Strategic Management Quiz 4

In a firm's external environment, _____ primarily capture population characteristics related to age, gender, family size, ethnicity, sexual orientation, religion, and socioeconomic class. A. economic trends B. political trends C. demographic trends D. ecological trends

demographic trends

The _____ provides a model for managers' scanning, monitoring, and evaluation of changes and trends in a firm's macro environment. A. BCG Matrix B. SWOT Analysis C. PESTEL Framework D. VIRO Framework

PESTEL Framework

Which of the following external forces is a part of a firm's task environment? A. The inflation level in the economy in which the firm operates B. The interest rates prevalent in the economy in which the firm operates C. The recent innovations in process technology, including lean manufacturing D. The composition of the strategic group to which the firm belongs

The composition of the strategic group to which the firm belongs.

Which of the following do the sociocultural forces in a firm's external environment best represent? A. laws protecting small enterprises in a nation B. The rate of employee attrition within the firm C. The family size of the firm's target market D. The interest rates prevalent in an economy

The family size of the firm's target market

Which of the following represents an economic factor in a firm's external general environment? A. The bargaining power of the firm's suppliers and buyers B. The stage of the business cycle that the country is in C. The values and norms prevalent in the society in which the firm operates D. The government regulations and laws in the country in which the firm exists

The stage of the business cycle that the country is in. The overall economic growth rate is a measure of the change in the amount of goods and services produced by a nation's economy. It indicates what stage of the business cycle the economy is in—that is, whether business activity is expanding (boom) or contracting (recession).

What is most likely to happen when there is too much money in an economy? A. There is an increase in prices. B. There is a drop in interest rates. C. There is high economic growth. D. There are too many goods and services

There is an increase in prices.