CMP8.TestW7

Which of the following is NOT considered an internal factor affecting an organization?

• Organizational culture

• Employees

• Competitors

• Management systems

In an open system model, what are considered as outputs?

• Raw materials and labor

• Financial resources

• Products and services

• Competitors and regulations

Technological advances affect organizations by:

• Lowering the barriers to entry for competitors

• Reducing the need for skilled labor

• Creating new products, services, and methods of production

• Eliminating the need for strategic planning

The competitive environment is most intense when:

• Suppliers have significant bargaining power

• There are high barriers to entry for new firms

• There are many substitutes for a company's products or services

• Customers are loyal and unlikely to switch brands

Which of the following combinations can result in a worst-case scenario?

• Few entry barriers, high industry growth

• High entry barriers, low industry growth

• Few entry barriers, low industry growth

• High entry barriers, high industry growth

Which of the following external factors is most likely to directly influence the introduction of new government regulations for a business?

• Technological advancements

• Political and legal environments

• Demographic changes

• Economic fluctuations

Strategic maneuvering refers to an organization's ability to:

• Avoid external environmental changes by remaining static.

• Manipulate its internal environment for competitive advantage.

• Adapt its strategies to overcome threats and capitalize on new opportunities.

• Ignore competitive pressures in order to focus solely on internal matters.

Which of the following is an example of a substitute product in Porter's Five Forces model?

• A product that is offered by a direct competitor.

• A product that increases the value of another product when used together.

• A product that serves as an alternative and poses a potential threat to the original product.

• A product that is heavily regulated by government agencies.