EEE 2023 Exam 2 Chapter 5 Questions With Correct Answers.

It is useful for a new venture to think about its​ _____ at both the company level and the product or service level. Position ​A(n) _____ analysis is a detailed evaluation of a​ firm's competitors. Competitor Which one of the following is NOT a force in the five forces model of industry​ analysis? Threat of Stakeholders Economies of scale are a relevant factor in which of the five​ forces? Threat of new Entrants The five forces model helps a firm determine whether it should enter a particular industry and whether it can​ _____________. Carve out an attractive position in that industry The five forces in the five forces model determine the threat to industry​ _______. Profitability ​A(n) _____ industry is a new industry in which standard operating procedures have yet to be developed. Emerging A(n) ____ industry is one that is characterized by a large number of firms of approximately equal size. Fragmented ​_____ competitors are businesses that offer products or services that are identical or highly similar to those of the firm in question. Direct Coffee, milk,​ tea, and water are​ ______ competitors for​ Coca-Cola. Indirect A(n) _____ advantage is a​ sometimes-insurmountable advantage gained by the first company to establish a significant position in a new market. First Mover When there are​ _____ suppliers to provide a critical product to a large number of​ buyers, the suppliers have an advantage. Only a few The ability of firms in some industries to benefit from an increasing ability to outsource manufacturing or service functions to​ lower-cost foreign labor markets is an example of​ a(n) _____ trend. Business Which of the following is NOT a barrier to​ entry? Stakeholder holdout The renting of DVDs and video games by mail is an example of​ a(n) ____ industry. Declining Which of the following is NOT a primary factor that determines the nature and intensity of the rivalry among existing firms in an​ industry? Threat of forward integration Which of the following is NOT a force as per the five forces​ model? Bargaining power of stockholders Economic​ trends, ____​ trends, technological​ advances, and political and regulatory changes are the most important environmental trends for entrepreneurs to study. Social A​ _____ is a condition that creates a disincentive for a new firm to enter an industry. Barrier to entry In​ general, industries are more attractive when the threat of substitutes is​ ___. Low Once a firm decides to enter an industry and chooses a market in which to​ compete, it must gain an understanding of its​ _____ environment. Competitive When a firm varies its product or service offerings to meet the demands of the local​ market, it is pursuing a​ _____ strategy. Multidomestic Threat of​ ____ integration increases the bargaining power of buyers. Backward At the company​ level, a​ firm's ____ determines how the company is situated relative to its competitors Launch Industries with​ ___ fixed costs have a high degree of intensity of rivalry High A geographic​ roll-out opportunity is available in​ a(n) ______ industry. Fragmented ​A(n) _____ industry is one in which standard operating procedures have yet to be developed. Emerging It is useful for a new venture to think about its position at both the​ _____ level and the product or service level. Company ​Microsoft's power as a supplier of computer operating systems is​ ____ by the threat that it might enter the PC industry if PC makers balk too much at the cost of its software. Enhanced The consumer milk industry is characterized by slow​ growth, repeat​ (rather than​ new) customers, and limited product innovation. This industry is an example of​ a(n) ______ industry. Mature