.A firm’s external environment is divided into various subcategories that includeHintA.remote, social, and operationsB.industry, technology, and internalC.political, social, and industryD.remote, industry, and operating2.When managers consider the general availability of credit, the level of disposable income, and the propensity of people to spend, they are considering what factors?HintA.Social factorsB.Business factorsC.Political factorsD.Economic factors3.This factor considers or provides creative adaptations that can suggest possibilities for new products or for improvements in existing products or in manufacturing and marketing techniques.HintA.Industry factorB.Operations factorC.Sales factorD.Technological factor.The quasi-science of anticipating environmental and competitive changes and estimating their importance to an organizations operation refers toHintA.environmental scanningB.SWOT analysisC.business analysisD.technological forecasting5.This term refers to the relationships among human beings and other living things and the air, soil, and water that supports them.HintA.SocietyB.Eco-efficiencyC.Going greenD.Ecology6.Economies of scale in an industry refers toHintA.savings that companies within the industry achieve due to increased volumeB.declining average short run costs per unitC.improved contractual agreements with suppliers in the near termD.decreased barr
1.A firm’s external environment is divided into various subcategories that includeHintA.remote, social, and operationsB.industry, technology, and internalC.political, social, and industryD.remote, industry, and operating2.When managers consider the general availability of credit, the level of disposable income, and the propensity of people to spend, they are considering what factors?HintA.Social factorsB.Business factorsC.Political factorsD.Economic factors3.This factor considers or provides creative adaptations that can suggest possibilities for new products or for improvements in existing products or in manufacturing and marketing techniques.HintA.Industry factorB.Operations factorC.Sales factorD.Technological factor.The quasi-science of anticipating environmental and competitive changes and estimating their importance to an organizations operation refers toHintA.environmental scanningB.SWOT analysisC.business analysisD.technological forecasting5.This term refers to the relationships among human beings and other living things and the air, soil, and water that supports them.HintA.SocietyB.Eco-efficiencyC.Going greenD.Ecology6.Economies of scale in an industry refers toHintA.savings that companies within the industry achieve due to increased volumeB.declining average short run costs per unitC.improved contractual agreements with suppliers in the near termD.decreased barriers to entry to new firms attempting to enter the industry7.This term refers to descriptive characteristics that can be used to differentiate groups of present or potential customers.HintA.PsychographicsB.Buyer behaviorsC.GeographicsD.DemographicsThis information is used to explain or predict some aspect of customer behavior with regard to a product or service. Information such as usage rate, benefits sought, and brand loyalty can provide significant aid in the design of more accurate and profitable strategies.HintA.Geographic informationB.Demographic informationC.Psychographic informationD.Buyer behavior9.Because the quantity, quality, price, and accessibility of financial, human, and material resources are rarely ideal, assessment of suppliers and creditors is critical to an accurate evaluation of which of the firm’s external environments?HintA.Industry environmentB.Business environmentC.Remote environmentD.Operating environment10.What Human Resource component within its operating environment is a major element of a firm’s ability to satisfy its personnel needs?HintA.Employment ratesB.Benefit packagesC.Labor unionD.Reputation11.A firm’s access to needed personnel is affected primarily by four factors that includeHintA.the firm’s size and location, competitive hourly rates, availability of talented people, and its relationship with labor unionsB.the firm’s reputation as an employer, national employment rates, community involvement, and overall employee satisfactionC.the firm’s size and location, local employment rates, labor unions to assist with labor needs, and trained potential employeesD.the firm’s reputation as an employer, local employment rates, the ready availability of people with the needed skills, and its relationship with labor unions12.This element of employment or labor represents the workers in their negotiations with employers through the process of collective bargaining.HintA.Human ResourcesB.Hiring agentC.Wage & Hours AssociationD.Labor unions13.The environment that is typically subject to much influence by the firm isHintA.externalB.industryC.remoteD.operating14.Which of these is a determinant of entry, according to Porter?HintA.Presence of substitute inputB.Ability to backward integrateC.Exit barriersD.Economies of scale15.Which threat of entry creates a barrier by forcing entrants to spend heavily to overcome customer loyalty?HintA.Economies of scaleB.Powerful sellersC.Powerful buyersD.Product differentiation16.This group is considered powerful if it is not obliged to contend with other products for sale to the industry.HintA.BuyersB.RetailersC.WholesalersD.Suppliers17.This is considered a collection of firms that offer similar products or services that customers perceive to be substitutable for one another..HintA.MonopolyB.OligopolyC.EnvironmentD.Industry18.This environment in the strategic planning process comprises factors in the competitive situation that affect a firm’s success in acquiring needed resources or in profitably marketing its goods and services.HintA.Remote environmentB.Industry environmentC.Business environmentD.Operating environment
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