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Practice Quiz
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1
The immediate environment surrounding a firm including suppliers, customers, rivals, and new entrants is called the
A)business atmosphere.
B)relational environment.
C)competitive environment.
D)macroenvironment.
E)business situation.
2
Which of the following is NOT an uncontrollable environmental factor that can affect an organization?
A)recession
B)contamination of raw material sources
C)government interference
D)demographic changes in the labor force
E)cost leadership strategy
3
How are technology and its advancement vital to a company's survival?
A)It reduces competition.
B)It reduces employee turnover.
C)It increases internal stability.
D)It creates new products and opportunities.
E)It increases compensation and hiring.
4
The age, education, and skill levels of those in the workforce are important __________ measures for managers.
A)social
B)demographic
C)benchmarking
D)supply chain
E)biological
5
The components of Porter's competitive environment model include rivalry among current competitors, and the impact of the new entrants, customers, suppliers, and
A)all levels of management.
B)substitute and complementary products.
C)marketing.
D)government agencies.
E)divisions and business units.
6
According to Porter's competitive environment model, high switching costs increase
A)the power of suppliers.
B)efficiency of supply chain management.
C)barriers to entry.
D)customer satisfaction.
E)the likelihood of new entrants.
7
In deciding to expand or downsize a business, firms may try to predict future levels of demand for a product, which is an example of
A)environmental planning.
B)scenario development.
C)benchmarking.
D)forecasting.
E)dynamism.
8
Apple was successful in its strategy of ________ when it reduced its dependence on personal computers, and ventured into portable music and phones.
A)diversification.
B)divestiture.
C)merging.
D)domain selection.
E)integration.
9
When clothing retailers reduce prices to clear out last season's merchandise to make room for new inventory, they are
A)stocking.
B)warehousing.
C)buffering.
D)ramping.
E)smoothing.
10
Which type of culture is externally oriented and flexible, with an emphasis on growth, resource acquisition, and innovation?
A)weak
B)rational
C)adhocracy
D)strong
E)hierarchical







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