BAD 4013 Final Exam OU || 100% Error-free Answers.
Strategic Management Process correct answers - vision, mission, and objectives
- internal and external analysis
-strategy formulation
- strategy implementation
- evaluation performance
Political/Legal Segment correct answers - employee regulations
- tax policies
- trade restrictions
- tariffs
- consumer protection laws
- labor training laws
Economic Segment correct answers - interest rates
- inflation rates
- gross domestic product
- unemployment rates
- levels of disposable income
- growth or decline of the economy
Demographic Segment correct answers -population size
- age structure
-ethnic mix
-geographic distribution
-income distribution
Sociocultural Segment correct answers -attitudes
-cultural values
-lifestyles
Technological Segment correct answers -product innovation
-increases in automation
-applications of knowledge
-focus on private and government-supported R&D expenditures
-new communication technologies
Global Segment correct answers -important international political events
-increasing global trade
-trade agreements
Sustainable Physical Environment correct answers -natural disasters
-weather patterns
-climate change
-reduction of environmental impact
Threat of Entry correct answers Mitigated by barriers to entry
-Economics of scale
-Product differentiation
, -Capital requirement
-Switching costs
-Access to distribution channels
-Cost advantages independent of scale
-Government policy
-Expected retaliation
Threat of Rivalry correct answers High Rivalry = Zero-sum Competition
-Numerous or equally balanced competitors
-Slow industry growth
-High fixed or storage costs
-Lack of differentiation or switching costs
-Capacity added in large increment
-High exit costs
-Product is perishable
Threat of Substitutes correct answers Strong threat with:
-low switching costs
-substitute has lower price
-close substitutes
Threat of Suppliers correct answers Facilitating Supplier Power:
-Few large suppliers
-Few substitutes
-Industry is not a significant customer of supplier
-Supplier's goods are important to industry
-High switching costs
-Supplier's goods are differentiated
-Supplier may integrate forward into focal industry
Threat of Buyers correct answers Facilitating buyer power:
-Few buyers or large-volume purchases
-Buyer industry earns low profits
-Industry's goods are important to buyer's output
-Few switching costs
-Industry's goods are undifferentiated
-Buyer may integrate backward into focal industry
Implications of Various Threats correct answers - barriers to entry are important regardless of
if you are in the entry
- the major concern with threat of rivalry is price wars
- substitutes fill the same need in a different way
-capturing more value from the firms activities is the major concern of threat of buyers and
suppliers
Role of complements correct answers -products or services that have an impact on the value
of the firm's products or services
-it is possible to be both complimentor and competitor
VRIN Framework correct answers - valuable
Strategic Management Process correct answers - vision, mission, and objectives
- internal and external analysis
-strategy formulation
- strategy implementation
- evaluation performance
Political/Legal Segment correct answers - employee regulations
- tax policies
- trade restrictions
- tariffs
- consumer protection laws
- labor training laws
Economic Segment correct answers - interest rates
- inflation rates
- gross domestic product
- unemployment rates
- levels of disposable income
- growth or decline of the economy
Demographic Segment correct answers -population size
- age structure
-ethnic mix
-geographic distribution
-income distribution
Sociocultural Segment correct answers -attitudes
-cultural values
-lifestyles
Technological Segment correct answers -product innovation
-increases in automation
-applications of knowledge
-focus on private and government-supported R&D expenditures
-new communication technologies
Global Segment correct answers -important international political events
-increasing global trade
-trade agreements
Sustainable Physical Environment correct answers -natural disasters
-weather patterns
-climate change
-reduction of environmental impact
Threat of Entry correct answers Mitigated by barriers to entry
-Economics of scale
-Product differentiation
, -Capital requirement
-Switching costs
-Access to distribution channels
-Cost advantages independent of scale
-Government policy
-Expected retaliation
Threat of Rivalry correct answers High Rivalry = Zero-sum Competition
-Numerous or equally balanced competitors
-Slow industry growth
-High fixed or storage costs
-Lack of differentiation or switching costs
-Capacity added in large increment
-High exit costs
-Product is perishable
Threat of Substitutes correct answers Strong threat with:
-low switching costs
-substitute has lower price
-close substitutes
Threat of Suppliers correct answers Facilitating Supplier Power:
-Few large suppliers
-Few substitutes
-Industry is not a significant customer of supplier
-Supplier's goods are important to industry
-High switching costs
-Supplier's goods are differentiated
-Supplier may integrate forward into focal industry
Threat of Buyers correct answers Facilitating buyer power:
-Few buyers or large-volume purchases
-Buyer industry earns low profits
-Industry's goods are important to buyer's output
-Few switching costs
-Industry's goods are undifferentiated
-Buyer may integrate backward into focal industry
Implications of Various Threats correct answers - barriers to entry are important regardless of
if you are in the entry
- the major concern with threat of rivalry is price wars
- substitutes fill the same need in a different way
-capturing more value from the firms activities is the major concern of threat of buyers and
suppliers
Role of complements correct answers -products or services that have an impact on the value
of the firm's products or services
-it is possible to be both complimentor and competitor
VRIN Framework correct answers - valuable