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ch2 - Chapter 2The External Environment Opportunities...

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Chapter 2—The External Environment: Opportunities, Threats, Industry Com- petition, and Competitor Analysis TRUE/FALSE 1. The final result of successful strategic competitiveness is above-average returns. ANS: T PTS: 1 DIF: Medium REF: 34 OBJ: 02-01 TYPE: comprehension NOT: AACSB: Business Knowledge & Analytical Skills | Management: Creation of Value | Dierdorff & Rubin: Managing strategy & innovation 2. The external environment facing business stays relatively constant over time. ANS: F PTS: 1 DIF: Easy REF: 34-35 OBJ: 02-01 TYPE: comprehension NOT: AACSB: Business Knowledge & Analytical Skills | Management: Environmental Influence | Dierdorff & Rubin: Managing the task environment 3. Demographic, economic, political/legal, sociocultural, technological, and global are the six elements comprising the industry environment. ANS: F PTS: 1 DIF: Hard REF: 35 (Table 2.1) OBJ: 02-02 TYPE: knowledge NOT: AACSB: Business Knowledge & Analytical Skills | Management: Environmental Influence | Dierdorff & Rubin: Managing the task environment 4. Firms can directly control the elements of the six segments of the general environment. ANS: F PTS: 1 DIF: Easy REF: 35 OBJ: 02-01 TYPE: comprehension NOT: AACSB: Business Knowledge & Analytical Skills | Management: Environmental Influence | Dierdorff & Rubin: Managing the task environment 5. An analysis of the general environment is usually focused on the future. ANS: T PTS: 1 DIF: Medium REF: 36 OBJ: 02-01 TYPE: comprehension NOT: AACSB: Business Knowledge & Analytical Skills | Management: Environmental Influence | Dierdorff & Rubin: Managing the task environment 6. External environmental analysis should be conducted annually. ANS: F PTS: 1 DIF: Medium REF: 37 OBJ: 02-03 TYPE: comprehension NOT: AACSB: Business Knowledge & Analytical Skills | Management: Environmental Influence | Dierdorff & Rubin: Managing the task environment 7. When firms analyze the external environment, they typically have complete and unambiguous data. ANS: F PTS: 1 DIF: Medium REF: 37 OBJ: 02-03 TYPE: comprehension
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NOT: AACSB: Business Knowledge & Analytical Skills | Management: Environmental Influence | Dierdorff & Rubin: Managing decision-making processes 8. Boundary spanners are organizational employees in positions to interact with external constituents. ANS: T PTS: 1 DIF: Medium REF: 37-38 OBJ: 02-03 TYPE: knowledge NOT: AACSB: Business Knowledge & Analytical Skills | Management: Environmental Influence | Dierdorff & Rubin: Managing decision-making processes 9. Monitoring involves the development of a forecast of what might happen at a future point in time. ANS: F PTS: 1 DIF: Easy REF: 38 OBJ: 02-03 TYPE: knowledge NOT: AACSB: Business Knowledge & Analytical Skills | Management: Strategy | Dierdorff & Ru- bin: Managing decision-making processes 10. Without monitoring, a firm is left with a mass of data of unknown relevance. ANS: F PTS: 1 DIF: Medium REF: 38 OBJ: 02-03 TYPE: knowledge NOT: AACSB: Business Knowledge & Analytical Skills | Management: Strategy | Dierdorff & Ru- bin: Managing decision-making processes 11. Using sophisticated mathematical models, producing accurate forecasts of demand for products is fairly straightforward.
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