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Chapter-3

This document provides definitions and explanations of key terms and concepts related to performing external assessments and analyzing external factors that impact organizations. These include definitions of backward integration, competitive intelligence, industry analysis, the five competitive forces, and explanations of tools like external factor evaluation matrices and competitive profile matrices.

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10 views

Chapter-3

This document provides definitions and explanations of key terms and concepts related to performing external assessments and analyzing external factors that impact organizations. These include definitions of backward integration, competitive intelligence, industry analysis, the five competitive forces, and explanations of tools like external factor evaluation matrices and competitive profile matrices.

Uploaded by

DTrung Kiên
Copyright
© © All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
Available Formats
Download as DOCX, PDF, TXT or read online on Scribd
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Chapter 3.

The External Assessment

A.
A ________ Integration strategy is used by firms to gain control or ownership of suppliers.
-> backward
According to Porter, what is usually the most powerful of the five competitive forces?
-> Rivalry among competing firms
A weak dollar means
-> higher exports and lower imports.
A systematic and Ethical process for gathering and analyzing information about the competition's
activities and general trends to further a business' own goals is called
-> competitive intelligence.
Availability of credit falls under the ________ forces category of External forces.
-> organizational
All of the following are political, governmental, and legal variables that can represent key
opportunities or threats to organizations EXCEPT
-> population changes by race, age, sex, and level of affluence
A Total Weighted Score of ________ in an External Factor Evaluation (EFE) Matrix indicates that
an organization is responding in an outstanding way to existing opportunities and threats in its
industry.
-> 4.0
B.
C.
Collecting and Evaluating information on competitors is essential for successful
-> strategy formulation.
Competition in Virtually all industries is
-> intense
D.
E.
External audits attempt to identify key variables that offer ________ responses.
-> actionable
External audit is sometimes called
-> industry analysis
F.
G.
H.
I.
In general, what happens to American goods in overseas markets when there is a strong dollar?
-> They are more expensive.

In performing Strategic Planning and case analysis, relevant SCDE factors for a particular firm must
be ________ and actionable to be useful.
-> quantified
In the U.S. food industry, demand for processed packaged foods is ________.
-> declining
Intensity of competition ________ in lower-return industries.
-> is highest
If suppliers are Unreliable or Too costly, which of these Strategies may be appropriate?
-> Backward integration

K.
L.
M.
N.
O.
One difference between a Competitive Profile Matrix (CPM) and an External Factor Evaluation
(EFE) is that
-> CPM includes both internal and external issues
P.
R.
S.
T.
To perform an External audit, a company first must
-> gather competitive intelligence and information about external trends
The United States' population is
-> getting older and less white.
The Acronym SCDE stands for social, cultural, demographic, and ________ forces
-> environment
The emergence of 3D printing is an example of a(n) ________ force that impacts organizations.
-> technological
The Shift to a service economy is an example of a(n) ________ force.
-> economic
The Investor relations Pages of a company website ________ information about a firm
-> is a good place to start to find
The Process of performing an External Audit needs to include
-> as many managers and employees as possible
The Weights and Total weighted scores in a Competitive Profile Matrix (CPM) have the same
meaning as the weights and total weighted scores in a(n)
-> External Factor Evaluation (EFE).
The Critical Success factors in a Competitive Profile Matrix and EFE Matrix include
-> both internal and external issues.
U.
Unpublished sources of external strategic information include all of the following EXCEPT
-> abstracts.
V.
W.
Without assumptions, Planning would be
-> impossible.
Which of the following is NOT a Published source of external strategic information?
-> Customer surveys
What is NOT one of Michael Porter's five competitive forces?
-> Bargaining power of unions
What is the First Step in designing an External Factor Evaluation (EFE) Matrix?
-> Identifying key external factors
What is the range for a firm's Total Weighted Score in an External Factor Evaluation Matrix?
-> 1 to 4
What is the range for a firm's total weighted score in a Competitive Profile Matrix (CPM)?
-> 1 to 4
What are Educated Assumptions about future trends and events called?
-> Forecasts
Which of the following is NOT an External force that must be examined in formulating strategies?
-> Organizational
When an industry relies heavily on government contracts, which forecasts can be the most important
part of an External audit?
-> Political
________ forces are SHAPING the way people live, work, produce, and consume
-> SCDE
Whenever new firms can easily enter a particular industry, the intensity of competitiveness among
firms tends to
-> increase.
When the products being purchased are standard or undifferentiated, it results in ________
bargaining power of consumers.
-> Higher
When using External Factor Evaluation (EFE) Matrix, what is done after multiplying each factor's
weight by its rating to determine a weighted score?
-> Summing the weighted scores for each variable to determine the total weighted score for the
organization

_______ is NOT a basic Mission of a Competitive Intelligence Program.


-> Identifying industry executives who could be hired by the firm

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