Question 1

The major cigarette companies have been experiencing a decline in sales due to the overall decrease in smoking across Canada in recent years. These companies are being affected by which dimension of their external environment?
Technological
Global
Business
Socio-cultural
Economic

Accepted Answer

The answer of The major cigarette companies have been experiencing...

Question 2

Ethical conduct and social responsibility are critical elements of which environment?
Global
Political‒legal
Industry
Socio-cultural
Economic

Accepted Answer

The answer of Ethical conduct and social responsibility are critical...

Question 3

The most successful firms are getting leaner by focusing on their core competencies, but these new business models call for
environmental management.
unprecedented coordination.
new corporate boundaries.
unprecedented funds.
none of these are correct

Accepted Answer

The answer of The most successful firms are getting leaner...

Question 4

The internet has changed the way people pay bills. From Canada Post's perspective, this is an example of which of Porter's five forces?
Substitutes
Threat of potential entrants
Buyers
Suppliers
Threat of replacement products

Accepted Answer

The answer of The internet has changed the way people...

Question 5

Some industries are relatively easy to enter, but automobile manufacturing is not because
the market is saturated.
it is very capital-intensive.
it is a foreign market.
it is too labour intensive.
none of these are correct.

Accepted Answer

The answer of Some industries are relatively easy to enter,...

Question 6

Which of the factors in Porter's five forces model is generally most important?
Threat of potential entrants
Rivalry among existing competitors
Threat of substitutes
Suppliers
None of these

Accepted Answer

The answer of Which of the factors in Porter's five...

Question 7

McDonald's has made aggressive moves to gain market share in the coffee market. This is an example of ______, while the opening of Target stores in Canada is an example of ______.
substitutes; threat of potential entrants
threat of potential entrants; buyers
buyers; suppliers
suppliers; rivalry among existing competitors
rivalry among existing competitors; threat of potential entrants

Accepted Answer

The answer of McDonald's has made aggressive moves to gain...

Question 8

Which of the following best describes the breadth of socio-cultural environment factors?
Customs, attitudes, and values
Demographic characteristics, customs, and values
Values, attitudes, customs, and demographic characteristics
Customs, values, religious beliefs, and consumer wealth
Values, religious beliefs, and consumer wealth

Accepted Answer

The answer of Which of the following best describes the...

Question 9

Which of the following is not an example of a factor in the socio-cultural environment?
Prepackaged chili is more popular in southwestern U.S. states than in the U.S. northeast.
Consumers in China perceive bicycles primarily as a mode of transportation, while consumers in Canada perceive bicycles as recreational items.
Companies are more likely to set up foreign operations in countries with stable political and economic systems.
McDonald's has added salads and other low fat foods to its menu.
Many people in the Middle East are unwilling to work in food service operations.

Accepted Answer

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

Question 10

________ is the strategy of paying suppliers and distributors to perform certain business processes or to provide needed materials or resources.
Enterprise management
Outsourcing
Alliance
Disruption
Core competency

Accepted Answer

The answer of ________ is the strategy of paying suppliers...

Question 11

Porter's five forces model includes all of the following except
substitutes.
threat of potential entrants.
buyers.
suppliers.
threat of replacement products.

Accepted Answer

The answer of Porter's five forces model includes all of...

Question 12

The socio-cultural environment describes
the relationship between government and unions.
the relationship between business and government.
the relationship between international and domestic corporations.
the customs, values, attitudes, and demographic characteristics of the society in which an organization functions.
the intensity of the competition in an industry.

Accepted Answer

The answer of The socio-cultural environment describes
the relationship between government...

Question 13

If casinos notice an increase in business due to the fact that many people no longer regard gambling as wrong, this demonstrates a change in the ________ dimension of their external environment.
socio-cultural
technological
global
political‒legal
economic

Accepted Answer

The answer of If casinos notice an increase in business...

Question 14

________ refers to the skills and resources with which the company competes best and creates the most value for its owners.
Labour
Outsourcing
Core competencies
Viral marketing
Business process management

Accepted Answer

The answer of ________ refers to the skills and resources...

Question 15

Companies that continue to act unethically (especially in the area of accounting) will most likely
have their shares appreciate in value because shareholders like aggressive accounting practices which help increase the price of their stock.
have their shares depreciate in value as shareholders become leery of aggressive accounting practices which distort a company's real financial condition.
never be able to sell shares of stock to the public.
find that their share price will be unaffected by this practice.
no pattern is evident.

Accepted Answer

The answer of Companies that continue to act unethically (especially...

Question 16

When Microsoft introduced Encarta, it caused the sale of hard copy encyclopedias sold by Encyclopedia Britannica to drop sharply. This is an example of which of Porter's five forces?
Rivalry among existing competitors
Threat of potential entrants
Suppliers
Buyers
Substitutes

Accepted Answer

The answer of When Microsoft introduced Encarta, it caused the...

Question 17

Most successful firms are getting leaner by focusing on their ________, the skills and resources with which they compete best and create the most value for owners.
viral marketing
core competencies
processes
business process management
political‒legal environment

Accepted Answer

The answer of Most successful firms are getting leaner by...

Question 18

________ is often cited as a buyer that puts tremendous pressure on its suppliers.
The Bay
Canadian Tire
Target
Walmart
Costco

Accepted Answer

The answer of ________ is often cited as a buyer...

Question 19

Which of the following is the best description of outsourcing?
Any activity that adds value to some input by transforming it into an output for an internal or external customer
An approach by which firms move away from department-oriented organization and toward process-oriented team structures that cut across old departmental boundaries
The strategy of paying suppliers and distributors to perform certain business processes or to provide needed materials and resources
The strategy of using the internet and word-of-mouth marketing to spread product information
The strategy of owning the means by which an organization produces goods or services

Accepted Answer

The answer of Which of the following is the best...

Question 20

Many firms use ________ to provide cafeteria operations for their customers.
enterprise management
disruption management
outsourcing
core competencies
vertical integration

Accepted Answer

The answer of Many firms use ________ to provide cafeteria...

Quiz 2: The Environment of Business

The major cigarette companies have been experiencing a decline in sales due to the overall decrease in smoking across Canada in recent years. These companies are being affected by which dimension of their external environment? Technological Global Business Socio-cultural Economic

Ethical conduct and social responsibility are critical elements of which environment? Global Political‒legal Industry Socio-cultural Economic

The most successful firms are getting leaner by focusing on their core competencies, but these new business models call for environmental management. unprecedented coordination. new corporate boundaries. unprecedented funds. none of these are correct

The internet has changed the way people pay bills. From Canada Post's perspective, this is an example of which of Porter's five forces? Substitutes Threat of potential entrants Buyers Suppliers Threat of replacement products

Some industries are relatively easy to enter, but automobile manufacturing is not because the market is saturated. it is very capital-intensive. it is a foreign market. it is too labour intensive. none of these are correct.

Which of the factors in Porter's five forces model is generally most important? Threat of potential entrants Rivalry among existing competitors Threat of substitutes Suppliers None of these

________ is the strategy of paying suppliers and distributors to perform certain business processes or to provide needed materials or resources. Enterprise management Outsourcing Alliance Disruption Core competency

Porter's five forces model includes all of the following except substitutes. threat of potential entrants. buyers. suppliers. threat of replacement products.

If casinos notice an increase in business due to the fact that many people no longer regard gambling as wrong, this demonstrates a change in the ________ dimension of their external environment. socio-cultural technological global political‒legal economic

________ refers to the skills and resources with which the company competes best and creates the most value for its owners. Labour Outsourcing Core competencies Viral marketing Business process management

When Microsoft introduced Encarta, it caused the sale of hard copy encyclopedias sold by Encyclopedia Britannica to drop sharply. This is an example of which of Porter's five forces? Rivalry among existing competitors Threat of potential entrants Suppliers Buyers Substitutes

Most successful firms are getting leaner by focusing on their ________, the skills and resources with which they compete best and create the most value for owners. viral marketing core competencies processes business process management political‒legal environment

________ is often cited as a buyer that puts tremendous pressure on its suppliers. The Bay Canadian Tire Target Walmart Costco

Many firms use ________ to provide cafeteria operations for their customers. enterprise management disruption management outsourcing core competencies vertical integration