Pest Quiz
- 1.Used to describe a framework for the analysis of macroenvironmental factors:
- A.
A. PEST Analysis
- B.
B. SWOT Analysis
- C.
C. Case Analysis
- D.
Option 4
- 2.PEST stands for:
- A.
A. Political, Economic, Social, Technological
- B.
B. Political, Strength, Economic, Technological
- C.
C. Political, Strength, Economic, Threat
- D.
Option 4
- 3.The following are examples of Economic Factors except:
- A.
A. Economic growth
- B.
B. Interest rates
- C.
C. Trade restrictions and tariffs
- D.
Option 4
- 4.Which of the following is considered as a Social Factor?
- A.
A. Career attitudes
- B.
B. R&D activity
- C.
C. Environmental regulations
- D.
Option 4
- 5.These factors include demographic and cultural aspects of the external macroenvironment and affect customer needs and the size of potential markets.
- A.
A. Economic Factors
- B.
B. Political Factors
- C.
C. Social Factors
- D.
Option 4
- 6.1. Which of the following is not considered as an internal strength of firms that succeed in cost leadership
- A.
A. High level of expertise in manufacturing process engineering.
- B.
B. Efficient distribution channels
- C.
C. Access to leading scientific research
- D.
Option 4
- 7.This type of strategy calls for the development of a product or service that offers unique attributes that are valued by customers:
- A.
A. Cost leadership Strategy
- B.
B. Differentiation Strategy
- C.
C. Focus Strategy
- D.
Option 4
- 8.This strategy concentrates on a narrow segment and within that segment attempts to achieve either a cost advantage or differentiation.
- A.
A. Cost leadership Strategy
- B.
B. Differentiation Strategy
- C.
C. Focus Strategy
- D.
Option 4
- 9.True or False: A smaller number of firms increase rivalry because fewer firms must compete for the same customers and resources.
- A.
A. True
- B.
B. False
- C.
Option 3
- D.
Option 4
- 10.This indicates the percent of market share held by the four largest firms
- A.
A. Concentration Ratio
- B.
B. Market Ratio
- C.
C. Competition Ratio
- D.
Option 4
- 11.A high concentration ratio indicates that a high concentration of market share is held by the largest firms. This means:
- A.
A. The industry is concentrated
- B.
B. The industry is characterized by many rivals
- C.
C. The industry is close to a monopoly
- D.
Option 4
- 12.True or False: Low switching costs increases rivalry. When a customer can freely switch from one product to another, there is a greater struggle to capture customers.
- A.
A. True
- B.
B. False
- C.
Option 3
- D.
Option 4
- 13.This term refers to a market in which there are many suppliers and one buyer.
- A.
A. Monopoly
- B.
B. Monopsony
- C.
C. Monomarket
- D.
Option 4
- 14.Barriers to entry arise from the following sources except:
- A.
A. Government
- B.
B. Patents and Propriety knowledge
- C.
C. Asset specificity
- D.
D. None of the above
- 15.1. It’s NOT easy to enter an industry if there is:
- A.
A. Patented of propriety know-how
- B.
B. Difficulty in brand switching
- C.
C. Restricted distribution channels
- D.
D. All of the above
- 16.An industry is difficult to enter if there is:
- A.
A. Patented of propriety know-how
- B.
B. Difficulty in brand switching
- C.
C. Restricted distribution channels
- D.
D. All of the above
- 17.According to Schumpeter and Porter, dynamism of markets is driven by:
- A.
A. Price
- B.
B. Innovation
- C.
C. Technology
- D.
Option 4
- 18.1. It’s the primary context of industry rivalry.
- A.
A. Business unit level
- B.
B. Market level
- C.
C. Competitor’s level
- D.
Option 4
- 19.This statement describes the company’s business vision, including the unchanging values and purpose of the firm and forward-looking visionary goals that guide the pursuit of future opportunities.
- A.
A. Mission statement
- B.
B. Vision statement
- C.
C. Objective statement
- D.
Option 4
- 20.This is related to the firm’s business position, and may include measures such as market share and reputation.
- A.
A. Financial objective
- B.
B. Strategic objective
- C.
C. Business objective
- D.
Option 4
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