week 2 quiz strategy

week_2_st.docx

Question 1

·   The ____ environment is composed of dimensions in the broader society that can influence an industry and the firms within it.  

10 points

Question 2

·   Which of the following is NOT an activity used in the external environmental analysis process?  

10 points

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.

10 points

Question 4

·   An analysis of society's attitudes and values would be conducted when studying the ______ segment of the general environment.  

10 points

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.

10 points

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.

10 points

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.

10 points

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.

10 points

Question 9

·   A competitor analysis includes all of the following EXCEPT competitor  

10 points

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.