society in terms of age, sex, marital status, income, ethnicity, and other personal attributes that may determine buying patterns.
Answer
Question The values, beliefs and norms that guide behavior in a society are known as
Answer
Question When activity in an economy is relatively low for a short period of time, the economy is said to be in a
Answer
Question Civil wars, political coups, terrorism, wars between countries, famines, and country or regional economic recessions are all examples of which element of the general environment?
Answer
Question In the S-C-P model, ________ refers to the strategies that firms in an industry implement
Answer
Question In a perfectly competitive industry
Answer
Question Within the five forces framework, the five most common threats facing firms from their competitive environment include each of the following except
Answer
Question Firms in industries characterized by ________ can expect to earn only competitive parity
Answer
Question Which type of competition is characterized by a large number of firms, heterogeneous products and low cost of entry and exit?
Answer
Question Which type of competition is characterized by a small number of firms, homogeneous products and costly entry and exit?
Answer
Question A(n) ________ is any individual, group, or organization outside a firm that seeks to reduce the level of that firm's performance
Answer
Question Firms that have either recently begun operations in an industry or that threaten to begin operations in an industry soon are considered to be ________ in the five forces framework
Answer
Question ________ exist when a firm's costs rise as a function of its volume of production
Answer
Question All other things being equal, which of the following would lead to lower barriers to entry in an industry
Answer
Question Frequent price cutting by firms in an industry, frequent introduction of new products by firms in an industry and intense advertising campaigns are indications of
Answer
Question The threat of direct competition tends to be high when
Answer
Question The products or services provided by a firm's direct competitors meet ________ customer needs in ________ ways as the product provided by the firm itself.
Answer
Question Which of the following statements regarding substitutes is accurate
Answer
Question ________ make a wide variety of raw materials, labor and other critical assets available to firms
Answer
Question Which of the following attributes makes suppliers a stronger threat?
Answer
Question Which of the following is the best example of forward vertical integration
Answer
Question Buyers tend to have less power when
Answer
Question Overall, the average level of performance in an industry is likely to be highest when
Answer
Question If your customers value your products more when they have your product and another firm's product rather than when they have your product alone, the other firm is considered to be a
Answer
Question An industry in which a large number of small or medium-sized firms operate and no small set of firms has dominant market share or creates dominant technologies is known as a(n) ________ industry
Answer
Question The major opportunity facing firms in fragmented industries is
Answer
Question The advantages that come to firms that make important strategic and technological decisions early in the development of an industry are known as ________ advantages
Answer
Question In general, first-mover advantages can arise from any of these sources except
Answer
Question Mature industries are characterized by
Answer
Question The most promising opportunity for a firm in a declining industry is to
Answer
Question Firms in a declining industry that engage in a long, systematic phased withdrawal from the industry, extracting as much value as possible during the withdrawal period, are following a(n) ________ strategy
Answer
Question Industries in which a large number of small or medium-sized firms operate and no small set of firms has dominant market share or creates dominant technologies are called ________ industries
Answer
Question ________ are advantages that come to firms that make important strategic and technological decisions early in the development of an industry
Answer
Question A consolidation strategy is a good option in what type of industry
Answer
Question ________ are resources required to successfully compete in an industry.
Answer
Question ________ costs exist when customers make investments in order to use a firm's particular products or services
Answer
Question Based on the above description, the hardwood furniture industry can best be described as a(n) ________ industry.
Answer
Question The level of direct competition in the hardwood furniture industry can best be described
Answer
Question The threat of suppliers in the hardwood furniture can best be described as
Answer
Question If Hickory Divine were to open its own chain of furniture stores, this would be an example of
Answer
Question In this example, composite wood furniture would be an example of a(n)
Answer
Question The threat of buyers in this industry is best described as
Answer
Question Which of the following best describes the competition in the U.S. online auction industry
Answer
Question For BidBuy, services such as those offered by DollarDog that make BidBuy's services more valuable for customers who use the services of both companies are best described as
Answer
Question Factors such as BidBuy's feedback rating system that are valuable to the company's customers but which are not useful on other online auction sites are examples of
Answer
Question BidBuy has a ________ advantage
Answer
Question The products or services provided by a firm's substitutes meet ________ customer needs in ________ ways as the product provided by the firm itself.
Answer
|