BU470.3.1 STRATEGIC MANAGEMENT Online Exam 3_03

Online Exam 3_03

Question 1 of 20 
One challenge of conducting an external analysis is:

 
A. an external analysis can be time consuming. 
 
B. the environment might be changing more rapidly than you can keep up with. 
 
C. the internal analysis of the organization is very important to managing strategically. 
 
D. it is time consuming and the environment changes very rapidly. 

 80

Question 2 of 20 
An element of the environment as information perspective is:

 
A. environmental relevancy. 
 
B. environmental uncertainty. 
 
C. environmental currency. 
 
D. environmental texture. 

 57

Question 3 of 20 
The Porter Five Forces model includes all of the following factors EXCEPT:

 
A. bargaining power of suppliers. 
 
B. threat of new entrants. 
 
C. threat of a decrease in research and development. 
 
D. threat of substitute products. 

 62

Question 4 of 20 
The major problem with forecasts and trend analyses is:

 
A. the information is difficult to compile with the latest technology. 
 
B. the information constitutes predictions of the future, not actual facts. 
 
C. the information is built using historical trends. 
 
D. consumers do not benefit from technological trends predicted. 

 81

Question 5 of 20 
Which of the following would be considered substitute products?

 
A. Coke and Pepsi 
 
B. Contacts and eyeglasses 
 
C. The Internet and the World Wide Web 
 
D. AT&T and Sprint 

 68

Question 6 of 20 
When organizations consider whether there are upcoming price increases in the products purchased by the industry, this issue refers to the __________ of the Porter Five Forces model.

 
A. bargaining power of buyers 
 
B. threat of potential entrants 
 
C. threat of substitute products 
 
D. bargaining power of suppliers 

 66

Question 7 of 20 
The generation of the postwar group was born between the years:

 
A. 1912-1921. 
 
B. 1922-1927. 
 
C. 1928-1945. 
 
D. 1965-1977. 

 72

Question 8 of 20 
The __________ is a trade alliance among countries.

 
A. Global Union 
 
B. U.S. Economic Act of 1996 
 
C. Association of Southeast Asian Nations 
 
D. Consumer Product Safety Association 

 75

Question 9 of 20
The __________ environment focuses on substitute products, current rivalry, potential entrants, bargaining power of buyers, and bargaining power of suppliers.

 
A. market 
 
B. general 
 
C. specific 
 
D. fragmented 

 60

Question 10 of 20 
As an open system, an organization __________ and __________ its external environment.

 
A. reacts to; controls 
 
B. interacts with; responds to 
 
C. interacts with; controls 
 
D. reacts to; responds to 

 57

Question 11 of 20 
Which of the following does NOT usually function as an entry barrier?

 
A. Economies of scale 
 
B. Product differentiation 
 
C. High strategic stakes 
 
D. Switching costs 

 64

Question 12 of 20 
Organizations are __________ systems, which means they interact with and respond to their environment.

 
A. open 
 
B. organic 
 
C. adaptive 
 
D. external 

 57

Question 13 of 20 
If organizations have __________, they will do whatever it takes to operate at capacity.

 
A. high fixed costs 
 
B. high variable costs 
 
C. numerous competitors 
 
D. equally balanced competitors 

 61

Question 14 of 20 
Demographic information can be obtained from all of the following sources EXCEPT the:

 
A. Economic Statistics Briefing Room. 
 
B. Current Population Survey. 
 
C. Statistical Abstract of the World. 
 
D. Statistical Yearbook. 

 73

Question 15 of 20 
One of the biggest technological advancements to affect the organization in recent years is:

 
A. the ability of managers to control employees electronically. 
 
B. the ability of consumers to buy online. 
 
C. the introduction of hand-held personal computers. 
 
D. continuing computerization of an organization's activities. 

 76

Question 16 of 20 
According to Michael Porter, major potential barriers to entry include all of the following EXCEPT:

 
A. economies of scale. 
 
B. product differentiation. 
 
C. switching costs. 
 
D. developmental costs. 

 64

Question 17 of 20 
The law governing safe and hazard-free work environments is the:

 
A. Equal Employment Opportunity Act of 1972. 
 
B. Americans with Disabilities Act of 1990. 
 
C. Occupational Safety and Health Act of 1970. 
 
D. Civil Rights Act of 1991. 

 75

Question 18 of 20 
Uncertainty is determined by complexity and:

 
A. rate of change. 
 
B. access to information. 
 
C. difficulty of obtaining and controlling resources. 
 
D. competition. 

s 57-58

Question 19 of 20 
Which of the following is NOT one of the five competitive forces?

 
A. Competition forms substitute products 
 
B. The threat of potential entry 
 
C. The strength of industry forces 
 
D. The bargaining power of buyers 

 62

Question 20 of 20 
A buyer will have less bargaining power if all of the following factors apply EXCEPT:

 
A. buyers have limited information. 
 
B. buyers face few switching costs. 
 
C. the products purchased are highly differentiated and unique. 
 
D. buyers purchase small volumes of the products.