[MGMT 339] Week 3 - Review on Planning

[MGMT 339] Week 2 Review on Planning

Multiple Choice

According to Porter's five force model, ______ refers to the power that customers have over the firms operating in an industry.

• supplier power

• threat of new entrants

• buyer power

• intensity of rivalry

• threat of substitute products

Multiple Choice

Lobbying efforts by interest groups and progress on the passage of laws are examples of the _______ component of the general environment.

• social

• economical

• technological

• political

• international

Multiple Choice

_______ is a strategy that emphasizes making an organization more competitive by targeting a particular customer group.

• Focus

• Differentiation

• Diversification

• Cost leadership