Management 411 Test Banks Questions and Answers

As a rule of thumb, the stronger the five forces, the higher the industry's profit potential, which causes the industry to become less attractive for competitors. (T/F?) - -False -The core competencies of a firm are determined by the interplay of its tangible resources and intangible capabilities. (T/F?) - -true -According to the resource-based view, a firm that differentiates itself from its competitors through its personalized approach to customer service is likely to sustain its competitive advantage for a long time. (T/F?) - -true -In recent years a growing number of U.S. consumers have become more health-conscious about what they eat. According to the PESTEL Framework this trend could best be classified as a ________ trend. A) sociocultural B) healthy eating C) political D) legal - -A -According to Porter's Five Forces approach, the overall goal of applying the Five Forces analysis to an industry is to make a judgment about its A) overall attractiveness. B) revenue streams. C) future volatility. D) market share. - -A -In nearly every case