ANS F Bargaining power depends on the strength of the supplier Will the

Ans f bargaining power depends on the strength of the

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PTS: 1 REF: p. 83 OBJ: 3-3 TYPE: D NAT: Analytic | Economic Environments 22. Change may be the most important source of opportunities for entrepreneurial firms. PTS: 1 REF: p. 74 OBJ: 3-1 TYPE: C NAT: Analytic | Economic Environments 23. Economic trends include the rate of inflation, interest rates and even currency exchange rates, all of which promote or discourage business growth. PTS: 1 REF: p. 81 OBJ: 3-3 TYPE: C NAT: Analytic | Economic Environments 24. Research has shown that most entrepreneurs generate their business ideas by searching external sources of ideas. PTS: 1 REF: p. 72 OBJ: 3-1 TYPE: C NAT: Analytic | Value Creation 25. Resources can be either tangible or intangible in nature. PTS: 1 REF: p. 85 OBJ: 3-3 TYPE: D NAT: Analytic | Economic Environments 26. Evaluation of the general environment is appropriate only for large firms that have a corporate staff to manage the process. PTS: 1 REF: p. 82 OBJ: 3-3 TYPE: C NAT: Analytic | Economic Environments27. A competitive advantage is a resource or capability that makes a firm stronger than its rivals. PTS: 1 REF: p. 86 OBJ: 3-3 TYPE: D NAT: Analytic | Economic Environments
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28. A SWOT analysis provides a concise overview of a firm's strategic situation. PTS: 1 REF: p. 86 OBJ: 3-3 TYPE: D NAT: Analytic | Value Creation 29. In practice, a SWOT analysis is usually based on a dynamic view of the firm and its situation. PTS: 1 REF: p. 86 OBJ: 3-3 TYPE: C NAT: Analytic | Value Creation 30. Following a cost-based strategy can give a small firm a competitive advantage. PTS: 1 REF: p. 89 OBJ: 3-4 TYPE: D NAT: Analytic | Value Creation 31. A cost-based strategy requires a firm to create and sustain differentiation in the marketplace. PTS: 1 REF: p. 89 OBJ: 3-4 TYPE: C NAT: Analytic | Value Creation 32. A differentiation-based strategy usually does notlead to a competitive advantage in business. PTS: 1 REF: p. 89 OBJ: 3-4 TYPE: C NAT: Analytic | Value Creation 33. A firm that is able to create and sustain product and/or service differentiation will most likely be a successful performer in the marketplace.
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