Question 1

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

Accepted Answer

Attitudes and values refer to the societal/cultural segment of the general environment, not the political/legal segment. The other options (antitrust laws, taxation laws, industries chosen for deregulation) are all components of the political/legal segment.

Question 2

All of the following are examples of efforts by firms to address the physical segment of the general environment in the Chapter 2 Strategic Focus case EXCEPT

Accepted Answer

Hiring more women and minorities at Microsoft is an effort to address the sociocultural segment of the general environment, not the physical segment. Options A, B, and C are all focused on reducing environmental impact in the physical segment of the general environment.

Question 3

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 includes factors such as attitudes, values, norms, beliefs, and lifestyles of individuals in a society. Therefore, an analysis of society's attitudes and values would fall under this segment.

Question 4

The observation that in China, even though car sales surged 37% in 2010, it is expected that by 2015 they will reach production overcapacity and have a glut of extra cars is an aspect of the ____ segment of the general environment.

Accepted Answer

The situation described involves international market dynamics and economic trends, which are aspects of the global segment of the general environment.

Question 5

An industry is defined as

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The answer of An industry is defined as
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Question 6

The next critical technological opportunity for organizations is predicted to be

Accepted Answer

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

Question 7

Global warming and energy consumption trends are aspects of the _____________ segment of the general environment that firms should monitor.

Accepted Answer

Global warming and energy consumption trends are physical aspects of the general environment that can affect the natural resources available for businesses to use.

Question 8

The likelihood of entry of new competitors is affected by ____ and ____.

Accepted Answer

Barriers to entry and expected retaliation of current industry organizations are the two main factors that affect the likelihood of new competitors entering the market. Barriers to entry refer to the obstacles that new entrants face while trying to compete with the existing players in the market. These barriers can be in the form of high capital requirements, high switching costs, economies of scale, etc. Expected retaliation of current industry organizations refers to the response of the existing players to the entry of new competitors. If the existing players expect retaliation, they may take steps to prevent the entry of new competitors, making it harder for new entrants to succeed. Therefore, choice A is the correct answer.

Question 9

The technological segment of environmental analysis includes

Accepted Answer

The answer of The technological segment of environmental analysis includes
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Question 10

Green restaurant design, sustainable packaging, waste management, and energy efficiency are aspects of the ______________ segment of the general environment that McDonald's has sought to address (Chapter 2 Strategic Focus).

Accepted Answer

The physical segment of the general environment refers to the natural resources, climate, and weather conditions, as well as issues related to waste management and energy efficiency. McDonald's has been working on implementing sustainable practices in its physical environment, such as green restaurant design and waste management initiatives.

Question 11

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

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

Question 12

Which of the following is NOT an entry barrier to an industry?

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The answer of Which of the following is NOT an...

Question 13

Because of threats and risks in the global environment, some firms choose to take a more cautious approach by

Accepted Answer

By focusing on global niche markets, firms can minimize their exposure to risks and threats in the global environment while still reaping the benefits of international expansion. This approach allows firms to better adapt to local market conditions and leverage their unique strengths and capabilities in specific segments. Avoiding global markets altogether (option A) would limit a firm's growth potential, while expanding only to developed countries (option B) may not provide sufficient diversification and may miss out on growth opportunities in emerging markets. Acquiring already established firms in foreign markets (option D) can be an effective strategy, but it may also be costly and risky, especially if the acquired firm's culture and operations are not aligned with the acquiring firm's goals and values.

Question 14

The concepts of Guanxi, Wa, and Inhwa all convey the general idea of

Accepted Answer

Guanxi, Wa, and Inhwa are all concepts related to interpersonal relationships, specifically emphasizing the importance of building and maintaining social networks for success in business and other aspects of life. These concepts are prevalent in Chinese, Japanese, and Korean cultures, respectively.

Question 15

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

Accepted Answer

Analyzing the technological segment of the general environment helps in identifying and understanding new knowledge and advancements that are available and can be utilized to develop new products, processes or materials. This segment includes developments in research and development, innovation, automation, and technology transfer.

Question 16

The Chapter 2 Strategic Focus case on firm's efforts to take care of the physical environment noted that one popular approach was

Accepted Answer

The case specifically mentioned that firms were producing and selling additional green products as a popular approach for taking care of the physical environment. The other options (B, C, and D) were not mentioned in the case as popular approaches.

Question 17

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

Accepted Answer

The ability of Ford to issue new debt is a company-specific factor and would not be identified in an analysis of the general economic environment. The other options all relate to broader economic trends or shifts that could impact multiple companies or industries.

Question 18

The economic environment refers to

Accepted Answer

The economic environment refers to the nature and direction of the economy in which a firm competes or may compete. It includes factors such as economic growth, inflation, interest rates, unemployment, and government policies that impact businesses and their operations.

Question 19

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.

Question 20

The political/legal segment of an environment represents

Accepted Answer

The answer of The political/legal segment of an environment represents
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Quiz 2: The External Environment: Opportunities, Threats, Industry Competition, and Competitor Analysis