Environmental Scanning and Industry Analysis

Internal analysis enables a firm to determine what the firm

• can do

• should do.

• will do.

• might do.

According to Porter's model, a strong or high force is likely to reduce profits and can be regarded as a(n)

• A. benefit.

• B. opportunity.

• C. advantage.

• D. threat.

Which societal force includes demographic trends?

• A. political-legal forces

• B. labor forces

• C. economic forces

• D. sociocultural forces

What is a set of business units or firms that 'pursue similar strategies with similar resources'?

• A. strategic group

• B. collective collaboration

• C. cooperative

• D. integral association

A formal program of gathering information on a company's competitors is referred to as

• A. statistical modeling.

• B. competitive intelligence.

• C. competitive strategy.

• D. quantitative forecasting.

Which of the following is not a major force in the societal environment?

• A. political-legal forces

• B. labor forces

• C. economic forces

• D. technological forces

Which is the largest age group of the current generations in all developed countries?

• A. Baby Boomers

• B. Woofies

• C. Silent Generation

• D. Gen X

Which of the following is not descriptive of external environmental scanning?

• A. used as a tool to ensure a corporation's long-term health

• B. used to monitor, evaluate, and disseminate information relevant to the organizational development of strategy

• C. used to identify major stockholders

• D. used as a tool for corporations to avoid strategic surprise

According to Porter's model, a low force can enable the company to earn greater profits and can be regarded as a(n)

• A. benefit.

• B. opportunity.

• C. advantage.

• D. threat.

Those variables that can affect significantly the overall competitive positions of companies within any particular industry are known as

• A. external strategic factors.

• B. internal strategic factors.

• C. matrix factors.

• D. key success factors.