MGT Chapt 6

What type of forces would be at play if there were a major, sustained dip in the United States' stock market?

Economic

Managers today compete in a truly global marketplace. Which of the following are challenges managers face as a result of this global competition? (Choose all that apply.)

Establishing operations in a foreign country Managing in a different national culture Obtaining inputs from foreign suppliers

What are the general and specific forces that create the competitive environment that connects and integrates economic, political, and social systems across countries, cultures and regions?

Globalization

In order to compete in the 21st century, companies must compete ________.

Globally

What are the main barriers to entry facing competitors in a task environment? (Choose of that apply.)

Government regulations Brand loyalty Economies of scale

Within the task environment, who is it that purchases the goods and services produced by companies? (Choose all that apply.)

Individuals Groups Global companies

What economic forces affect the general health and well-being of a country or region? (Choose all that apply.)

Inflation Unemployment rates Interest rates Economic growth

When a potential competitor is considering entering the task environment, how does it impact existing organizations?

It becomes a potential rival and threat to profitability.

When a new administration takes office, what forces can impact companies around the world?

Political and legal forces

Which of the following are barriers to entry in the airline industry? (Choose all that apply.)

Regulations that impact domestic vs international airline ownership Cost of purchasing replacement parts that are required for aircraft maintenance Dependence on oil and OPEC's influence on fuel prices

What pressures feed the sociocultural forces that lead to concern for diversity and relationships between people and groups?

Social structure and national culture

The general environment is made up of which of the following wide-ranging forces that affect an organization? (Choose all that apply.)

Sociocultural Technological Political-legal Economic

Who provides organizations with the input resources it needs to produce goods and services?

Suppliers

What are economies of scale?

The cost advantages associated with large operations

What must take place once the supplies have been delivered?

The supplier must receive payment and the manager must check that the supplies delivered are as they should be.

True or false: Technology is the combination of tools, machines, computers, skills, information and knowledge that managers use in the design, production, and distribution of goods and services.

True

True or false: The set of values that a society considers important, with norms that are accepted and approved by that society, is their national culture.

True

The global environment impacts how organizations shape their behavior as a result of: (Choose all that apply.)

a set of forces outside of the organization's boundaries. international laws and demands that impact United States laws and demands on managers and employees.

Potential competitors may have a difficult time entering the task environment because of the factors that make it difficult and costly, which are known as ______.

barriers to entry

In order to be a global organization, what types of organizations need to set up facilities around the world?

both large and small organizations

A customer's preference for the product of a particular company is ______.

brand loyalty

Deregulation can lead to increased ______.

competition

Organizations that are not in a task environment, but could enter if they chose to, are known as potential ______.

competitors

Organizations that produce goods and services that are similar to another organization's goods and services are known as ______.

competitors

Recognizing opportunities in the global supply chain can result in more efficient production. Another result may be reducing the ______ of inputs, generally bringing about higher profitability.

cost

Individuals and groups that buy the goods and services an organization produces are known as ______.

customers

Changes in specific characteristics that define populations such as age, gender, and sexual orientation are all examples of ___________ forces.

demographic

A political or legal force that can lead to increased competition in the task environment is ______.

deregulation

Cora's Market has just started selling Leah's Lemon Bars, a local favorite, and has long sold vegetables from local farms. Cora's market is a ______ for these local businesses.

distributor

Organizations that help other organizations sell their goods or services to customers are called

distributors

The cost advantage associated with large operations, such as a large manufacturing plant or a large company, is known as ______.

economies of scale

True or false: The higher the barriers to entry, the more competitors will exist in the task environment.

false

Demographic forces result from changes in or changing attitudes towards the characteristics of a population. These characteristics include: (Choose all that apply.)

gender. ethnic origin. race. age.

An earthquake leveled part of Tal International, Inc. over the weekend. While Tal International lost their parts department storage room for Tal's growing electric lawnmowers business, their London office had a surplus of parts. Consequently, while the earthquake threatened to impact Tal's production, the fact that the parts department was able to obtain the parts from their London office was an opportunity due to the ______.

global environment

The task environment causes managers to feel day-to-day pressure due to ______.

global suppliers, distributors, customers, and competitors, who represent forces and conditions that fluctuate daily

Globalization has resulted in nations and people becoming ______ because the same forces affect them in similar ways.

increasingly interdependent

To win over new customers and make the customers aware of the product for which a company is trying to establish brand loyalty, the company must invest significant ______.

marketing costs

The ______ culture, defined as the set of values considered important by a society and the norms of behavior approved or sanctioned by that society, can be so strong that they impact how managers treat their employees and run their companies.

national

In general, the potential for ______ a task environment (and thus increase competition) is a function of barriers to entry.

new competitors to enter

Economic, technological, sociocultural, demographic, political, and legal forces in the general environment often have important effects on forces in the task environment that determine an organization's ability to ______.

obtain resources

Economic forces produce many ______ for managers.

opportunities and threats

Outcomes of changes in laws and regulations, such as privatization of services once provided by the government, are considered ______.

political or legal forces

When new competitors enter an industry, competition increases and ______.

profits and prices decrease

The arrangement of relationships between individuals and groups in a society refers to ______.

social structure

The traditional system of relationships among people and groups in a society is a(n) ______.

social structure

A society's social structure or a country's national culture feed the pressures of ______ forces that are concerned with diversity in society or within an organization.

sociocultural

Increased competition forces an organization to focus specifically on its ______ environment.

task

The ______ environment is affected by forces in the general environment, including economic, technological, socioeconomic, etc.

task

The _______ environment most immediately impacts managers and contains the set of forces and conditions that originate with global suppliers, distributors, customers, and competitors.

task

Managers use _____________ to design and produce goods and services with the help of equipment, specific skills, and knowledge.

technology

The higher the barriers to entry in a market,: (Choose all that apply.)

the more difficult it is to enter the task environment. the fewer competitors will exist in that task environment.