Practice Test Chapter 4

Practice Test Chapter 4 - Business 3215 Principles of...

Info iconThis preview shows pages 1–3. Sign up to view the full content.

View Full Document Right Arrow Icon
Business 3215 – Principles of Entrepreneurship Practice Self-Test CHAPTER 4 Industry and Competitor Analysis For New Ventures MULTIPLE-CHOICE QUESTIONS Industry Analysis Answer: A Easy Page: 76 1. Business research that focuses on the potential of an industry is called: A. industry analysis B. challenger analysis C. business analysis D. market analysis E. competitor analysis Answer: E Easy Page: 76 2. Melinda Barnes recently started a new firm in the fashion industry. Prior to starting her firm, she spent considerable time doing research on the potential of the fashion industry. The research that Melinda was doing is called: A. production analysis B. market analysis C. competitor analysis D. participant analysis E. industry analysis Answer: D Easy Page: 76 3. A detailed analysis of a firm’s competitors is called a(n): A. business analysis B. industry analysis C. strategic analysis D. competitor analysis E. market analysis Answer: B Medium Page: 76 4. Twice a year, Joel Baker, the founder of an electronics games startup, does a detailed analysis of his firm’s competitors. This analysis is called: A. challenger analysis B. competitor analysis
Background image of page 1

Info iconThis preview has intentionally blurred sections. Sign up to view the full version.

View Full DocumentRight Arrow Icon
C. strategic analysis D. participant analysis E. industry analysis Answer: A Medium Page: 77 5. Which of the following is an example of a firm level opposed to an industry level factor? A. firm reputation B. bargaining power of suppliers C. threat of new entrants D. threat of substitutes E. bargaining power of buyers Answer: D Medium Page: 77 6. According to the textbook, which of the following statements is accurate regarding the importance of industry versus firm-specific factors as it pertains to firm profitability? A. virtually all the studies have concluded that industry-specific factors are more important than firm-specific factors B. virtually all the studies have concluded that industry-specific factors are of almost no importance C. virtually all the studies have concluded that firm-specific factors are of almost no important D. virtually all the studies have concluded that firm-specific factors are more important than industry-specific factors E. virtually all the studies have concluded that firm-specific factors and industry-specific factors are of equal importance Answer: B Hard Page: 77 7. In various studies, researchers have found that from __________ in the variation in firm profitability is directly attributable to the industry in which a firm competes. A. 2 to 15 percent B. 8 to 30 percent C. 16 to 42 percent D. 24 to 60 percent E. 34 to 70 percent Answer: E Hard Page: 77 8. According to the textbook, in a recent study Harvard University, professor Michael Porter found that __________ of the variation in firm profitability is attributable to stable industry effects. A.
Background image of page 2
Image of page 3
This is the end of the preview. Sign up to access the rest of the document.

Page1 / 15

Practice Test Chapter 4 - Business 3215 Principles of...

This preview shows document pages 1 - 3. Sign up to view the full document.

View Full Document Right Arrow Icon
Ask a homework question - tutors are online