jljh

What is the range for firms total weighted score in a competitive profile

1 to 4

What is the range for a firms total weighted score in a external factor evaluation matrix?

1-4

a total weighted score of ____ in an external factor evaluation (EFE) Matrix indicates that an organization is responding in an outstanding way to existing opportunities and threats in its industry

4

One difference between a competitive profile matrix (CPM) and an external factor evaluation (EFE) Is that

CPM includes both internal and external issues

The weights and total weighted scores in a competitive profile matrix (CPM) have the same meaning the weights and total weighted scores in a

External Factor Evaluation (efe)

According to I/O theorists, which of the following contributes LEAST to firm's performance?

Internal Resources

When using external factor evaluation matrix, what is done after multiplying each factors weight by its rating to determine a weighted score?

Summing the weighted scores for each variable to determine the total weighted score for the organization

A characteristic that describes the most competitive companies is adopting the adage, "whether its broke or not, fit it" in other words, continually strive to improve everything about the firm

True

External audits attempt to identify

actionable responses

A ____ integration strategy is used by firms to gain control or ownership of suppliers

backward

If suppliers are unreliable or too costly, which of these strategies may be appropriate?

backward integration

What is NOT of michael porters five competitive forces?

bargaining power of union

The critical success factors in a competitive profile matrix and EFE matrix include

both internal and external issues

External audits attempt to identify key variables that offer highly intuitive responses

false

Erosion of the U.S. manufacturing base is reflected in the sharp increase in labor union membership in the last decade

flase

To perform an external audit, a company first

gather competitive intelligence and info about external trends.

May economists say the current rash of trade constraints will make it _______ for global economic growth.

harder

A weak dollar means

higher exports and lower imports

___ is not a basic mission of a competitive intelligence program

identifying industry executives that could be hired by the firm

what is the first step in designing an external factor evaluation matrix?

indentifying external factors

Intensity of competition ___ in lower-return industries

is highest

The industrial organization approach to competitive advantage advocates that external factors are _____ internal factors in a firm achieving competitive advantage

more important

according to porter, what is usually the most powerful of the five competitive forces

potential entry of new competitors

collecting and evaluating the information on competitors is essential for successful

strategy formulation