TEST BANK For Strategic Management, 6th Edition 2024 By Rothaermel Frank, 100% Verified Chapters 1 - 12, Complete Newest Version | Already Passed.

TEST BANK For Strategic Management, 6th Edition 2024 By
Rothaermel Frank, 100% Verified Chapters 1 - 12, Complete
Newest Version | Already Passed.


QUESTION:

The environmental analysis that looks at the natural environment plus four aspects of the societal environment
is called the - Correct Ans- STEEP Analysis (Ch 4)




QUESTION:
Five years ago, my company's market share was at 5%. Today it is at 10%. In carrying out my strategic planning
for next five years, I will forecast my market share at the end of that period will be 15%. This common form of
predicting the future is called - Correct Ans- trend extrapolation (Ch 4)




QUESTION:
An appropriate substitute for a Coke would be _____________ - Correct Ans- a candy bar (Ch 4)




QUESTION:
Which of the following products/services would BEST suggests a global industry approach? - Correct Ans-
soccer ball (Ch 4)




QUESTION:
Environmental uncertainty is a combination of - Correct Ans- Degree of complexity and degree of change (Ch 4)




QUESTION:
When using the Delphi Technique, the job of the experts is to _____________: - Correct Ans- provide as
accurate a picture of the future as possible. (Ch 4)




QUESTION:
The aging of the U.S. population would represent a(n) _______________________ for a business seeking to
understand their business environment - Correct Ans- sociocultural force (Ch 4)


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,QUESTION:
In preparing an EFAS, the analyst looks at _________________. - Correct Ans- opportunities and threats (Ch 4)




QUESTION:
A company that tends to operate in at least two industries, with one or more industries being stable and one or
more being variable would be considered a(n): - Correct Ans- analyzer (Ch 4)




QUESTION:
Having economies of scale as a key success factor in an industry usually represents _____________. - Correct
Ans- A barrier to entry for a small start-up hoping to break into the industry (Ch 4)




QUESTION:
If Wal-Mart were to decide to enter the automobile distributor business, this would represent a monumental
shift in that industry and over time would fundamentally change its competitive landscape. Wal-Mart's entry
into this market would represent a ____________________ originating from the ________________
environment for the automobile distributor's industry - Correct Ans- driving force, task (Ch 4)




QUESTION:
Gillette puts a great deal of emphasis on developing new products with an eye toward making sure its current
product is replaced as industry leader by its new product. As such, Gillette would be classified as a(n): - Correct
Ans- prospector (Ch 4)




QUESTION:
The primary protection offered by cost leadership against the relative powers of both suppliers and buyers is -
Correct Ans- It keeps cost down.? (Ch 4)




QUESTION:
5. Congress passed the Clean Air Act in response to the public's newfound environmental concerns and outrage
over what it (the public) perceived to be unrestrained corporate pollution. In response, a number of industries
such as utilities and automobile manufacturers have had to make dramatic changes in the technology used in
the creation and operation of their products. These industries are responding to a change in the


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,________________ environment that was brought about by changes in the ________________ environment -
Correct Ans- e. political-legal, sociocultural (Ch 4)




QUESTION:
6. With the "graying of America," a number of industries such as travel (i.e.), golf, and assisted living
communities have experienced tremendous growth. These companies are capitalizing on the aging of the
American population by closely monitoring the changes in the ________________ environment. - Correct Ans-
d. sociocultural (Ch 4)




QUESTION:
7. When the pressure for coordination is strong and the pressure for local responsiveness is weak for
multinational corporations within a particular industry, the industry will tend to become - Correct Ans- a.
global. (Ch 4)




QUESTION:
8. You are tasked with developing a strategic plan for a high tech software company. While working your way
through the strategic planning process, it becomes obvious that the industry's future competitive environment
will be impossible to predict with any degree of accuracy. Your best option for completing your tasking would
be to use - Correct Ans- d. Delphi technique (Ch 4)




QUESTION:
9. Labor unions were formed specifically to increase the ____________________. - Correct Ans- b. bargaining
power of suppliers? (Ch 4)




QUESTION:
10. Rivalry among competitors is likely to be strongest when the industry is in the ____________ stage of its
lifecycle. - Correct Ans- c. mature (Ch 4)




QUESTION:
11. The comments section of the EFAS is where one notes: - Correct Ans- c. how the weight of an opportunity
or threat is estimated (Ch 4)




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, QUESTION:
12. With a limited marketing budget, I need to know which of my industry rivals I most need to concentrate my
negative advertising on. Generally, this will be the one(s) trying to get the same customers I'm trying to get,
and in pretty much the same way. One tool that I can use to make this determination would be: - Correct Ans-
a. a strategic group map (Ch 4)




QUESTION:
13. A high level of competition (rivalry) within an industry can be viewed as: - Correct Ans- e. all of the above




a. a barrier to entry

b. a sign that the industry is in the mature stage

c. a negative in assessing the attractiveness of the industry

d. a relatively expensive way of conducting business for industry participants (Ch 4)




QUESTION:
14. If I want to determine which products/services would be considered substitutes for the product/service
offered by a particular company, I would best consults its: - Correct Ans- d. business model (Ch 4)




QUESTION:
1. A board of directors that tends to approve, question, and make final decisions on mission, strategy, policies,
and objectives would be considered a(n) ________________ board. - Correct Ans- d. active participation (Ch 2)




QUESTION:
2. Stewardship theory is most applicable to a(n) ________________________director. - Correct Ans- b. inside
(Ch 2)




QUESTION:
3. In a legal sense, the board of directors is required to _____________ the affairs of the corporation but not to
________________ them. - Correct Ans- c. monitor, manage (Ch 2)




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