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

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Question 41

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In the SWOT framework,the Strengths and Weaknesses are external environmental factors to consider.

A) True
B) False

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Question 42

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Buyer power will be greater when

A) the products purchased are highly differentiated.
B) it is concentrated or when a buyer group purchases large volumes relative to seller sales.
C) the industry product is very important to the quality of the buyer end products or services.
D) there are high switching costs.

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

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Question 43

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In most industries,new entrants will not be a threat because the Internet lowers entry barriers.

Fast fashion retailer success depends upon the ability to spot trends.Explain this in terms of environmental scanning,monitoring and collecting of competitive intelligence.Use an example to support your argument.Companies such as H&M and Zara fall into this category but there are many other competitors.

Strategic groups consist of a group of

In the value net analysis,complementors are

What is the difference between the demographic segment and the sociocultural segment in the list of general environment factors that impact the strategy and performance of a firm? Provide specific examples to support your discussion.

Banks and airlines are examples of two industries that track competitor offers continually.This is called the process of gathering

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 the growth of American occupancy rates has begun to slow.Which competitive force is involved in this situation?

Research published in Personnel Psychology shows that older workers are slightly more willing to implement organizational changes than younger workers.This is an example of which segment of the general environment?

Use the Quora website (www.quora.com)to study the African country of Ethiopia.According to the general environment factors listed in the textbook (demographic,sociocultural,political/legal,technological,economic,global),make a case for a company to include the country in its list of desirable customers.Be sure to define your company by industry.

The aging of the population,changes in ethnic composition,and effects of the millennial generation are ________ changes.

Because the Internet lowers barriers to entry in most industries,it

In 1977,Kenneth H.Olsen,then president of Digital Equipment Corp.,announced that there was no reason for individuals to have a computer in their home.Long since disproven,this is an example of

Strategic groups are clusters of firms that share ________ strategies.

Boards of directors use outsiders to critique their strategy.This is necessary mostly to improve

________ tracks the evolution of environmental trends,sequences of events,or streams of activities.

Competitive Intelligence (CI)is a tool that can provide management with early warnings about both threats and opportunities.

In the five-forces model,conditions under which a supplier group can be powerful include all of the following 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?