Lecture 3 - Internal and External Environments Flashcards
Which components are part of the internal environment?
1. Strengths
2.Opportunities.
3. Weaknesses.
4. Threats.
- Strengths
- Weaknesses.
The internal environment includes things that are….
1. not within the Company’s control.
2. within the company’s control.
- within the company’s control.
What are ways to assess strengths and weaknesses?
1. Assessing the components of the internal environment.
2. The value chain.
3. Benchmarking.
4. All of the above.
- All of the above.
Which component is not part of the internal environment?
1. Purchasing resources.
2. Current offer.
3. Past performance.
4. Relations with distributions and partners.
5. Market competition.
- Market competition.
True or false. Do resources lead to competencies?
True.
True or false. The value chain allows us to grasp the competitive advantage of a company by analyzing part of the entity.
False. The value chain allows us to grasp the competitive advantage of a company by analyzing the whole entity simultaneously.
Which activity is not part of the primary activities of the value chain?
1. Inbound logistics
2. Operations
3. Outbound logistics
4. Marketing & Sales
5. Before-sale service
- Before-sale service. The missing 5th primary activiy is after-sale service.
Which activity is not part of the support activities of the value chain?
1. Infrastructure
2. Human Resources
3. Ecological development.
4. Purchasing & proprement.
- Ecological development.
The missing 4th support activity is Technological Development.
What are the benchmarks of the value chain called?
1. Comparison priority analysis.
2. Improvement priority analysis.
3. Strategic priority analysis.
- Strategic priority analysis.
True or false? The external environment does not includes the micro-environment?
False
The micro-environment is…
1. semi-controllable
2. controllable
3. uncontrollable
- semi-controllable
Which organizations tend to control their micro-environment better?
1. The pro-active organizations.
2. The passive organizations.
3. Both control the microenvironment equally as well.
- The pro-active organizations, because they have time to prepare (e.g., to pivot, to face competition effectively)
What is the definition of the PESTEL factors?
1. All factors of the external environment that the organization cannot control, but that may affect supply and demand in a market
2. All factors of the external environment that the organization can control and will affect supply and demand in a market
- All factors of the external environment that the organization cannot control, but that may affect supply and demand in a market (Political, Economic, Social, Technological, Ecological and Legal factors).
Which one of the following do you not consider when looking at the internal environment? (multiple answers are possible)
1. Your company mission
2. The value chain
3. Your current product offering
4. The political regulations affecting your industry
5. Your past performance
6. How you benchmark against competitors
- The value chain
- Your current product offering
- Your past performance
- How you benchmark against competitors
If you benchmark your company against competitors, which of the following should worry you (multiple answers are possible)
1. Activities that are strategically important that I excel at
2. Activities that are strategically unimportant that I excel at
3. Activities that are strategically important that I underperform on
4. Activities that are strategically unimportant that I underperform on
All of the above.
Which of the following is considered a primary activity on the value chain? (multiple answers possible)
1. Human resources
2. Infrastructure
3. After-sale service
4. Political lobbying
- Human resources
- Infrastructure
- After-sale service
A business is concerned that inflation is (A) increasing their cost of goods (B) making consumers reluctant to try their new product.
Which of the following is true:
1. Both A and B are weaknesses
2. Both A and B are threats
3. A is a weakness, B is a threat
4. B is a weakness, A is a thread
- Both A and B are threats
A business has recently acquired a new warehouse. This new warehouse allows them to store more raw materials for production and ship goods to customers easier. This is an example of a:
1. Strength
2. Weakness
3. Opportunity
4. Threat
- Strength
Prose is a company that sells custom haircare. Which of the following could you correctly call an ”opportunity” for Prose? (Multiple answers are possible)
1. The opportunity to launch a new skincare line
2. The opportunity to run an ad in the Superbowl
3. The opportunity caused by consumer’s increasing interest in customized products
4. The opportunity to use AI to improve the customization of our formulas
5. The opportunity caused by technological improvements that make it easier to sell and ship from an online storefront.
- The opportunity caused by consumer’s increasing interest in customized products.
- The opportunity caused by technological improvements that make it easier to sell and ship from an online storefront.
