Bus-470 Final Exam Review

Bus-470 Final Exam Review
Which of the following stages of the strategic management process involves an evaluation of a firm's
external and internal environments? - strategy analysis
Which of the following statements accurately describes firm effects? - They attribute firm
performance to the actions strategic decision makers take within a chosen industry
Which of the following is a central focus of strategy? - building and maintaining a competitive
advantage
Which of the following forces is most closely related to industry effects within the automobile
industry? - the types of products and the services offered within the industry
Rachel Corp supplies almost all the demand for a component needed by TMC inc. Rachel Corp is, for
TMC, - an important external stakeholder
Comapred to when Tesla's vision was first formulated in 2006, the electric car industry has changed in
what way? - Numerous competitors have entered the industry
Over the past 40 years which of the following stakeholders' needs have been dominant for businesses
in the U.S.? - Shareholders
Influence is exercised by those with - Superior knowledge and insight
good communication skills
resources they can allocate
all of the above