mgm399 quiz 2

internal environmental factors to consider.

In the SWOT framework, the Strengths and Weaknesses are ________________

understand the profit potential of industries.

. The primary objective of Porter's five forces model is to ___________

1. value 2. cost

A firm's strategic position relates to its ability to create ______for customers while containing the ____ to do so.

1. interdependent 2. monitor and respond

Because competitors in oligopolistic industries are so ___________ it is especially important for managers in those firms to_____________ and ________ to changes their competitors make.

1. differ 2. more 3. strategic group membership.

Even within the same industry, firm performances _________ depending on strategic group membership. Some strategic groups tend to be ________ profitable than others. This difference implies that firm performance is determined not only by the industry to which the firm belongs, but also by its ______________________

population characteristics

In a firm's external environment, sociocultural trend primarily capture ______________ related to age, gender, family size, ethnicity, sexual orientation, religion, and socioeconomic class.

external factors external forces

Managers have some influence over _________ in the Industry environment; they have little direct effect over ___________ in the general environment.

PESTEL macro

The _________ framework allows the scanning, monitoring, and evaluating of changes and trends in a firm's _________ environment.

industry convergence.

When smartphone manufacturers began including cameras and voice recorders in their products, that was an example of _________________

Five forces model

______________ views competition within an industry broadly to include forces such as buyers, suppliers, rivals and the threat of substitutes and new entrants.