Question 1

The observation that in mid-2009, the global automobile industry had the capacity to build 94 million vehicles per year, 34 million more than actually needed, is an aspect of the ____ segment of the general environment.

Accepted Answer

The fact that the automobile industry had excess capacity is an aspect of the global segment of the general environment, which refers to factors that affect industries and organizations on a global scale, such as economic trends and international trade policies.

Question 2

Chapter 2 notes that the European Union and South Korea remain committed to developing trade agreements that benefit both parties. In which segment of an analysis of the general environment would this appear?

Accepted Answer

The commitment of the European Union and South Korea to develop trade agreements that benefit both parties relates to the global segment of an analysis of the general environment, which includes trends and events in the worldwide business environment.

Question 3

Understanding how new knowledge can develop new products, processes, or materials is a result of analyzing the ____ segment of the general environment.

Accepted Answer

Technological advancements can lead to the development of new products, processes, or materials. Analysis of the technological segment of the general environment can provide insights into new trends, innovations, and breakthroughs that can be leveraged for business growth and development.

Question 4

Analyzing income distribution would include all of the following EXCEPT

Accepted Answer

The answer of Analyzing income distribution would include all of...

Question 5

The technological segment of environmental analysis includes

Accepted Answer

The answer of The technological segment of environmental analysis includes
...

Question 6

Which of the following would NOT be identified in an analysis of the economic portion of the general environment?

Accepted Answer

The economic portion of the general environment would include factors such as interest rates, inflation, and economic growth, but not specifically the ability of a single company (in this case, Ford) to issue new debt. The other options all relate to conditions that would impact the overall economy and affect various companies within the automotive industry.

Question 7

The economic environment refers to

Accepted Answer

The economic environment is the nature and direction of the economy in which a firm competes or may compete. This includes factors such as inflation, unemployment rates, economic growth, and government policies that may affect the business operations and profitability of a firm. B, C, and D are not accurate descriptions of the economic environment.

Question 8

Characteristics of the current economic segment include all of the following EXCEPT

Accepted Answer

The other choices all describe common characteristics of the current economic segment, while option B is incorrect as there is currently much uncertainty about future economic opportunities and threats.

Question 9

In analyzing the demographic segment of the general environment, one typically examines all of the following factors EXCEPT

Accepted Answer

The answer of In analyzing the demographic segment of the...

Question 10

The political/legal segment of an environment represents

Accepted Answer

The answer of The political/legal segment of an environment represents
...

Question 11

In the chapter discussion of the political legal segment of the general environment, it was noted that President Obama's administration might form policies that would

Accepted Answer

The political legal segment refers to government regulations and laws that businesses must follow. President Obama's administration was known for being protective of American jobs and industries, so it is unlikely that they would increase the amount of work U.S. companies outsource to firms in other nations (choice C). Additionally, removing the U.S. from NAFTA (choice A) or abolishing antitrust laws (choice B) would not align with President Obama's policies. Thus, reducing the amount of work U.S. companies outsource to firms in other nations is the most likely policy choice that would align with his administration's goals.

Question 12

Which of the following would be an example of the application of next major technological opportunity for organizations?

Accepted Answer

The answer of Which of the following would be an...

Question 13

An analysis of society's attitudes and values would be conducted when studying the ____ segment of the general environment.

Accepted Answer

The sociocultural segment of the general environment is concerned with society's attitudes, values, and cultural norms that can have an impact on an organization's operations and strategies. Therefore, an analysis of society's attitudes and values would fall under this segment. The global segment refers to international factors, the demographic segment refers to population characteristics, and the economic segment refers to economic conditions and trends.

Question 14

All of the following are aspects of the political/legal segment of the general environment EXCEPT

Accepted Answer

Attitudes and values are part of the sociocultural segment of the general environment, not the political/legal segment. The other choices - antitrust laws, free trade agreements, and industries chosen for deregulation - are all aspects of the political/legal segment.

Question 15

An analysis of the economic segment of the external environment would include all of the following EXCEPT

Accepted Answer

The move toward a contingent workforce is a factor related to the labor market and not the economic segment of the external environment, which primarily focuses on factors that relate to the overall economic conditions of a country or region, such as interest rates, international trade, and currency strength.

Question 16

Demographic changes include variations in income distribution. Which of the following statements is true?

Accepted Answer

While the general trend has been a loss in real income, the increase in dual-career couples has somewhat offset this by increasing household income. Firms are not necessarily only interested in the top ten percent of households, and workforce diversity may make the concept of average income less meaningful, but these statements are not directly related to income distribution. The statement about consumers' real income increasing steadily since 1976 is not accurate, as real income has fluctuated over time.

Question 17

Which of the following identified in an analysis of the general environment is an opportunity for an entrepreneur who wishes to open a business doing "Fitness for Life" physical conditioning services (strength, balance, and flexibility training) in a city of 100,000 people?

Accepted Answer

The fact that the average age of the population in the community is high presents an opportunity for the entrepreneur to offer fitness and conditioning services tailored towards older individuals who may require more specialized training in areas such as strength, balance, and flexibility.

Question 18

A general environmental analysis can be expected to produce all of the following EXCEPT

Accepted Answer

A general environmental analysis may produce a range of answers that may not necessarily be objective. The analysis involves gathering information and interpreting it, which can lead to subjective interpretations and conclusions.

Question 19

The next critical technological opportunity for organizations is predicted to be

Accepted Answer

The answer of The next critical technological opportunity for organizations...

Question 20

In a suburban community outside a city in Alabama, a retail store opened that specialized in dancewear for children and adults. It was moderately successful for five years until the local newspaper published an exposé that scanty lingerie stocked in the back of the store's showroom was selling briskly to a certain clientele. Afterward, the store lost most of its customers and nearly closed. Which segment of the environment did the store owner fail to take into account when she began selling the lingerie?

Accepted Answer

The store owner failed to take into account the sociocultural segment of the environment, which includes beliefs, values, customs, and behaviors of a particular society. Selling lingerie in a store that specializes in dancewear for children and adults may have clashed with the cultural norms and values of the local community, leading to negative reactions and loss of customers.

Quiz 2: The External Environment: Opportunities, Threats, Industry Competition, and Competitor Analysis