Question 1

Discuss the factors that create barriers to entry in Porter's Five Forces model.

Accepted Answer

According to Porter's Five Forces model

Question 2

The interest that a group takes in assuring that an organization behaves in a manner that is socially responsible is referred to as a(n) _______.

Accepted Answer

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

Question 3

The best example which illustrates the competitive force of substitute products is _______.

Accepted Answer

A)  Four Seasons for Best Western 
B)  Kroger Grocery Store for Dairy Queen 
C)  Coca-Cola for Pepsi 
D)  Days Inn for Motel 6 
E)  McDonald's for Burger King 
A)  Four Seasons for Best Western 
B)  Kroger Grocery Store for Dairy Queen 
C)  Coca-Cola for Pepsi 
D)  Days Inn for Motel 6 
E)  McDonald's for Burger King

Question 4

Discuss what factors make customers strong in Porter's Five Forces model.

Accepted Answer

a. They are few in number.
b. They make

Question 5

Which term best describes various types of organizational cooperation?

Accepted Answer

A)  interorganizational relationships 
B)  joint ventures 
C)  political strategies 
D)  benchmarking 
E)  competitive tactics 
A)  interorganizational relationships 
B)  joint ventures 
C)  political strategies 
D)  benchmarking 
E)  competitive tactics

Question 6

A major source of economic uncertainty for global organizations is _____.

Accepted Answer

A)  foreign exchange rates 
B)  political environment 
C)  foreign trade balances 
D)  availability of credit 
E)  inflation rates 
A)  foreign exchange rates 
B)  political environment 
C)  foreign trade balances 
D)  availability of credit 
E)  inflation rates

Question 7

Sociocultural environments have meaning because _____.

Accepted Answer

A)  well-educated people find them meaningful 
B)  they influence trends in a particular region 
C)  they are made up of individuals 
D)  they are made up of stakeholders 
E)  they enhance businesses 
A)  well-educated people find them meaningful 
B)  they influence trends in a particular region 
C)  they are made up of individuals 
D)  they are made up of stakeholders 
E)  they enhance businesses

Question 8

Forces that keep new competitors out and provide a level of protection for existing competitors are called _____.

Accepted Answer

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

Question 9

The bargaining power of suppliers is great when _____.

Accepted Answer

A)  barriers to entry into the suppliers industry are low 
B)  the costs of switching from one supplier to another are low 
C)  the buying firms are important customers of the suppliers 
D)  one or more suppliers pose a credible threat of moving into the business of the buyer 
E)  the supplier industry is composed of a large number of relatively small suppliers 
A)  barriers to entry into the suppliers industry are low 
B)  the costs of switching from one supplier to another are low 
C)  the buying firms are important customers of the suppliers 
D)  one or more suppliers pose a credible threat of moving into the business of the buyer 
E)  the supplier industry is composed of a large number of relatively small suppliers

Question 10

Resources that are possessed by industry participants but are difficult or impossible to completely duplicate are _____.

Accepted Answer

A)  product resources 
B)  service resources 
C)  fixed assets 
D)  substitute resources 
E)  inimitable resources 
A)  product resources 
B)  service resources 
C)  fixed assets 
D)  substitute resources 
E)  inimitable resources

Question 11

All of the following characteristics make buyers in the Five Forces model strong except when _____.

Accepted Answer

A)  they are few in number 
B)  they make high volume purchases 
C)  the products they are buying are differentiated 
D)  they can easily integrate backward 
E)  they are not concerned about the quality of what they are buying 
A)  they are few in number 
B)  they make high volume purchases 
C)  the products they are buying are differentiated 
D)  they can easily integrate backward 
E)  they are not concerned about the quality of what they are buying

Question 12

Cost savings that occur when it is more efficient to produce a product in a large facility at a higher volume are _____.

Accepted Answer

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

Question 13

Discuss the characteristics that lead to greater rivalry in an industry.

Accepted Answer

The characteristics that lead to greater

Question 14

An industry characterized by the existence of a few very large firms is called a(n) _____.

Accepted Answer

A)  monopoly 
B)  capital requirement 
C)  hypercompetition 
D)  oligopoly 
E)  economy of scale 
A)  monopoly 
B)  capital requirement 
C)  hypercompetition 
D)  oligopoly 
E)  economy of scale

Question 15

Techniques that firms use to win market share and increase revenues and profits are _______.

Accepted Answer

A)  interorganizational strategies 
B)  joint ventures 
C)  political strategies 
D)  benchmarking 
E)  competitive tactics 
A)  interorganizational strategies 
B)  joint ventures 
C)  political strategies 
D)  benchmarking 
E)  competitive tactics

Question 16

Which relationship is most important for industries that are heavily regulated or subject to frequent government interferences?

Accepted Answer

A)  Networks 
B)  Consortia 
C)  Alliances 
D)  Trade associations 
E)  Interlocking directorates 
A)  Networks 
B)  Consortia 
C)  Alliances 
D)  Trade associations 
E)  Interlocking directorates

Question 17

Costs associated with starting a business 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 18

The external environment can be divided into which two smaller categories. They are the _____.

Accepted Answer

A)  broad environment and the sociocultural environment 
B)  sociocultural environment and the operating environment 
C)  broad environment and the operating environment 
D)  organizational environment and the sociocultural environment 
E)  broad environment and the organizational environment 
A)  broad environment and the sociocultural environment 
B)  sociocultural environment and the operating environment 
C)  broad environment and the operating environment 
D)  organizational environment and the sociocultural environment 
E)  broad environment and the organizational environment

Discuss the factors that create barriers to entry in Porter's Five Forces model.

The interest that a group takes in assuring that an organization behaves in a manner that is socially responsible is referred to as a(n) _______.

The best example which illustrates the competitive force of substitute products is _______.

Discuss what factors make customers strong in Porter's Five Forces model.

Which term best describes various types of organizational cooperation?

A major source of economic uncertainty for global organizations is _____.

Sociocultural environments have meaning because _____.

Forces that keep new competitors out and provide a level of protection for existing competitors are called _____.

The bargaining power of suppliers is great when _____.

Resources that are possessed by industry participants but are difficult or impossible to completely duplicate are _____.

All of the following characteristics make buyers in the Five Forces model strong except when _____.

Cost savings that occur when it is more efficient to produce a product in a large facility at a higher volume are _____.

Discuss the characteristics that lead to greater rivalry in an industry.

An industry characterized by the existence of a few very large firms is called a(n) _____.

Techniques that firms use to win market share and increase revenues and profits are _______.

Which relationship is most important for industries that are heavily regulated or subject to frequent government interferences?

Costs associated with starting a business are _____.

The external environment can be divided into which two smaller categories. They are 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

Discuss the factors that create barriers to entry in Porter's Five Forces model.

The interest that a group takes in assuring that an organization behaves in a manner that is socially responsible is referred to as a(n) _______.

The best example which illustrates the competitive force of substitute products is _______.

Discuss what factors make customers strong in Porter's Five Forces model.

Which term best describes various types of organizational cooperation?

A major source of economic uncertainty for global organizations is _____.

Sociocultural environments have meaning because _____.

Forces that keep new competitors out and provide a level of protection for existing competitors are called _____.

The bargaining power of suppliers is great when _____.

Resources that are possessed by industry participants but are difficult or impossible to completely duplicate are _____.

All of the following characteristics make buyers in the Five Forces model strong except when _____.

Cost savings that occur when it is more efficient to produce a product in a large facility at a higher volume are _____.

Discuss the characteristics that lead to greater rivalry in an industry.

An industry characterized by the existence of a few very large firms is called a(n) _____.

Techniques that firms use to win market share and increase revenues and profits are _______.

Which relationship is most important for industries that are heavily regulated or subject to frequent government interferences?

Costs associated with starting a business are _____.

The external environment can be divided into which two smaller categories. They are 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