Exam (elaborations)
Business And Its Environment 7th Edition by Baron - Test Bank
- Course
- Institution
Test Bank For Business And Its Environment 7th Edition by Baron Complete Test Bank
[Show more]
Seller
Follow
ExamsExpert
Reviews received
Content preview
, Copyright ©2013 Pearson Education, Inc. publishing as Prentice HallChapter One:
Market and Nonmarket Environments
True/False Questions:
1) Firms have more control over their future in their nonmarket environment than they have
in the markets in which they operate.
Answer: False
Page reference: 1
Difficulty: Easy
AACSB:
Learning Outcome: Describe the components of the management environment
2) The long-run sustainability of competitive advantage requires managing effectively in the
nonmarket environment.
Answer: True
Page reference: 1
Difficulty: Easy
AACSB:
Learning Outcome: Describe the components of the management environment
3) Effective management in the market environment is sufficient for superior performance of the
firm over its competitors.
Answer: False
Page reference: 2
Difficulty: Moderate
AACSB:
Learning Outcome: Describe the components of the management environment
4) The nonmarket environment is characterized by the social, political, and legal arrangements
that structure interactions outside of, but in conjunction, with markets and private agreements.
Answer: True
1
All information provided for reference only
Join us on Facebook.com/thetopgrades
, Copyright ©2013 Pearson Education, Inc. publishing as Prentice Hall
Page reference: 2
Difficulty: Easy
AACSB:
Learning Outcome: Describe the components of the management environment
5) Activities in the nonmarket environment may be voluntary, as when the firm cooperates with
government officials or an environmental group, or involuntary, as in the case of government
regulation or a boycott of a firm’s product led by an activist group.
Answer: True
Page reference: 2
Difficulty: Moderate
AACSB:
Learning Outcome: Describe the components of the management environment
6) Nonmarket issues high on firms’ agendas include environmental protection, health and safety,
regulation and deregulation, intellectual property protection, international trade policy, antitrust as
well as other issues such as human rights.
Answer: True
Page reference: 2
Difficulty: Easy
AACSB:
Learning Outcome: Describe the components of the management environment
7) Managers do not participate in the implementation of nonmarket strategies.
Answer: False
Page reference: 3
Difficulty: Easy
AACSB:
Learning Outcome: Describe the components of the management environment
8) In formulating nonmarket strategies, managers may draw on the expertise of lawyers,
communications specialists, Washington representatives, and community relations specialists.
Answer: True
2
All information provided for reference only
Join us on Facebook.com/thetopgrades
, Copyright ©2013 Pearson Education, Inc. publishing as Prentice Hall
Page reference: 3
Difficulty: Easy
AACSB:
Learning Outcome: Describe the components of the management environment
9) In the nonmarket environment, legislation, regulation, administrative decisions, and public
pressure are the result of competition involving individuals, activists, interest groups, and firms.
Answer: True
Page reference: 4
Difficulty: Easy
AACSB:
Learning Outcome: Describe the components of the management environment
10) In the market environment, strategies are intermediated by public and private institutions,
whereas in the nonmarket environment, strategies are intermediated by markets.
Answer: False
Page reference: 4
Difficulty: Moderate
AACSB:
Learning Outcome: Describe the components of the management environment
11) The nonmarket environment of a firm is characterized by four I’s: independence, individuality,
ideas and income.
Answer: False
Page reference: 4
Difficulty: Easy
AACSB:
Learning Outcome: Describe the components of the management environment
12) Information is the basic unit of analysis and the focus of nonmarket action.
Answer: False
Page reference: 4
3
All information provided for reference only
Join us on Facebook.com/thetopgrades
The benefits of buying summaries with Stuvia:
Guaranteed quality through customer reviews
Stuvia customers have reviewed more than 700,000 summaries. This how you know that you are buying the best documents.
Quick and easy check-out
You can quickly pay through credit card or Stuvia-credit for the summaries. There is no membership needed.
Focus on what matters
Your fellow students write the study notes themselves, which is why the documents are always reliable and up-to-date. This ensures you quickly get to the core!
Frequently asked questions
What do I get when I buy this document?
You get a PDF, available immediately after your purchase. The purchased document is accessible anytime, anywhere and indefinitely through your profile.
Satisfaction guarantee: how does it work?
Our satisfaction guarantee ensures that you always find a study document that suits you well. You fill out a form, and our customer service team takes care of the rest.
Who am I buying these notes from?
Stuvia is a marketplace, so you are not buying this document from us, but from seller ExamsExpert. Stuvia facilitates payment to the seller.
Will I be stuck with a subscription?
No, you only buy these notes for $31.53. You're not tied to anything after your purchase.
Can Stuvia be trusted?
4.6 stars on Google & Trustpilot (+1000 reviews)
73314 documents were sold in the last 30 days
Founded in 2010, the go-to place to buy study notes for 14 years now