STR: 581: Ch 3: Evaluating a Company's External Environment exam 2022/2023

All companies operate in a broad _______-environment that is made up of six components, including political factors and technical factors. macro What acronym serves as a reminder of the components of a company's ...

All companies operate in a broad _______-environment that is made up of six components, including political factors and technical factors. macro What acronym serves as a reminder of the components of a company's macro-environment? PESTEL Strategically relevant factors have a bearing on the ______ direction of any given company. long-term Which of the following are strategically relevant macro-environment factors affecting cigarette producers? 1. cultural stigma 2. cigarette taxes 3. antismoking ordinances Which of the following is an example of a sociocultural force that affects companies? the trend towards healthier lifestyles Which of the following components form part of a company's macro-environment? 1. sociocultural forces 2. legal/regulatory conditions 3. political factors Which of the following concepts are analytic tools for assessing a company's industry and competitive environment? 1. strategic group mapping 2. driving forces 3. the value net The "L" in PESTEL analysis stands for ____ legal/regulatory conditions Which fo the following are outlines in the five forces model of competition? 1. customer bargaining power 2. competition from rival sellers 3. supplier bargaining power True or false: Strategically relevant factors typically exist only within a company's industry boundaries false Which of the following are factors that affect the intensity of rivalry among competing sellers within an industry? 1. substitutes 2. suppliers 3. new entrants When devising long-term strategies, companies in the restaurant industries must pay special attention to changes in ____. 1. lifestyles 2. eating habits 3. leisure time preferences Minimum wage legislation tends to affect _____ industries more than others. labor-intensive