Test-Bank-for-Strategic-Management-Concepts-and-Cases-Competitiveness-and-Globalization-11th-Edition-Hitt,-Ireland,-Hoskisson

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 Your text here 1 Comprehension Full file at 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: Full file at 7. When firms analyze the external environment, they typically have complete and unambiguous data. a. True b. False ANSWER: False POINTS: 1 DIFFICULTY: Medium REFERENCES: 40 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 decision-making processes | Bloom: Comprehension 8. Monitoring involves the development of a forecast of what might happen at a future point in time. a. True b. False ANSWER: False POINTS: 1 DIFFICULTY: Easy REFERENCES: 42 LEARNING OBJECTIVES: STMA.HITT.15.02.03 - 02.03 NATIONAL STANDARDS: United States - BUSPROG: Analytic NOTES: AACSB: Business Knowledge & Analytical Skills | Management: Strategy | Dierdorff & Rubin: Managing decision-making processes | Bloom: Knowledge 9. Scanning involves detecting meaning through early signals of environmental trends. a. True b. False ANSWER: False POINTS: 1 DIFFICULTY: Medium REFERENCES: 41–42 LEARNING OBJECTIVES: STMA.HITT.13.Knowledge - Application NATIONAL STANDARDS: United States - BUSPROG: Analytic NOTES: AACSB: Business Knowledge & Analytical Skills | Management: Environmental Influence | Dierdorff & Rubin: Managing decision-making processes | Bloom: Knowledge Comprehension Full file at 10. When Philip Morris International studies the cigarette tax policies of various nations, it is engaged in the forecasting component of the environmental analysis process. a. True b. False ANSWER: False POINTS: 1 DIFFICULTY: Hard REFERENCES: 42–43 LEARNING OBJECTIVES: STMA.HITT.13. - 1.4 NATIONAL STANDARDS: United States - BUSPROG: Analytic NOTES: AACSB: Business Knowledge & Analytical Skills | Management: Environmental Influence | Dierdorff & Rubin: Managing decision-making processes | Bloom: Application 11. The objective of assessing the external environment is to determine the timing and importance of the effects of environmental changes and trends on the strategic management of the firm. a. True b. False ANSWER: True POINTS: 1 DIFFICULTY: Medium REFERENCES: 43 LEARNING OBJECTIVES: STMA.HITT.13.Knowledge - Application NOTES: AACSB: Business Knowledge & Analytical Skills | Management: Environmental Influence | Dierdorff & Rubin: Managing the task environment | Bloom: Knowledge 12. Age structure, geographic distribution, income distribution, interest rates, and process innovations are all elements of concern when studying the demographic segment of the general environment. a. True b. False ANSWER: False POINTS: 1 DIFFICULTY: Medium REFERENCES: 43–46 LEARNING OBJECTIVES: STMA.HITT.13.Comprehension - Comprehension NOTES: AACSB: Business Knowledge & Analytical Skills | Management: Environmental Influence | Dierdorff & Rubin: Managing the task environment | Bloom: Full file at 13. In recent times, business