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Exam 2: Analyzing the External Environment of the Firm Creating Competitive Advantages

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Question 61

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Airbnb, a room-sharing site, offers more rooms than Marriott. Goldman Sachs suggests that the supply of new rooms over the next two years will outpace the previous five even though thegrowth of American occupancy rates has begun to slow. Which competitive force is involved in this situation?

A) the threat of favorable government policies
B) the threat of new buyers
C) the threat of new entrants
D) the threat of proprietary products

E) A) and B)
F) C) and D)

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Question 62

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Professor Tamara Erickson says that members of different generations bring different experiences, assumptions, and benefits to the workforce. She believes companies can gain a great deal from creating a culture that welcomes workers of all ages and in which leaders address biases. This is an example of which segments of the general environment?

A) economic
B) demographic
C) sociocultural
D) political and legal

E) None of the above
F) A) and B)

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Question 63

Multiple Choice

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Scenario analysis draws on a range of disciplines and interests. It is a more ________ approach to forecasting.

Gathering competitive intelligence

SWOT analysis raises awareness about the role of strategy in creating a match between the environmental conditions and ________ of the firm.

All of the following are important elements of the political and legal segment of the general environment except

SWOT analysis is a framework for analyzing the internal and external environment of a company. It consists of strengths, weaknesses, opportunities, and threats. According to a SWOT analysis, which of the following is not an aspect that the strategy of the firm must follow?

When investors examine the performance of beauty products like Olay moisturizers and CoverGirl cosmetics, they are looking for

In 2014, Audi introduced the Q3 SUV at a base price of only $32,500. And BMW, with its 1-series, is another well-known example. Such cars, priced in the low $30,000s, compete more directly with products from broad-line manufacturers like Ford, General Motors, and Toyota. This suggests that members of a strategic group can overcome ________ barriers and migrate to other groups that they find attractive if they are willing to commit time and resources.