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

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Question 31

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Competitive intelligence generally does not benefit very much from gathering information on competitors from sources in the public domain.

A) True
B) False

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Question 32

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The Internet heightens the threat of substitutes because it creates new ways to accomplish the same task.

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B) False

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Question 33

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In some industries,high switching costs can act as an important barrier to entry.

Product differentiation by incumbents act as an entry barrier because __________.

In the Five-Forces model,conditions under which a supplier group can be powerful include all the following EXCEPT:

Scenario planning is usually concerned with short-term forecasts.

Larger numbers of women entering the work force since the early 1970s is an example of ______.

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

Strategic groups consist of ________________.

Although changes in the general environment may often adversely or favorably impact a firm,they seldom alter an entire industry.

There is generally a weak relationship between equity markets (e.g.,New York Stock Exchange)and economic indicators.

All of the following are important elements of the political/legal segment of the general environment EXCEPT:

The Porter Five-Forces model is designed to help us understand how social attitudes and cultural values impact U.S.businesses. E. Porter has been the most commonly used analytical tool for examining the competitive environment. It describes the competitive environment in terms of five basic competitive forces.

The Internet is a leading component in the rising emergence of digital technology.

Even with all of the advances in recent years,forecasting is typically considered more of an art than a science and it is of little use in generating accurate predictions.

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

The opportunities and threats of a SWOT analysis refer to the internal conditions of the firm.

Rivalry will be most intense when there is a lack of differentiation or switching costs.

The Internet and digital technologies suppress the bargaining power of buyers by providing them with more information to make buying decisions.

Reintermediation is responsible for an overall reduction in business opportunities.