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Exam 2: The External Environment Opportunities, Threats, Industry Competition, and Competitor Analysis E

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Question 1

Multiple Choice

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The likelihood of entry of new competitors is affected by ____ and ____.

A) barriers to entry, expected retaliation of current industry organizations
B) the power of existing suppliers, buyers
C) the profitability of the industry, the market share of its leading firm
D) the demand for the product, the profitability of the competitors

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

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Question 2

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The large expenditures on advertising by firms such as Procter & Gamble and Colgate-Palmolive is an example of what kind of barrier to entry?

A) Access to distribution channels.
B) Capital requirements.
C) Economies of scale.
D) Product differentiation.

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

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Question 3

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Mighty Green, a residential lawn chemical manufacturer, is committed to gaining market share in its industry. Mighty Green

The political/legal segment of the general environment is the arena in which organizations and interest groups compete for attention, resources and a voice in the laws and regulations guiding interactions among nations.

In recent times, businesspeople have become more confident in the ability of economists to provide valid and reliable predictions about the world's economic environment.

Global focusing is often used by firms with high levels of international operations who further increase their internationalization by focusing on global niche markets.

Explain why it is important for organizations to analyze and understand the external environment.

The use of the Internet by Netflix to collect data on customer preferences is an example of

Compared with the general environment, the industry environment has a more indirect effect on the firm's strategic competitiveness and ability to earn above-average returns.

Age structure, geographic distribution, income distribution, interest rates, and process innovations are all elements of concern when studying the demographic segment of the general environment.

The process of competitor analysis should examine the competitor's future objectives, current strategy, assumptions, and capabilities.

When firms analyze the external environment, they typically have complete and unambiguous data.

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

To successfully deal with today's external environment and to achieve strategic competitiveness, firms must be aware and fully understand the different segments of that environment.

DWK Foods has developed a line of cookies and candies sweetened exclusively with organic honey. Although DWK is selling some of the products over the Internet, in order to gain economies of scale, the products must be sold in retail outlets. The main barrier to entry DWK is likely to encounter here is

Which of the following represents a competitive intelligence practice that is both legal and ethical?

Global warming and energy consumption are aspects of the technological environment segment that firms should monitor.

Exit barriers to a firm include all of the following EXCEPT

Describe the seven segments of the general environment.

Early adopters of new technology often achieve higher market shares and higher returns than later adopters of the technology.