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Exam 3: The External Assessment

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Question 21

True/False

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In performing strategic planning and case analysis, relevant SCDE factors for a particular firm need not be quantified to be useful.

A) True
B) False

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Question 22

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The acronym SCDE stands for social, cultural, demographic, and ________ forces.

A) economic
B) ecological
C) ethnic
D) external
E) environment

F) C) and E)
G) D) and E)

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Question 23

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It is predicted that, by 2050, over 25 percent of the population in the United States will be 65 years or older.

A ________ integration strategy is used by firms to gain control or ownership of suppliers.

While forecasts might not be perfect, they are never wildly inaccurate.

Major competitors' strengths are areas of concern, but do not represent key threats to a firm.

Organizations never develop their own projections.

Which of the following is NOT an external force that must be examined in formulating strategies?

Regardless of the number of key opportunities and threats included in an External Factor Evaluation Matrix, the highest possible total weighted score for an organization is 4.0, and the lowest possible total weighted score is 0.0.

The United States' population is

An effective competitive intelligence program allows all areas of a firm to access consistent and verifiable information in making decisions.

Bargaining power of consumers is usually the most powerful of Porter's five competitive forces.

In the U.S. food industry, demand for processed packaged foods is increasing.

External audits attempt to identify key variables that offer intuitive responses.

Whenever new firms can easily enter a particular industry, the intensity of competitiveness among firms tends to

In the U.S. food industry, demand for processed packaged foods is ________.

The five major categories of variables known as external forces are: 1) economic forces, 2) social, cultural, demographic, and natural environment forces, 3) political, governmental, and legal forces, 4) technological forces, and 5) competitive forces.

For firms with large U.S. sales, a strong dollar provides a boost.

To perform an external audit, a company first must

Describe the Competitive Profile Matrix (CPM) noting similarities to, and differences from, the External Factor Evaluation (EFE) Matrix.