Question 1

Which of the following industry characteristics leads to greater rivalry?

Accepted Answer

A)  A few competitors 
B)  A slow growth industry 
C)  Differentiated products 
D)  Low fixed costs 
E)  Low exit barriers 
A)  A few competitors 
B)  A slow growth industry 
C)  Differentiated products 
D)  Low fixed costs 
E)  Low exit barriers B

Question 2

Substitute products form a _____.

Accepted Answer

A)  ceiling on prices 
B)  floor on prices 
C)  match group 
D)  strategic group 
E)  focus group 
A)  ceiling on prices 
B)  floor on prices 
C)  match group 
D)  strategic group 
E)  focus group A

Question 3

What is the primary advantage of interlocking directorates?

Accepted Answer

A)  The potential to form a network. 
B)  The potential to collect and disseminate information. 
C)  The potential to establish exchange arrangements. 
D)  The potential to form a specialized joint venture. 
E)  The potential to draw resources from other firms to achieve stability. 
A)  The potential to form a network. 
B)  The potential to collect and disseminate information. 
C)  The potential to establish exchange arrangements. 
D)  The potential to form a specialized joint venture. 
E)  The potential to draw resources from other firms to achieve stability. E

Question 4

The _____ is among the most significant determinant of organizational success, both at home and abroad.

Accepted Answer

A)  broad environment 
B)  operating environment 
C)  sociocultural environment 
D)  economic environment 
E)  political environment 
A)  broad environment 
B)  operating environment 
C)  sociocultural environment 
D)  economic environment 
E)  political environment

Question 5

Organizations should consider forecasts of economic growth in determining when to _____.

Accepted Answer

A)  plan plant expansion 
B)  plan a reduction in force 
C)  make an acquisition 
D)  make critical resource allocation decisions 
E)  move into another market 
A)  plan plant expansion 
B)  plan a reduction in force 
C)  make an acquisition 
D)  make critical resource allocation decisions 
E)  move into another market

Question 6

Which environment consists of stakeholders with whom organizations interact on a regular basis?

Accepted Answer

A)  The sociocultural environment 
B)  The economic environment 
C)  The operating environment 
D)  The political environment 
E)  The technological environment 
A)  The sociocultural environment 
B)  The economic environment 
C)  The operating environment 
D)  The political environment 
E)  The technological environment

Question 7

Suppliers in the Five Forces model are powerful when the following characteristics are present except when they _____.

Accepted Answer

A)  are few in number 
B)  sell products and services that can be substituted with other products and services 
C)  have dependent customers 
D)  have a differentiated product 
E)  can easily integrate forward 
A)  are few in number 
B)  sell products and services that can be substituted with other products and services 
C)  have dependent customers 
D)  have a differentiated product 
E)  can easily integrate forward

Question 8

Economic power that allows a firm or group of firms to influence the nature of business arrangements is commonly referred to as _____.

Accepted Answer

A)  economic power 
B)  bargaining power 
C)  industry competition 
D)  vertical integration 
E)  horizontal integration 
A)  economic power 
B)  bargaining power 
C)  industry competition 
D)  vertical integration 
E)  horizontal integration

Question 9

Major innovations that influence more than one business or industry are referred to as _____.

Accepted Answer

A)  basic innovations 
B)  technological innovations 
C)  dominant designs 
D)  radical innovations 
E)  new innovations 
A)  basic innovations 
B)  technological innovations 
C)  dominant designs 
D)  radical innovations 
E)  new innovations

Question 10

Discuss the four perspectives that make societal analysis important.

Accepted Answer

a. Broader societal influences can creat

Question 11

When an innovation has an impact on more than one industry it is referred to as a _____.

Accepted Answer

A)  new innovation 
B)  technological innovation 
C)  dominant design 
D)  radical innovation 
E)  basic innovation 
A)  new innovation 
B)  technological innovation 
C)  dominant design 
D)  radical innovation 
E)  basic innovation

Question 12

Attributes associated with a product or service that cause customers to prefer it rather than competing products or services are _____.

Accepted Answer

A)  entry barriers 
B)  economies of scale 
C)  capital requirements 
D)  product/service differentiation 
E)  hypercompetition 
A)  entry barriers 
B)  economies of scale 
C)  capital requirements 
D)  product/service differentiation 
E)  hypercompetition

Question 13

Entry barriers are caused by all of the following, except _____.

Accepted Answer

A)  economies of scale 
B)  capital requirements 
C)  product differentiation 
D)  low switching costs 
E)  inimitable resources 
A)  economies of scale 
B)  capital requirements 
C)  product differentiation 
D)  low switching costs 
E)  inimitable resources

Question 14

Forces that are outside the traditional boundaries of the firm are called _____.

Accepted Answer

A)  the external environment 
B)  the internal environment 
C)  the stakeholder environment 
D)  the broad environment 
E)  the sociocultural environment 
A)  the external environment 
B)  the internal environment 
C)  the stakeholder environment 
D)  the broad environment 
E)  the sociocultural environment

Question 15

A group of firms oriented towards problem solving and technology development is referred to as a(n) _____.

Accepted Answer

A)  networks 
B)  consortia 
C)  alliances 
D)  trade associations 
E)  interlocking directorate 
A)  networks 
B)  consortia 
C)  alliances 
D)  trade associations 
E)  interlocking directorate

Question 16

Having a legal right to make decisions for some part of the company is referred to as a(n) _______.

Accepted Answer

A)  social stake 
B)  formal power 
C)  economic power 
D)  political power 
E)  stakeholders' power 
A)  social stake 
B)  formal power 
C)  economic power 
D)  political power 
E)  stakeholders' power

Question 17

Define technology and discuss the three characteristics of technological innovation.

Accepted Answer

a. Technology refers to human knowledge

Question 18

Influences and trends associated with domestic or global economies are called the _____.

Accepted Answer

A)  broad environment 
B)  economic environment 
C)  sociocultural environment 
D)  operating environment 
E)  external environment 
A)  broad environment 
B)  economic environment 
C)  sociocultural environment 
D)  operating environment 
E)  external environment

Question 19

Costs associated with leaving a business or industries are commonly referred to as _____.

Accepted Answer

A)  economic barriers 
B)  exit barriers 
C)  fixed costs 
D)  entry barriers 
E)  economies of scale 
A)  economic barriers 
B)  exit barriers 
C)  fixed costs 
D)  entry barriers 
E)  economies of scale

Question 20

The context in which the firm exists is called the _____.

Accepted Answer

A)  stakeholder environment 
B)  sociocultural environment 
C)  operating environment 
D)  political environment 
E)  broad environment 
A)  stakeholder environment 
B)  sociocultural environment 
C)  operating environment 
D)  political environment 
E)  broad environment

Which of the following industry characteristics leads to greater rivalry?

Substitute products form a _____.

What is the primary advantage of interlocking directorates?

The _____ is among the most significant determinant of organizational success, both at home and abroad.

Organizations should consider forecasts of economic growth in determining when to _____.

Which environment consists of stakeholders with whom organizations interact on a regular basis?

Suppliers in the Five Forces model are powerful when the following characteristics are present except when they _____.

Economic power that allows a firm or group of firms to influence the nature of business arrangements is commonly referred to as _____.

Major innovations that influence more than one business or industry are referred to as _____.

Discuss the four perspectives that make societal analysis important.

When an innovation has an impact on more than one industry it is referred to as a _____.

Attributes associated with a product or service that cause customers to prefer it rather than competing products or services are _____.

Entry barriers are caused by all of the following, except _____.

Forces that are outside the traditional boundaries of the firm are called _____.

A group of firms oriented towards problem solving and technology development is referred to as a(n) _____.

Having a legal right to make decisions for some part of the company is referred to as a(n) _______.

Define technology and discuss the three characteristics of technological innovation.

Influences and trends associated with domestic or global economies are called the _____.

Costs associated with leaving a business or industries are commonly referred to as _____.

The context in which the firm exists is called the _____.

Strategic Management

Strategic Direction

Organizational Resources and Competitive Advantage

Strategy Formulation at the Business-Unit Level

Corporate-Level Strategy and Restructuring

Strategy Implementation Through Interorganizational Relationships and Management of Functional Resources

Strategy Implementation Through Organizational Design and Control

Strategies for Entrepreneurship and Innovation

Global Strategic Management and the Future

Filters

Exam 2: The Environment and External Stakeholders

Which of the following industry characteristics leads to greater rivalry?

Substitute products form a _____.

What is the primary advantage of interlocking directorates?

The _____ is among the most significant determinant of organizational success, both at home and abroad.

Organizations should consider forecasts of economic growth in determining when to _____.

Which environment consists of stakeholders with whom organizations interact on a regular basis?

Suppliers in the Five Forces model are powerful when the following characteristics are present except when they _____.

Economic power that allows a firm or group of firms to influence the nature of business arrangements is commonly referred to as _____.

Major innovations that influence more than one business or industry are referred to as _____.

Discuss the four perspectives that make societal analysis important.

When an innovation has an impact on more than one industry it is referred to as a _____.

Attributes associated with a product or service that cause customers to prefer it rather than competing products or services are _____.

Entry barriers are caused by all of the following, except _____.

Forces that are outside the traditional boundaries of the firm are called _____.

A group of firms oriented towards problem solving and technology development is referred to as a(n) _____.

Having a legal right to make decisions for some part of the company is referred to as a(n) _______.

Define technology and discuss the three characteristics of technological innovation.

Influences and trends associated with domestic or global economies are called the _____.

Costs associated with leaving a business or industries are commonly referred to as _____.

The context in which the firm exists is called the _____.

Strategic Management

Strategic Direction

Organizational Resources and Competitive Advantage

Strategy Formulation at the Business-Unit Level

Corporate-Level Strategy and Restructuring

Strategy Implementation Through Interorganizational Relationships and Management of Functional Resources

Strategy Implementation Through Organizational Design and Control

Strategies for Entrepreneurship and Innovation

Global Strategic Management and the Future

Filters