Analyzing The External Environment Of The Firm Creating Competitive Advantages

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Strategic Management Creating Competitive Advantages
Analyzing the External Environment of the Firm Creating Competitive Advantages
Assessing the Internal Environment of the Firm
Recognizing a Firm's Intellectual Assets Moving beyond a Firm's Tangible Resources
Business-Level Strategy Creating and Sustaining Competitive Advantages
Corporate-Level Strategy Creating Value through Diversification
International Strategy Creating Value in Global Markets
Entrepreneurial Strategy and Competitive Dynamics
Strategic Control and Corporate Governance
Creating Effective Organizational Designs
Strategic Leadership Creating a Learning Organization and an Ethical Organization
Managing Innovation and Fostering Corporate Entrepreneurship

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Question 1

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Environmental scanning and competitor intelligence provide important inputs for forecasting activities.

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Question 2

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True/False

Perceptual acuity, according to Ram Charan, is the ability to know for certain what will happen in the future.

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Question 3

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True/False

Ted Turner saw the potential of 24-hour news before anyone else. This is an example of perceptual acuity.

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Question 4

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True/False

Environmental monitoring deals with tracking changes in environmental trends that are often uncovered during the environmental scanning process.

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Question 5

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Competitive intelligence generally does not benefit very much from gathering information on competitors from sources in the public domain.

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Question 6

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Even with all the advances in recent years, forecasting is typically considered more of an art than a science and it is of little use in generating accurate predictions.

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Question 7

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Scenario analysis is a superficial approach to forecasting that seeks to explore possible developments that many only be connected to the past.

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Question 8

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SWOT analysis is useful in part because it obliges the firm to act proactively by putting an emphasis on identifying opportunities and threats that constrain the action choices a firm mightmake because of its internal and external environmental scan.

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Question 9

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In the SWOT framework, the Strengths and Weaknesses are external environmental factors to consider.

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Question 10

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In the SWOT framework, Opportunities and Threats are environmental conditions internal to the firm.

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Question 11

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Although changes in the general environment may often adversely or favorably impact a firm, they seldom alter an entire industry.

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Question 12

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A major sociocultural trend in the United States is the increased number of women in the workforce that has increased the need for business clothing but decreased the demand for bakingproduct staples.

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Question 13

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Technological innovations can create entirely new industries and alter the boundaries of industries.

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Question 14

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The Porter five-forces model is designed to help us understand how social attitudes and cultural values impact U.S. businesses.

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Question 15

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The five-forces model helps to determine both the nature of competition in an industry and the profit potential for the industry.

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Question 16

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In some industries, low switching costs can act as an important barrier to entry.

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Question 17

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In most industries, new entrants will not be a threat because the Internet lowers entry barriers.

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Question 18

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The Internet and digital technologies suppress the bargaining power of buyers by providing them with more information to make buying decisions.

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Question 19

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Reintermediation is responsible for an overall reduction in business opportunities.

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Question 20

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Two of the key inputs to developing forecasts discussed in the text are

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environmental scanning and stakeholder identification.

assessing internal strengths and environmental scanning.

environmental scanning and competitive intelligence.

environmental scanning and a SWOT analysis.

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