Chapter 3 MGMT 449 || All Questions Answered Correctly.
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Chapter 3 MGMT 449
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Chapter 3 MGMT 449
A company's "macroenvironment" refers to correct answers C) all the relevant forces and factors outside a company's boundaries-general economic conditions,
population demographics, societal values and lifestyles, technological factors, governmental legislation
and regulation, and closer to home, ...
Chapter 3 MGMT 449 || All Questions Answered Correctly.
A company's "macroenvironment" refers to correct answers C) all the relevant forces and factors
outside a company's boundaries-general economic conditions,
population demographics, societal values and lifestyles, technological factors, governmental
legislation
and regulation, and closer to home, the industry and competitive arena in which it operates.
Which one of the following is not part of a company's macroenvironment? correct answers E)
The company's resource strengths, resource weaknesses, and competitive capabilities
Which of the following is not a major question to ask in thinking strategically about industry and
competitive
conditions in a given industry? correct answers A) How many companies in the industry have
good track records for revenue growth and profi tability?
Thinking strategically about industry and competitive conditions in a given industry involves
evaluating
such considerations as correct answers A) the forces driving change in the industry.
B) the dominant economic features of the industry in which the company operates.
C) the kinds of competitive forces industry members are facing and the strength of each
competitive
force.
D) the key factors infl uencing future competitive success in the industry.
E) All of the above.
Which of the following is not a factor to consider in identifying an industry's dominant economic
features? correct answers D) Strength of driving forces and competitive forces
Which of the following is not a relevant consideration in identifying an industry's dominant
economic
features? correct answers C) How many strategic groups the industry has and which ones are
most profi table and least profi table
The state of competition in an industry is a function of correct answers A) the competitive
pressures associated with the market maneuvering and jockeying for buyer patronage
that goes on among rival fi rms in the industry.
B) competitive pressures coming from the attempts of companies in other industries attempting
to win
buyers over to their substitute products.
C) competitive pressures associated with the threat of new entrants into the marketplace.
D) competitive pressures associated with the bargaining power of suppliers and customers.
E) All of these.
The nature and strength of the competitive forces that prevail in an industry are generally a joint
product
, of correct answers A) the pressures induced by the market maneuvering and jockeying for buyer
patronage that goes on
among rival sellers in the industry.
B) the threat that fi rms outside the industry will decide to enter the market.
C) the attempts of companies in other industries to win buyers over to their own substitute
products.
D) competitive pressures stemming from the bargaining power of both suppliers and buyers.
E) All of these.
Which of the following is not one of the five typical sources of competitive pressures? correct
answers A) The power and infl uence of industry driving forces
The most powerful of the fi ve competitive forces is usually correct answers B) the competitive
pressures associated with the market maneuvering and jockeying for buyer patronage
that goes on among rival sellers in the industry.
Typically, the weakest of the five competitive forces in an industry is/are: correct answers A) the
threat posed by potential new entrants.
B) the bargaining power and leverage that suppliers are able to exercise.
C) the competitive pressures that stem from the ready availability of attractively-priced substitute
products.
D) the bargaining power and leverage that buyers are able to exercise.
E) None of the above is typically weakest.
Using the fi ve-forces model of competition to determine what competition is like in a given
industry
involves correct answers A) building the picture of competition in three steps: (1) identifying the
specifi c competitive pressures
associated with each of the fi ve competitive forces; (2) evaluating how strong the pressures
comprising
each competitive force are; and (3) determining whether the collective impact of all fi ve
competitive
forces is conducive to earning attractive profi ts.
What makes the marketplace a competitive battlefi eld is correct answers B) the constant
jockeying of industry members to strengthen their standing with buyers and win a
competitive edge over rivals.
Competitive jockeying and market maneuvering among industry rivals correct answers E) is
ever-changing as fresh offensive and defensive moves are initiated and as rivals emphasize fi rst
one
mix of competitive weapons and tactics and then another.
Factors that cause the rivalry among competing sellers to be weak include correct answers B)
rapid growth in buyer demand and high buyer switching costs.
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