Question 1

Which one of the following is NOT part of the process of industry scenarios?

Accepted Answer

The process of industry scenarios involves examining societal variables, identifying uncertainties in the task environment forces, making plausible assumptions about future trends and analyzing the industry situation that may arise from each scenario. However, it does not require the generation of at least 15 scenarios. The number of scenarios generated may vary depending on the needs and scope of the analysis.

Question 2

Describe Porter's approach to industry analysis.

Accepted Answer

The answer of Describe Porter's approach to industry analysis....

Question 3

Trend extrapolation is

Accepted Answer

Trend extrapolation involves extending present trends into the future based on historical data and patterns. It does not involve converting intuition and hunches into reality or asking for informed guesses from authorities. While detecting faulty underlying assumptions is an important aspect of forecasting, it is not specifically related to trend extrapolation. Option D describes scenario planning, which is a different forecasting technique.

Question 4

The technique recommended by the text to organize an analysis of external strategic factors is called

Accepted Answer

The text recommends EFAS (External Factor Analysis Summary) as the technique to organize an analysis of external strategic factors. Therefore, option B is the correct answer. Options A, C, and D are incorrect as they refer to different techniques or frameworks for analysis. Option E, the issues priority matrix, is a tool used to prioritize issues after they have been identified and analyzed, and is not specific to external factors.

Question 5

Regression analysis is an example of which quantitative forecasting technique?

Accepted Answer

Regression analysis is a statistical modeling technique used for quantitative forecasting.

Question 6

List eight current sociocultural trends in the United States that are transforming North America and the world.

Accepted Answer

The answer of List eight current sociocultural trends in the...

Question 7

Discuss the most commonly practiced form of forecasting.

Accepted Answer

The answer of Discuss the most commonly practiced form of...

Question 8

The most widely used forecasting technique used after trend extrapolation is

Accepted Answer

The answer of The most widely used forecasting technique used...

Question 9

Distinguish between a fragmented and consolidated industry.

Accepted Answer

The answer of Distinguish between a fragmented and consolidated industry....

Question 10

A non-quantitative approach to forecasting that requires simply the presence of people with some knowledge of the situation to be predicted to propose ideas without first mentally screening them is called

Accepted Answer

The non-quantitative approach that involves a group of people proposing ideas without filtering them mentally is called brainstorming. The Delphi technique involves an iterative approach to reach a consensus among a group of experts through multiple rounds of moderated discussions. Simulations involve creating a model to simulate different scenarios and their outcomes. Signal monitoring involves tracking certain indicators or signals to identify changes or trends. Scenarios involve creating stories or narratives to explore potential future situations.

Question 11

Describe the four strategic types of the Miles and Snow typology.

Accepted Answer

The answer of Describe the four strategic types of the...

Question 12

In the EFAS Table, the indicator of how well a particular company is responding to current and expected factors in its external environment is characterized by the

Accepted Answer

The total weighted score in the EFAS (External Factor Analysis Summary) table indicates how well a company is responding to current and expected factors in its external environment.

Question 13

Define competitive intelligence.

Accepted Answer

The answer of Define competitive intelligence....

Question 14

One ground rule necessary for effective brainstorming is

Accepted Answer

The ground rule necessary for effective brainstorming is to propose ideas without mentally screening them. This allows for a free flow of thoughts and prevents self-censorship, leading to a greater number of ideas and potentially better solutions. Scrutinizing, critiquing, and calculating the success of ideas should come later in the evaluation phase.

Question 15

Describe the four general forces in the societal environment.

Accepted Answer

The answer of Describe the four general forces in the...

Question 16

What are the two factors that tend to determine whether an industry will be primarily multidomestic or primarily global?

Accepted Answer

The answer of What are the two factors that tend...

Quiz 4: Environmental Scanning and Industry Analysis