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

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Question 61

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Golden Lotus, an exercise club targeting healthy individuals over 50, is located in a fast-growing city in the Southwest. Which of the following factors that may have an effect on the success of Golden Lotus is the most directly controllable by the company?

A) the socio-cultural environment
B) the demographics of the environment
C) the economy of the local area
D) the power of the customers/buyers

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Question 62

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One broad theme of the Chapter 2 Strategic Focus is that traditional sources of media (paper, tape, and film) are facing powerful substitutes in the form of digital media.

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Question 63

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The observation that in China, even though car sales surged 37% in 2010, it is expected that by 2015 they will reach production overcapacity and have a glut of extra cars is an aspect of the ____ segment of the general environment.

Exit barriers to a firm include all of the following EXCEPT

Case Scenario 1: The Boys and Girls Club. The Boys and Girls Club (BGC) is a national non-profit organization geared to provide America's youth with the tools and skills they need to become healthy adults, responsible citizens, and effective leaders. By bringing parents, neighbors, educators, and civic leaders together with our youth, BGC believes it can instill these crucial life lessons at an age when they're most needed. The national organization is headquartered in Atlanta, GA, and serves as a service hub for over 3,700 club locations around the U.S. Each local club is directed by a volunteer board of directors and staffed by professional youth development workers (usually including an executive director, a program director, and an arts director) and many volunteers who just enjoy working with young people and want to make a difference in their lives. While affiliated with the national center, each local BGC is locally funded. -(Refer to Case Scenario 1) The purpose of the Boys and Girls Club (BGC) is to instill in youth the tools and skills needed to become healthy adults, responsible citizens, and effective leaders. If the BGC were to initiate programs about women's issues, women in the workforce, workforce diversity, and changes in work and career preferences, it would be contributing to an understanding of which segment of the general environment? a) Demographic b) Sociocultural c) Economic d) Technological

The competitor analysis is the final part of the external environment analysis and focuses on each company against which a firm directly competes (e.g., Coca-Cola and PepsiCo, Home Depot and Lowe's, and Airbus and Boeing).

Because of threats and risks in the global environment, some firms choose to take a more cautious approach by

Contrary to popular belief, the global segment of the external environment does not provide many opportunities for firms such as H.J. Heinz, SAB Miller, and Citigroup, all of which recently experienced low growth and profits coming from emerging markets.

Aardvark Corp. has three products. Two products together make up two-thirds of revenues and constitute 50 percent of company profits. Aardvark's third product makes up one third of sales. With profitability far above the industry average, this product is responsible for one half of Aardvark's profits. Which of the following statements regarding assessment of the general environment is accurate for Aardvark?

Any competitor intelligence practice that is legal is also ethical.

When Philip Morris International studies the cigarette tax policies of various nations, it is engaged in the forecasting component of the environmental analysis process.

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

Buyers are powerful when

It is uncommon for a large firm to receive a majority of revenues from outside its home country.

A certain marble quarry provides a unique type of marble that is richly colored and strikingly veined. It has been used for churches and public buildings throughout the world. The architect of a new headquarters for a prestigious Fortune 500 firm has specified the use of this marble, and this marble only, for this project. Which of the following statements is most likely to be true?

Which of the following would be an example of the application of next major technological opportunity for organizations?

The objective of assessing the external environment is to determine the timing and importance of the effects of environmental changes and trends on the strategic management of the firm.

Case Scenario 1: The Boys and Girls Club. The Boys and Girls Club (BGC) is a national non-profit organization geared to provide America's youth with the tools and skills they need to become healthy adults, responsible citizens, and effective leaders. By bringing parents, neighbors, educators, and civic leaders together with our youth, BGC believes it can instill these crucial life lessons at an age when they're most needed. The national organization is headquartered in Atlanta, GA, and serves as a service hub for over 3,700 club locations around the U.S. Each local club is directed by a volunteer board of directors and staffed by professional youth development workers (usually including an executive director, a program director, and an arts director) and many volunteers who just enjoy working with young people and want to make a difference in their lives. While affiliated with the national center, each local BGC is locally funded. -(Refer to Case Scenario 1) Why would attention focused on victims of natural disasters be a threat to the BGC?

Rivalry between Dell, Hewlett-Packard, and other computer manufacturers is intense in part because

Describe the seven segments of the general environment.