w6_swot, porter's model

Which of the following describe the systematic and intentional analysis of both a firm's internal state and its external, competitive environment? Value chain Industry analysis strategic positioning Environmental scanning VRIO

Environmental scanning

A firm's internal environment contains elements that can impact the firm but are generally beyond its direct control True False

False

Support activities, according to the value chain, are the actions a firm takes to directly provide a product or service to customers True False

False

______ is a tool that reminds managers to look at several distinct categories in the macro environment. VRIO Porter's PESTEL Value chain SWOT

PESTEL

ABC Products is good at marketing its sports products. This describes ABC's opportunities Strength weaknesses Threats external competencies

Strength

"T" in the SWOT analysis stands for ______. trade Terminal Threat teamwork time

Threat

A firm's strategic position should try to be unique in some way that competitors cannot imitate quickly or easily True False

True

To achieve a competitive advantage over rivals in the industry, the successful cost leader tightly controls costs throughout its value chain activities. True False

True

To react to change more easily and develop products consumers want, managers and consultants engage in environmental scanning True False

True

A firm's ______ environment includes components inside the firm and outside the firm. internal external economic competitive socio-cultural

competitive