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MNGT 4800 Test 2 Adams Questions with 100% Correct
Answers
How external analysis contributes to SWOT - ANSWER External
factors include the environment your organization operates in,
its market, ecosystem, and all of the third parties involved. It
encompasses opportunities and threats.
Opportunity (SWOT External) - ANSWER Can result from
changes within the market, customer lifestyle changes,
advances in technology, or new production methods.
Threat (SWOT External) - ANSWER External factors beyond your
control and can originate in the supply chain, from changes in
consumer behavior, from the economic cycle, etc.
Types of External Environments (3) - ANSWER Market - sector
you supply goods/ services to
Ecosystem - something that exists beyond the market per say.
Includes current and future technologies as well as current and
proposed business models
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Third parties - suppliers, partners, and competitors,
government, regulatory bodies, the media, or any other group
that you need to deal with in the course of doing business.
PEST Analysis - ANSWER Simple/ widely used tool to analyze the
Political, Economic, Socio-Cultural, and Technological changes in
your business environment. Helps you understand the "big
picture" forces of change that you're exposed to and take
advantage of the opportunities that they present to create a
competitive advantage.
Industry Analysis - ANSWER Tool that facilitates a company's
understanding of its position relative to other companies with
similar products/ services. It can aid in strategic planning.
Porter's 5 Forces - ANSWER 1. Competitive Rivalry (# and
strength of competitors)
2. Supplier Power (how easy it is for your suppliers to increase
their prices)
MNGT 4800 Test 2 Adams Questions with 100% Correct
Answers
How external analysis contributes to SWOT - ANSWER External
factors include the environment your organization operates in,
its market, ecosystem, and all of the third parties involved. It
encompasses opportunities and threats.
Opportunity (SWOT External) - ANSWER Can result from
changes within the market, customer lifestyle changes,
advances in technology, or new production methods.
Threat (SWOT External) - ANSWER External factors beyond your
control and can originate in the supply chain, from changes in
consumer behavior, from the economic cycle, etc.
Types of External Environments (3) - ANSWER Market - sector
you supply goods/ services to
Ecosystem - something that exists beyond the market per say.
Includes current and future technologies as well as current and
proposed business models
, 2|Page
Third parties - suppliers, partners, and competitors,
government, regulatory bodies, the media, or any other group
that you need to deal with in the course of doing business.
PEST Analysis - ANSWER Simple/ widely used tool to analyze the
Political, Economic, Socio-Cultural, and Technological changes in
your business environment. Helps you understand the "big
picture" forces of change that you're exposed to and take
advantage of the opportunities that they present to create a
competitive advantage.
Industry Analysis - ANSWER Tool that facilitates a company's
understanding of its position relative to other companies with
similar products/ services. It can aid in strategic planning.
Porter's 5 Forces - ANSWER 1. Competitive Rivalry (# and
strength of competitors)
2. Supplier Power (how easy it is for your suppliers to increase
their prices)
