Demographic information

o r

Psychographic information

Incorrect

• 110

This is considered a collection of firms that offer similar products or services that customers perceive to be substitutable for one another..

Monopoly

o r Oligopoly

Environment

Correct

Business factors

0

Incorrect

• 61

What Human Resource component within its operating environment is a major element of a firm's ability to satisfy its personnel needs?

0

Employment rates

Benefit packages

o r

Labor union

o r

Incorrect

• ILO

This 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.

Geographic information

0

1 1 i

Industry environment

Correct

• 14

This term refers to the relationships among human beings and other living things and the air, soil, and water that supports them.

Going green

o r

Society

C

Eco-efficiency

Incorrect

. pI

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?

o r

Social factors

o r

Political factors

r

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?

0

Business environment

o r

Industry environment

Operating environment

Remote environment

Incorrect

111

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.

o r

Business environment

Wiesses o r

Remote environment

1

Geographies

0

Buyer behaviors

o r

Psychographics

Incorrect

.111

Economies of scale in an industry refers to

0

decreased barriers to entry to new firms attempting to enter the industry

0

improved contractual agreements with suppliers in the near term

0

declining average short run costs per unit

0

savings that companies within the industry achieve due to increased volume

Correct

• 12

r -1

Suppliers

0

Retailers

0

Buyers

Incorrect

This element of employment or labor represents the workers in their negotiations with employers through

the process of collective bargaining.

0

Labor unions

0

Hiring agent

0

Human Resources

0

Wage & Hours Association

Incorrect

• M

This term refers to descriptive characteristics that can be used to differentiate groups of present or

potential customers.

0

0

0

Industry factor

Incorrect

7

Which threat of entry creates a barrier by forcing entrants to spend heavily to overcome customer loyalty?

0

Powerful sellers

C

Economies of scale

o r

40011.11111111 0

Powerful buyers

Incorrect

• 8

This group is considered powerful if it is not obliged to contend with other products for sale to the industry.

0

Wholesalers

r -9

Incorrect

A firm's access to needed personnel is affected primarily by four factors that include

• the firm's reputation as an employer, local employment rates, the reacIrIMIStarifbai

needed skills, and its relationship with labor unions

the firm's size and location, competitive hourly rates, availability of talented people, and its relationship

with labor unions

the firm's size and location, local employment rates, labor unions to assist with labor needs, and trained

potential employees

0

the firm's reputation as an employer, national employment rates, community involvement, and overall

employee satisfaction

Incorrect

• 61

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.

0

Operations factor

0

a

0

Sales factor

r

Which of these is a determinant of entry, according to Porter?

o r

Economies of scale

Presence of substitute input

Ability to backward integrate

0

Exit barriers

Incorrect

.

The environment that is typically subject to much influence by the firm is

0

external

0

-operating

0

remote

0

industry

r-

• The quasi-science of anticipating environmental and competitive changes and estimating their importance

to an organizations operation refers to

E 0

SWOT analysis

o r

environmental scanning

0

business analysis

o r

usgamarmikit • Incorrect • 'a

A firm's external environment is divided into various subcategories that include

0

industry, technology, and internal

0

remote, industry, and operating

o r

political, social, and industry

o r

remote, social, and operations

Correct