CHAPTER 2

Question 1

Pertain to all the support services and institutions, typically involved in logistics and communications.

Answer 1

Marketing Intermediaries

Question 2

Distribution channels, such as stores and middlemen, shipping and trucking services, and advertising and media outlets.

Answer 2

Marketing Intermediaries

Question 3

These are the people that have ownership over the firm.

Answer 3

SHAREHOLDERS

Question 4

Can exercise direct influence on operations, whether welcome or not.

Answer 4

SHAREHOLDERS

Question 5

All groups that have a stake in the firm’s operations, including all of the above entities.

Answer 5

STAKEHOLDERS

Question 6

Lesser Influence

Answer 6

STAKEHOLDERS

Question 7

Immediate Neighborhood, local governments, civic groups, and advocacies.

Answer 7

STAKEHOLDERS

Question 8

The one that is met with the most hostility or, at the least, with caution or circumspection.

Answer 8

COMPETITORS

Question 9

Exists to steal market share from one’s firm or even destroy one’s business altogether.

Answer 9

COMPETITORS

Question 10

Seeks to explain competitive pressures within an industry.

Answer 10

PORTER’S FIVE FORCES MODEL

Question 11

Pertains to actual and direct competition that occurs between competing firms in the industry.

Answer 11

INDUSTRY RIVALRY

Question 12

Suppliers can make or break a firm.

Answer 12

BARGAINING POWER OF SUPPLIERS

Question 13

This threat is a function of how great the barrier to entry is to compete in the industry.

Answer 13

THREAT OF POTENTIAL ENTRANTS

Question 14

It is said that while competitors can make a firm’s life miserable, it is the ________ that can actually kill it.

Answer 14

SUBSTITUTES

Question 15

Directly under the control and domain of the firm’s management.

Answer 15

INTERNAL ENVIRONMENT

Question 16

Refers to the totality of a firm’s tangible and intangible resources, capabilities, and potential.

Answer 16

INTERNAL ENVIRONMENT

Question 17

Valuing the customers above everything else.

Answer 17

CORE VALUES

Question 18

What the firm is all about – what it wants to accomplish, how it wants to change the world, and how it seeks to do this.

Answer 18

MISSION AND VISION

Question 19

How is the management of the firm laid out? Are there clear lines of responsibility? Are the managers’ objectives clearly laid out?

Answer 19

MANAGEMENT STRUCTURE

Question 20

Firms who are willing to invest in their ____ _____ by way of better incentives, better quality of life, and more pleasant work environments

Answer 20

HUMAN RESOURCES

Question 21

Properties, plants, and equipment that the firm may have and which represent potential capabilities for the firm.

Answer 21

TANGIBLE RESOURCES

Question 22

Trademarks, intellectual properties, procedures and protocols and trade secrets.

Answer 22

INTANGIBLE RESOURCES

Question 23

Pertain to capacities or the lack of it with regard to the firm’s internal environment.

Answer 23

STRENGTH AND WEAKNESSES

Question 24

Pertain to the trends that can be spotted in the external environment.

Answer 24

OPPORTUNITIES AND THREATS

Question 25

Used to identify how a firm’s distinctive competencies and unique portfolio of resources can be used to take advantage of environmental trends to achieve company goals.

Answer 25

SWOT ANALYSIS

Question 26

Maxi-maxi strategies. These are strategies wherein you use your strengths to take advantage of identified opportunities.

Answer 26

STRENGTHS-OPPORTUNITIES

Question 27

Maxi-Mini. Use your strengths to preemptively minimize potential threats.

Answer 27

STRENGTHS-THREATS

Question 28

Mini-Maxi. You take advantage of identified opportunities to minimize identified weaknesses.

Answer 28

WEAKNESSES-OPPORTUNITIES

Question 29

Mini-mini. Preemptively correct weaknesses that make the firm vulnerable to foreseen threats.

Answer 29

WEAKNESSES-THREATS

Question 30

Function of environmental factors that are at play at any point.

Answer 30

STRETEGY

Question 31

Essential part of the strategic planning process.

Answer 31

TRENDSPOTTING

Question 32

Refers to the external environment at large, featuring elements that are beyond the power and influence of a firm and which reflect realities outside the world.

Answer 32

MACRO ENVIRONMENT

Question 33

Government policies, directions and initiatives that may have an effect on a firm’s operations and well-being.

Answer 33

POLITICAL

Question 34

Cultural facts, norms and behaviors of the groups and sub-groups that need to be considered by the firm.

Answer 34

SOCIO-CULTURAL