Management leading and collaborating in a competitive world 11th edition by bateman and snell test bank

AACSB: Analytic Blooms: Understand Learning Objective: 02-03 Explain why managers and organizations should attend to economic and social developments... AACSB: Analytic Blooms: Understan

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Management Leading and Collaborating in a Competitive World 11th edition by Bateman and Snell Test Bank

Link full download test bank: leading-and-collaborating-in-a-competitive-world-11th-edition-by-bateman-and- snell-test-bank/

https://findtestbanks.com/download/management-Chapter 02 The External and Internal Environments Answer Key True / False Questions

1 Organizations are open systems that affect and are affected by their external environments

TRUE

Organizations are open systems; that is, they are affected by and in turn affect their external environments For example, they take in inputs from their environment and use them to create products and services that are outputs to their environment, as shown in Figure 2.1

Refer To: Figure 2.1

AACSB: Analytic Blooms: Understand Learning Objective: 02-01 Describe how environmental forces influence organizations and how organizations can influence their

environments Level of Difficulty: 2 Medium Topic: Management Connection

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2 The external environment includes all relevant forces outside the organization's boundaries

TRUE

The term external environment means more than an organization's clients or customers; the external environment includes all relevant forces outside the organization's boundaries

AACSB: Analytic Blooms: Remember Learning Objective: 02-01 Describe how environmental forces influence organizations and how organizations can influence their

environments Level of Difficulty: 1 Easy Topic: Management Connection

3 Strategy is an example of an input to an organization

FALSE

Figure 2.1 shows inputs such as raw materials, services, equipment, capital, and information used by the organization to produce outputs such as products and services

environments Level of Difficulty: 2 Medium

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Topic: Management Connection

4 A firm's competitive environment includes new entrants, as well as substitutes and complements

TRUE

Figure 2.2 shows the external environment of a business organization The organization exists in its competitive environment, which is composed of the firm and its rivals, suppliers, customers (buyers), new entrants, and substitute or complementary products

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5 An organization's macroenvironment includes its customers and suppliers FALSE

Figure 2.2 shows the external environment of a business organization At the more general level is the macroenvironment, which includes legal, political, economic, technological, demographic, and social and natural factors that generally affect all organizations

6 When investors bid up stock prices, companies have less capital to fuel their strategies

FALSE

An important economic influence is the stock market When investors bid up stock prices, they are paying more to own shares in companies, which means the companies have more capital to fuel their strategies

AACSB: Analytic Blooms: Understand Learning Objective: 02-03 Explain why managers and organizations should attend to economic and social developments

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Level of Difficulty: 2 Medium Topic: The Macroenvironment

7 While the stock market can impact a firm, it has no effect on the behavior of individual managers

FALSE

The stock market can have a profound effect on the behavior of individual managers In publicly held companies, managers throughout the organization may feel required to meet Wall Street's earnings expectations

8 Firms that develop strategies that do not include technological advances will realize obsolescence and extinction

TRUE

Today a company cannot succeed without incorporating into its strategy the astonishing technologies that exist and continue to evolve Technological advances create new products, advanced production techniques, and better ways of managing and communicating

AACSB: Analytic Blooms: Understand

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Learning Objective: 02-03 Explain why managers and organizations should attend to economic and social developments

9 U.S government policies both impose strategic constraints and provide

opportunities for organizations

TRUE

U.S government policies impose strategic constraints on organizations but may also provide opportunities The government can affect business opportunities through tax laws, economic policies, and international trade rulings An example

of restraint on business action is the U.S government's standards regarding bribery

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10 Regulatory agencies set rules but are typically weak institutions since they do not have the power to investigate company practices or to take legal action to ensure compliance with the law

FALSE

Regulators are specific government organizations in a firm's more immediate task environment Regulatory agencies have the power to investigate company practices and take legal action to ensure compliance with laws

11 Social metrics are measures of various characteristics of the people who make

up groups or other social units

FALSE

Demographics are measures of various characteristics of the people who make

up groups or other social units Work groups, organizations, countries, markets, and societies can be described statistically by referring to demographic measures such as their members' age, gender, family size, income, education, occupation, and so forth

AACSB: Analytic Blooms: Remember

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Level of Difficulty: 1 Easy Topic: The Macroenvironment

12 The fastest-growing age group in the U.S civilian labor force is the group

between 30 and 40 years old

FALSE

The fastest-growing age group is workers who are 55 and older, who are

expected to represent close to one-fourth of the labor force in 2018

AACSB: Analytic Blooms: Remember Learning Objective: 02-03 Explain why managers and organizations should attend to economic and social developments

13 Despite government crackdowns, immigration is one reason why the labor force will be more ethnically diverse in the future than it is today

TRUE

Immigration is one reason why the labor force in the future will be more ethnically diverse than it is today The demographic importance of immigration intersects with legal issues governing who is permitted to work in the United States

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14 The percentage of women participating in the U.S workforce has increased sharply since 1999

FALSE

Throughout the 1970s and 1980s, women became much more likely to take paying jobs In the 1970s only about one-third of women were in the labor force, but 60 percent had jobs in 1999 Since then, women's labor force participation rate has stayed near that level, declining only slightly

15 A more diverse workforce presents managers with challenges as well as

opportunities

TRUE

A more diverse workforce has many advantages, but managers have to make certain they provide equality for women and minorities with respect to employment, advancement, opportunities, and compensation

AACSB: Analytic Blooms: Understand

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16 Family leave, flexible working hours, and child care assistance have been introduced as a direct result of the growing ethnic diversity in the workplace FALSE

Today more women are having children and then returning to the workforce As

a result companies have introduced more supportive policies, including family leave, flexible working hours, and child care assistance

17 Porter's model for competitive analysis is one example of analyzing the

competitive environment for adapting to and even influencing the nature of competition

TRUE

In strategic decision making, Porter's model is an excellent method to help managers analyze the competitive environment and adapt to or influence the nature of their competition

AACSB: Analytic

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Blooms: Remember Learning Objective: 02-04 Identify elements of the competitive environment

Level of Difficulty: 1 Easy Topic: The Competitive Environment

18 Red Bull, an energy drink, is a competitor to Pepsi

TRUE

Coca-Cola and Pepsi are obvious competitors, but consumer tastes have shifted away from soda to energy drinks and other beverages Thus energy drinks are now a competitor to colas

AACSB: Analytic Blooms: Apply Learning Objective: 02-04 Identify elements of the competitive environment

Level of Difficulty: 3 Hard Topic: The Competitive Environment

19 The first question in understanding competitive environments from Porter's model is "How strong is the competition?"

FALSE

The first question to consider is "Who is the competition?"

AACSB: Analytic Blooms: Remember Learning Objective: 02-04 Identify elements of the competitive environment

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20 A barrier to entry is a condition that prevents customers from using a firm's products or services

FALSE

Barriers to entry are conditions that prevent new companies from entering an industry Some major barriers to entry are government policy, capital requirements, brand identification, cost disadvantages, and distribution channels

21 According to Porter's model, Netflix streaming video would be considered a substitute for Blockbuster DVD rental

TRUE

A substitute is a potential threat; customers use it as an alternative, buying less

of one kind of product but more of another

Refer To: Table 2.1

AACSB: Analytic Blooms: Understand Learning Objective: 02-04 Identify elements of the competitive environment

Level of Difficulty: 2 Medium

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Topic: The Competitive Environment

22 Landscaping products are complements when people are buying new homes TRUE

Besides identifying and planning for substitutes, companies must consider complements for their products When people are buying new homes, they are also buying appliances and landscaping products

Level of Difficulty: 2 Medium Topic: The Competitive Environment

23 Powerful suppliers can increase a buying organization's profits, especially when the organization must hold prices steady for its customers

FALSE

Powerful suppliers can reduce an organization's profits, particularly if the organization cannot pass on price increases to its customers because it cannot raise its prices or provide poor-quality goods and services

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24 Needing to learn a new software program as a result of changing suppliers is an example of a switching cost

TRUE

Dependence on suppliers results from high switching costs, the fixed costs buyers face if they change suppliers For example, once a buyer learns how to operate a supplier's equipment, such as computer software, the buyer faces both economic and psychological costs in changing to a new supplier

25 Input chain management is the managing of the network of facilities and people that obtain materials from outside the organization, transform them into products, and distribute them to customers

FALSE

Supply chain management is the managing of the entire network of facilities and people that obtain raw materials from outside the organization, transform them into products, and distribute them to customers

Level of Difficulty: 1 Easy

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Topic: The Competitive Environment

26 The goal of supply chain management is having the right product in the right quantity at the right place at the right cost

TRUE

Today the goal of effective supply chain management is to have the right

product in the right quantity available at the right place at the right cost

27 The Internet has empowered customers by providing an easy source of

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28 Environmental scanning means sorting through information available to the public to interpret what is important and what is not

FALSE

Environmental scanning means both searching out information that is

unavailable to most people and sorting through that information to interpret what is important and what is not

AACSB: Analytic Blooms: Remember Learning Objective: 02-05 Summarize how organizations respond to environmental uncertainty

Level of Difficulty: 1 Easy Topic: Environmental Analysis

29 Competitive intelligence is also known as corporate espionage

FALSE

Using environmental scanning, managers develop competitive intelligence, the information necessary to decide how best to manage in the competitive environment they have identified

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30 Benchmarking means comparing your processes to the best-in-class

performance by a company in a given area

TRUE

Benchmarking means identifying the best-in-class performance by a company in

a given area, say, product development or customer service, and then comparing your processes to theirs

31 Organizations that are defenders are more likely to engage in strategic

maneuvering than are prospectors

Level of Difficulty: 1 Easy Topic: Responding to the Environment

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32 April, a manager in a call center, encourages her employees to solve customers' problems without her approval of the particular situation Here April has empowered her employees

TRUE

Empowerment is the process of sharing power with employees, thereby enhancing their confidence in their ability to perform their jobs and their belief that they are influential contributors to the organization

AACSB: Analytic Blooms: Apply Learning Objective: 02-05 Summarize how organizations respond to environmental uncertainty

Level of Difficulty: 3 Hard Topic: Responding to the Environment

33 Southwest Airlines demonstrates the independent action strategy known as

competitive pacification by cutting fares when it enters a new market

FALSE

Southwest Airlines demonstrates competitive aggression (exploiting a distinctive competence such as being the low-cost leader) by cutting fares when it enters a new market

Refer To: Table 2.3

AACSB: Analytic Blooms: Apply

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Learning Objective: 02-05 Summarize how organizations respond to environmental uncertainty

Level of Difficulty: 3 Hard Topic: Responding to the Environment

34 In a dynamic environment, bureaucratic organizations are more efficient than organic organizations

TRUE

While bureaucratic organizations may be efficient and controlled if the environment is stable, they tend to be slow-moving and plodding in a dynamic environment in which products, technologies, customers, or competitors are changing over time

AACSB: Analytic Blooms: Understand Learning Objective: 02-05 Summarize how organizations respond to environmental uncertainty

Level of Difficulty: 2 Medium Topic: Responding to the Environment

35 A strong organization culture is one in which everyone understands and

believes in the firm's goals, priorities, and practices

TRUE

Cultures can be strong or weak; strong cultures can have great influence on how people think and behave A strong culture is one in which everyone understands and believes in the firm's goals, priorities, and practices

AACSB: Analytic

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Blooms: Understand Learning Objective: 02-07 Discuss how an organization's culture and climate affect its response to its external environment

Level of Difficulty: 2 Medium Topic: The Internal Environment of Organizations: Culture and Climate

36 Stories told by employees almost never have any connection to the true culture

of the organization

FALSE

The stories people tell carry a lot of information about the company's culture Every company has its myths, legends, and true stories about important past decisions and actions that convey the company's main values

AACSB: Analytic Blooms: Understand Learning Objective: 02-07 Discuss how an organization's culture and climate affect its response to its external environment

Level of Difficulty: 2 Medium Topic: The Internal Environment of Organizations: Culture and Climate

Multiple Choice Questions

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37 Organizations that are affected by and that affect their environment are called

AACSB: Analytic Blooms: Remember Learning Objective: 02-01 Describe how environmental forces influence organizations and how organizations can influence their

environments Level of Difficulty: 1 Easy Topic: Management Connection

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38 Liz, a new manager at Stamford Soft, has been asked to focus on the competitive environment of the organization Which of these factors is among those on which Liz should focus?

environments Level of Difficulty: 3 Hard Topic: Management Connection

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39 The economy is a crucial component of the macroenvironment Which of the following statements is most true about economic macro effects?

A The impact of changes in the economy is predictable to competitors.

B There are complex interconnections among the economies of different

countries

C Changes in the economy are impossible to quantify.

D High-level managers have little awareness of economic indicators.

E The economy has no macro effects on managers.

Although most Americans think in terms of the U.S economy, the economic environment for organizations is much larger, created by complex interconnections among the economies of different countries

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40 Interest rates, inflation, the federal deficit, and unemployment levels are all elements in which aspect of the macroenvironment?

A The social environment.

B The demographic environment.

C The international environment.

D The regulatory environment.

E The economic environment

The economic environment dramatically affects managers' ability to function effectively and influences their strategic choices Interest and inflation rates affect the availability and cost of capital, growth opportunities, prices, costs, and consumer demand for products Unemployment rates affect labor availability and the wages the firm must pay, as well as product demand

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41 New methods of communication, production, and even the development of entire new industries are the results of the changes in

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42 Advances in genetic engineering and biotechnology are expected to produce some food products that will be available year-round even in northern climates This provides grocers an opportunity to reduce shipping costs while at the same time offering fresher produce to customers These advances are an example of changes in the

AACSB: Analytic Blooms: Apply Learning Objective: 02-03 Explain why managers and organizations should attend to economic and social developments

Level of Difficulty: 3 Hard Topic: The Macroenvironment

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43 Managers with ready access to information

A Increase costs.

B Are able to manage and communicate more effectively

C Are in danger of losing power to rivals or suppliers.

D Decrease their span of control.

E Always increase sales.

Technological advances have created better ways of managing and communicating This leads to the speed with which information can be exchanged, thus giving managers with ready access to information a significant competitive edge

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44 Using international bribery as a business tactic may result in fines for U.S firms This statement reflects which type of environmental force at work?

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45 Armando was recently hired as the workplace safety compliance officer at Preston Mining Company Armando will have the responsibility to monitor regulations from which of these government agencies?

AACSB: Analytic Blooms: Apply Learning Objective: 02-03 Explain why managers and organizations should attend to economic and social developments

Level of Difficulty: 3 Hard Topic: The Macroenvironment

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46 The SEC recently proposed regulations requiring companies to disclose more details about executive compensation This illustrates an important interaction between organizations and their relevant

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47 Measures of various characteristics of the people who make up groups or other social units are called

Demographics are measures of various characteristics of the people who make

up groups or other social units Work groups, organizations, countries, markets, and societies can be described statistically by referring to demographic measures such as their members' age, gender, family size, income, education, occupation, and so forth

AACSB: Analytic Blooms: Remember Learning Objective: 02-03 Explain why managers and organizations should attend to economic and social developments

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48 Which of the following statements about workforce demographics is true?

A Training of entry-level workers is not needed in today's modern workplace.

B Workforce demographics have little to do with human resource strategies.

C Older, experienced workers are likely to be relatively scarce over the next five years.

D Population growth influences the size and composition of the labor force

E Technical tasks can be sent overseas to be accomplished, but companies usually then have to pay more for labor.

Population growth influences the size and composition of the labor force In the decade from 2008 to 2018, the U.S civilian labor force is expected to grow at a rate of 8.2 percent, reaching 166.9 million This growth is slower than during the previous decade

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49 trends regarding how people think and behave have major implications for management of the labor force, corporate social actions, and strategic decisions about products and markets

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50 A company that is concerned with the quantity and quality of resources

available for its business processes will investigate which factor in the

macroenvironment?

A The natural environment

B The social environment.

C The demographic environment.

D The regulatory environment.

E The economic environment.

Directly or indirectly, organizations depend on the natural environment to provide them with resources When the quantity is depleted or the quality is damaged, costs for resources skyrocket

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51 Which of the following is an element of Porter's model for analyzing the

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52 The competitive environment consists of

A The firm and its rivals, suppliers, customers (buyers), new entrants, and

substitute or complementary products

B Only those organizations on which the focal organization to provide supplies and materials.

C The workers of the organizations that complete the organization's activities.

D The organizations that hold the firm accountable to their stakeholders.

E The broader influences that affect a firm's competitive advantage.

As shown in Figure 2.4, the competitive environment includes rivalry among current competitors and the impact of new entrants, substitute and complementary products, suppliers, and customers

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53 A firm's current competition, suppliers, customers, and the threat of new

entrants or of substitutes are all elements in the

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54 A low-cost airline described as one of the excellent companies in the bestseller

of the early 1980s, In Search of Excellence, is no longer in business Industry analysts state that although the service and prices provided by the airline were what customers wanted, the larger airlines were able to drive the low-cost airline out of business through an aggressive price war This scenario is illustrative of which aspect of the competitive environment?

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55 Walmart recently engaged Amazon.com in a price war, offering best-selling books for first $10, then $9; and now Target has jumped into the war with best sellers for $8.98 This scenario is an example of which aspect of the competitive environment?

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56 Which of the following is a competitor that a mass merchandiser like Target must identify and anticipate the actions of?

B Mass merchandiser suppliers.

C Wholesale outlets like Sam's or Costco

D Companies entering new markets.

E All of these are potential competitors.

Major competitors to Target include wholesale clubs The other choices in the question are not rival firms, so they are not competitors

AACSB: Analytic Blooms: Apply Learning Objective: 02-04 Identify elements of the competitive environment

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