Chapter 7: The External Audit

Question 1

How many elements are there in the model of competition?

Accepted Answer

C. 5

Question 2

How many advantages of a strong dollar?

Accepted Answer

C. 10

Question 3

What are the key external forces that affect all products, services, customers, and markets?

Accepted Answer

A. social, cultural, demographic, and natural environment forces

Question 4

It uses software to mine huge volumes of data and helps executive make decisions

Accepted Answer

D. Business Analytics

Question 5

How many steps of external factor evaluation that can be developed?

Accepted Answer

B. 5

Question 6

It focus on competitive advantage of strategies over other firms

Accepted Answer

A. rivalry among competing firms

Question 7

This is part of the political, government, and legal variables

Accepted Answer

B. local, state and national elections

Question 8

Identifies firm's major competitors and their strengths and weaknesses in relation to sample firm's strategic positions

Accepted Answer

C. Competitive profile matrix

Question 9

Act as an obstacle for business wanting to enter a market?

Accepted Answer

A. Barriers to entry

Question 10

what is the term educated assumptions about future trends and events?

Accepted Answer

B. Forecast

Questions 10