Quiz
Midterm 1.2
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Questions in this quiz (51)
1[blank_start]SWOT Analysis[blank_end] stands for “Strengths, Weaknesses, Opportunities and Threats”
- ASWOT Analysis
2SWOT Analysis stands for “[blank_start]Strengths[blank_end], [blank_start]Weaknesses[blank_end], [blank_start]Opportunities[blank_end] and [blank_start]Threats[blank_end]”
- AStrengths
- BWeaknesses
- COpportunities
- DThreats
3- [blank_start]Strengths[blank_end]: internal characteristics of a business that give it an advantage over others
- [blank_start]Weaknesses[blank_end]: internal characteristics of the business that place the business at a disadvantage relative to others
- [blank_start]Opportunities[blank_end]: elements in the environment that the business could exploit to its advantage
- [blank_start]Threats[blank_end]: elements in the environment that may result in trouble for the business- AStrengths
- BWeaknesses
- COpportunities
- DThreats
4- Strengths: [blank_start]internal[blank_end] characteristics of a business that give it an [blank_start]advantage[blank_end] over others
- Weaknesses: [blank_start]internal[blank_end] characteristics of the business that place the business at a [blank_start]disadvantage[blank_end] relative to others
- Opportunities: elements in the [blank_start]environment[blank_end] that the business could exploit to its [blank_start]advantage[blank_end]
- Threats: elements in the [blank_start]environment[blank_end] that may result in [blank_start]trouble[blank_end] for the business- Ainternal
- Badvantage
- Cinternal
- Ddisadvantage
- Eenvironment
- Fadvantage
- Genvironment
- Htrouble
5[blank_start]SWOT Analysis[blank_end] can be performed for a company, product, place, industry, or person
- ASWOT Analysis
6SWOT Analysis can be performed for a , , , , or
- Acompany
- Bproduct
- Cplace
- Dindustry
- Eperson
7Complete the Image
- AHelpful
- BHarmful
- CInternal
- DExternal
- EStrengths
- FWeaknesses
- GOpportunities
- HThreats
8Name the Title
- APorter's Five Forces
9Porter's Five Forces
- ASuppliers
- BBuyers
- CEntrants
- DSubstitutes
10For most industries, the intensity of [blank_start]rivalry[blank_end] among competitors is the [blank_start]biggest[blank_end] determinant of [blank_start]competitiveness[blank_end] for an existing company.
- Arivalry
- Bbiggest
- Ccompetitiveness
11For [blank_start]most[blank_end] industries, the intensity of rivalry among [blank_start]competitors[blank_end] is the biggest [blank_start]determinant[blank_end] of competitiveness for an [blank_start]existing[blank_end] company.
- Amost
- Bcompetitors
- Cdeterminant
- Dexisting
12[blank_start]New Entrants[blank_end] can threaten to take market share from existing companies.
- ANew Entrants
13New Entrants can threaten to take [blank_start]market share[blank_end] from [blank_start]existing[blank_end] companies.
- Amarket share
- Bexisting
14[blank_start]Substitute Products[blank_end] can threaten to take sales away from a particular industry
- ASubstitute Products
15Substitute Products can threaten to take [blank_start]sales[blank_end] away from a particular industry
- Asales
16The ability of [blank_start]suppliers[blank_end] to command higher prices can [blank_start]threaten[blank_end] a company’s profitability and flexibility.
- Asuppliers
- Bthreaten
17The ability of suppliers to command [blank_start]higher[blank_end] prices can threaten a company’s profitability and flexibility.
- Ahigher
18The ability of suppliers to command higher [blank_start]prices[blank_end] can threaten a company’s profitability and [blank_start]flexibility[blank_end].
- Aprices
- Bflexibility
19Supplier is Powerful when:
- ADominated by a few large companies
- BSatisfactory substitute products are not available
- CIndustry firms are not a significant customer
- DSupplier’s goods are critical to buyers
- EHigh switching costs
- FCan integrate forward
- GMany potential suppliers
- HSupplier depends on the industry
- ILow switching costs
- JCannot integrate forward
20A Supplier is Weak When:
- AMany potential suppliers
- BMany substitutes
- CSupplier depends on the industry
- DBuyers can survive without supplier goods
- ELow switching costs
- FCannot integrate forward
- GDominated by a few large companies
- HIndustry firms are not a significant customer
- IHigh switching costs
- JCan integrate forward
21The ability of [blank_start]buyers[blank_end] to command lower prices can create a serious threat to a company.
- Abuyers
22The ability of buyers to command [blank_start]lower[blank_end] prices can create a serious [blank_start]threat[blank_end] to a company.
- Alower
- Bthreat
23A Buyer is powerful when:
- ABuy a large portion of an industry’s total output
- BSales of product account for significant portion of seller’s revenue
- CSwitching costs are low
- DIndustry’s products are undifferentiated or standardized
- EBuyer pose a threat to integrate backward
- FSales span multiple industries
- GSales of product are mostly inconsequential to seller’s revenue
- HSwitching costs are high
- IBuyer cannot integrate backward
- JHigh level of differentiation in industry’s products
24A Buyer is weak when:
- ASales span multiple industries
- BSales of product are mostly inconsequential to seller’s revenue
- CSwitching costs are high
- DHigh level of differentiation in industry’s products
- EBuyer cannot integrate backward
- FBuy a large portion of an industry’s total output
- GSales of product account for significant portion of seller’s revenue
- HSwitching costs are low
- IIndustry’s products are undifferentiated or standardized
- JBuyer pose a threat to integrate backward
25[blank_start]Vertical Integration[blank_end]: the combination in one company of two or more stages of production that could otherwise be operated by separate companies.
- AVertical Integration
26Vertical Integration: the combination in one [blank_start]company[blank_end] of two or more stages of [blank_start]production[blank_end] that could otherwise be operated by separate [blank_start]companies[blank_end].
- Acompany
- Bproduction
- Ccompanies
27Vertical Integration: the combination in [blank_start]one[blank_end] company of two or more [blank_start]stages[blank_end] of production that could otherwise be operated by [blank_start]separate[blank_end] companies.
- Aone
- Bstages
- Cseparate
28[blank_start]Vertical Integration[blank_end]: Parts of the Supply Chain are owned and operated by the same company
- AVertical Integration
29Vertical Integration: Parts of the [blank_start]Supply Chain[blank_end] are owned and operated by the same [blank_start]company[blank_end]
- ASupply Chain
- Bcompany
30Vertical Integration: Parts of the Supply Chain are [blank_start]owned[blank_end] and operated by the [blank_start]same[blank_end] company
- Aowned
- Bsame
31[blank_start]Horizontal Integration[blank_end]: process of a company increasing production of goods or services at the same part of the supply chain.
- AHorizontal Integration
32Horizontal Integration: process of a company increasing [blank_start]production[blank_end] of goods or services at the same part of the [blank_start]supply chain[blank_end].
- Aproduction
- Bsupply chain
33Horizontal Integration: process of a company [blank_start]increasing[blank_end] production of goods or services at the [blank_start]same[blank_end] part of the supply chain.
- Aincreasing
- Bsame
34[blank_start]Horizontal Integration[blank_end]: A company may do this via internal expansion, acquisition or merger.
- AHorizontal Integration
35Horizontal Integration: A company may do this via [blank_start]internal[blank_end] expansion, [blank_start]acquisition[blank_end] or merger.
- Ainternal
- Bacquisition
36Horizontal Integration: A company may do this via internal [blank_start]expansion[blank_end], acquisition or [blank_start]merger[blank_end].
- Aexpansion
- Bmerger
37External Environment
- AEconomic
- BPhysical
- CDemographic
- DSociocultural
- EPolitical/Legal
- FGlobal
- GTechnological
38[blank_start]External Environment[blank_end] [blank_start]Analysis[blank_end]
- Scanning: the study of all segments in the general environment
- Monitoring: the ongoing observation of any changes which might take place in the environment
- Forecasting: the activity of developing projections of how the external environment may change
- Assessing: Determining the timing and significance of environmental changes- AExternal Environment
- BAnalysis
39External Environment Analysis
- [blank_start]Scanning[blank_end]: the study of all segments in the general environment
- [blank_start]Monitoring[blank_end]: the ongoing observation of any changes which might take place in the environment
- [blank_start]Forecasting[blank_end]: the activity of developing projections of how the external environment may change
- [blank_start]Assessing[blank_end]: Determining the timing and significance of environmental changes- AScanning
- BMonitoring
- CForecasting
- DAssessing
40External Environment Analysis
- Scanning: the study of [blank_start]all[blank_end] segments in the general [blank_start]environment[blank_end]
- Monitoring: the ongoing [blank_start]observation[blank_end] of any changes which might take place in the [blank_start]environment[blank_end]
- Forecasting: the activity of developing [blank_start]projections[blank_end] of how the [blank_start]external[blank_end] environment may change
- Assessing: Determining the [blank_start]timing[blank_end] and significance of [blank_start]environmental[blank_end] changes- Aall
- Benvironment
- Cobservation
- Denvironment
- Eprojections
- Fexternal
- Gtiming
- Henvironmental
41[blank_start]Strategic Group[blank_end]: a set of firms emphasizing similar strategic dimensions and using similar strategies
- AStrategic Group
42Strategic Group: a [blank_start]set[blank_end] of firms emphasizing similar strategic [blank_start]dimensions[blank_end] and using similar [blank_start]strategies[blank_end]
- Aset
- Bdimensions
- Cstrategies
43[blank_start]Competitor intelligence[blank_end]: set of data and information the firm gathers to better understand and anticipate competitors’ objectives, strategies, assumptions, and capabilities
- ACompetitor intelligence
44Competitor intelligence: set of [blank_start]data[blank_end] and [blank_start]information[blank_end] the firm gathers to better understand and anticipate [blank_start]competitors[blank_end]’ objectives, strategies, assumptions, and capabilities
- Adata
- Binformation
- Ccompetitors
45[blank_start]Competitor intelligence[blank_end]: Critical to gather competitor intelligence using LEGAL and ETHICAL practices.
- ACompetitor intelligence
46Competitor intelligence: Critical to gather competitor intelligence using [blank_start]LEGAL[blank_end] and [blank_start]ETHICAL[blank_end] practices.
- ALEGAL
- BETHICAL
47[blank_start]Complementors[blank_end]: companies or networks of companies that sell goods or services that are compatible with the firm’s good or service.
- AComplementors
48Complementors: companies or [blank_start]networks[blank_end] of companies that [blank_start]sell[blank_end] goods or services that are [blank_start]compatible[blank_end] with the firm’s good or service.
- Acompatible
- Bnetworks
- Csell
49Common Analysis [blank_start]Pitfalls[blank_end]
- Defining industry too broadly or too narrowly
- Making lists instead of engaging in rigorous analysis
- Paying equal attention to all forces rather than digging into the most important ones
Ignoring industry trends
- Confusing cyclical or transient changes with true structural changes
- Using framework to declare industry attractive or unattractive rather than using it to guide strategic choices- APitfalls
50Common Analysis Pitfalls
- Defining industry too [blank_start]broadly[blank_end] or too narrowly
- Making [blank_start]lists[blank_end] instead of engaging in rigorous analysis
- Paying [blank_start]equal[blank_end] attention to all [blank_start]forces[blank_end] rather than digging into the most important ones
Ignoring industry trends
- Confusing [blank_start]cyclical[blank_end] or transient changes with true structural changes
- Using [blank_start]framework[blank_end] to declare industry attractive or unattractive rather than using it to guide [blank_start]strategic[blank_end] choices- Abroadly
- Blists
- Cequal
- Dforces
- Ecyclical
- Fframework
- Gstrategic
51Common Analysis Pitfalls
- Defining industry too broadly or too [blank_start]narrowly[blank_end]
- Making lists instead of engaging in rigorous [blank_start]analysis[blank_end]
- Paying equal attention to all forces rather than digging into the most [blank_start]important[blank_end] ones
Ignoring industry [blank_start]trends[blank_end]
- Confusing cyclical or transient changes with true structural [blank_start]changes[blank_end]
- Using framework to declare industry [blank_start]attractive[blank_end] or [blank_start]unattractive[blank_end] rather than using it to guide strategic choices- Anarrowly
- Banalysis
- Cimportant
- Dtrends
- Echanges
- Fattractive
- Gunattractive
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- Description
- Busiess Policy Quiz on Midterm 1.2, created by Tiffhanie Ramos on 02/10/2018.
- Author
- Tiffhanie Ramos
- Language
- English
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