Strategic Management Concepts and Cases Competitiveness and Globalization 11th Edition – Test Bank

Strategic Management Concepts and Cases Competitiveness and Globalization 11th Edition by Michael A. Hitt – Test Bank

True / False

1. The external environment facing business stays relatively constant over time. a. True

b. False

ANSWER:  False

POINTS: 1

DIFFICULTY:  Easy

REFERENCES: 40

LEARNING OBJECTIVES: STMA.HITT.15.02.01 – 02.01

NATIONAL STANDARDS:  United States – BUSPROG: Analytic

NOTES: AACSB: Business Knowledge & Analytical Skills | Management: Environmental Influence | Dierdorff & Rubin: Managing the task environment | Bloom: Comprehension

2. Demographic, economic, political/legal, sociocultural, technological, global, and physical are the seven elements comprising the industry environment.

a. True

b. False

ANSWER:  True

POINTS: 1

DIFFICULTY:  Hard

REFERENCES: 40 (Table 2.1)

LEARNING OBJECTIVES: STMA.HITT.15.02.02 – 02.02

NATIONAL STANDARDS:  United States – BUSPROG: Analytic

NOTES: AACSB: Business Knowledge & Analytical Skills | Management: Environmental

Influence | Dierdorff & Rubin: Managing the task environment | Bloom: Knowledge

3. Firms can directly control the elements of the seven segments of the general environment. a. True

b. False

ANSWER:  False

POINTS: 1

DIFFICULTY:  Easy

REFERENCES: 39

LEARNING OBJECTIVES: STMA.HITT.15.02.02 – 02.02

NATIONAL STANDARDS:  United States – BUSPROG: Analytic

NOTES: AACSB: Business Knowledge & Analytical Skills | Management: Environmental Influence | Dierdorff & Rubin: Managing the task environment | Bloom: Comprehension

4. The recent bankruptcy filings by General Motors and Chrysler Corporation illustrate that firms cannot directly control the general environment’s segments.

a. True

b. False

ANSWER:  True

POINTS: 1

DIFFICULTY:  Medium

REFERENCES: 39

LEARNING OBJECTIVES: STMA.HITT.15.2-02 – 02.02

NATIONAL STANDARDS:  United States – BUSPROG: Analytic

NOTES: AACSB: Business Knowledge & Analytical Skills | Management: Environmental

Influence | Dierdorff & Rubin: Managing the task environment | Bloom: Application

5. The industry environment directly influences the firm and its competitive actions and responses. a. True

b. False

ANSWER:  True

POINTS: 1

DIFFICULTY:  Easy

REFERENCES: 39

LEARNING OBJECTIVES: STMA.HITT.15.2-02 – 02.02

NATIONAL STANDARDS:  United States – BUSPROG: Analytic

NOTES: AACSB: Business Knowledge & Analytical Skills | Management: Environmental Influence | Dierdorff & Rubin: Managing decision-making processes | Bloom: Knowledge

6. Competitor analysis is focused on the factors and conditions influencing an industry’s profitability potential. a. True

b. False

ANSWER:  False

POINTS: 1

DIFFICULTY:  Medium

REFERENCES: 39

LEARNING OBJECTIVES: STMA.HITT.15.2-02 – 02.02

NATIONAL STANDARDS:  United States – BUSPROG: Analytic

NOTES: AACSB: Business Knowledge & Analytical Skills | Management: Environmental

Influence | Dierdorff & Rubin: Managing decision-making processes | Bloom: