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Exam 2: Analyzing the External Environment of the Firm

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Question 21

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What value is the concept of strategic groups as a tool in analyzing an industry?

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The concept of strategic group...

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Question 22

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Environmental scanning and competitor intelligence provide important inputs for forecasting activities.

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Question 23

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Interest rate increases have a _____ impact on the residential home construction industry and a _____ effect on industries that produce consumer necessities such as prescription drugs or basic grocery items.

Rival airlines, Air Canada and WestJet are battling over allegations of corporate espionage.

Discuss and provide examples of factors that would lead to greater buyer power.

Discuss some of the limitations of forecasting.

SWOT stands for strengths, weaknesses, opponents, and threats.

Competitor intelligence gathering is no different from spying.

The power of a buyer group is increased if the buyer group has less concentration than the supplier group.

Supplier power tends to be highest in industries where products are vital to buyers, where switching from one supplier to another is very costly, and where there are many suppliers.

In the Air Canada-WestJet conflict, the issue is

Exit barriers may arise from

A large fabricator of building components purchased a steel company to provide raw materials for its production process. This is an example of

The origins of scenario planning lie in the military, which used the technique during World War II to effectively cope with multiple challenges, limited resources, and great unpredictability in the unfolding of the war

Several factors usually interact which result in intense rivalry among competitors. Explain.

Managers rarely organize their analysis of and structure their conclusions about their outlook of the environment using the SWOT.

Bombardier studies people's travel patterns to decide on the number of seats they should plan for future aircraft.

The bargaining power of suppliers increases as

A SWOT analysis includes listing

Opportunities and threats are environmental conditions external to the firm. Drawing on any environment you like, provide two examples of opportunities and two examples of threats that may impact an organization.