Brainscape's Knowledge GenomeTM

Browse over 1 million classes created by top students, professors, publishers, and experts.


See full index

GOODLUCK > Quis Econ > Flashcards

Quis Econ Flashcards

1
Q

relating to any activity of creating, buying or
selling any kind of commodities or even providing
services to prospect buyers or clients.

A

Business

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
2
Q

the lifeblood of any country’s economy. For this
reason, the topic on identification of business opportunities
through analysis of industry and environment, is a relevant
topic to be considered in the discussion

A

Business

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
3
Q

include inflation rates, interest
rates, trade deficits or surplus, personal savings rate and
gross domestic product. These segments are all related

A

Economic segment

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
4
Q

covers antitrust laws, taxation
laws, deregulation philosophies, labor training laws, and
educational philosophies and policies.

A

Political/legal segment

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
5
Q

interests are women in the
workforce, workforce diversity, and attitudes about the
quality of work lifso

A

Sociocultural segments’

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
6
Q

pertains to product innovations,
application of knowledge, focus of private and
government.

A

Technological segment

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
7
Q

those related to important political
events, critical global markets, and newly industrialized
countries, different cultural and institutional attributes.

A

Global segments

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
8
Q

concerns are energy
consumption, practices used to develop energy sources,
renewable energy efforts, minimizing a firm’s
environmental footprint, availability of water as a
resource, and producing environmentally friendly
produc

A

Physical Environmental segments

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
9
Q

the message of
this segment on physical environment.

A

The care of mother nature

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
10
Q

These segments are all relatedto determine how the economy performs

A

Economic segmen

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
11
Q

segments
relate to the functions of the government in monitoring
the different economic and business related activities. The
government takes care of the proper use of its economic
resources

A

Political segment

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
12
Q

This segment focuses on the role of
the human resources, its development and the society

A

Sociocultural segment

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
13
Q

This segment supported R&D expenditures.
Modern technology aims to increase production with
limited cost.

A

Technological segments

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
14
Q

This segment indicates the importance of understanding
the political, cultural, and economy of other countries in
order to compete in the international market

A

Global segment

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
15
Q

population size, age
structure, geographic distribution, ethnic mix, and
income distribution. U

A

Demographic segment

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
16
Q

A company’s power is affected by the force of new entrants
into its market

A

The threat of new entrants

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
17
Q

This specifically deals with the ability of the customers to
drive prices down.

A

The Power of Buyers

18
Q

powerful when there is no competition with
substitute products and the products make up an important part
of their buyers’ businesses.

A

Supplier

19
Q

have the power to drive competition up they
threatening to increase their products or services’ prices or to
reduce the quality of the goods they provide.

A

Suppliers

20
Q

Goods that
are interchanged with another
good.

A

Substitute goods

21
Q

Competitors substitutions that can be used in place of a
company’s products or services pose a threat

A

The Threat of Product Substitutes

22
Q

EXAMPLE: In the cosmetic industry, Avon and Mary Kay
have been two of the famous make up brands in the country.
But the entry of cosmetics brands that use organic and natural
ingredients has brought noticeable changes in the landscape
of the makeup industry

A

The threat of new entrants

23
Q

If customers rely on a company to provide a tool
or service that can be substituted with another tool or service or by
performing the task manually, and this substitution is fairly easy
of low cost, a company’s power can be weakened.

A

Threat of Product Substitutes

24
Q

The importance of this force is the number of competitors
and their ability to threaten a company.

A

The Intensity of Rivalry Among Competitors

25
Q

Coca-Cola Co. and Pepsi Cola Co. have been
famous rivals in the soft drinks market.

A

The Intensity of Rivalry Among Competitors

26
Q

involves the interaction of six factors:
concentration, diversity of competitors, product differentiation,
excess capacity, exit barriers, and cost conditions

A

Aggressive rivalry

27
Q

pertains to the number and size of
distribution of firms. In industries dominated by one or
two firms

A

Concentration

28
Q

This factor identifies firms’
differences in goals, strategies, objectives, and costs
structures – elements can drive competition

A

Diversity of Competitors.

29
Q

Firms need to make their
products unique so these will stand out in the market

A

Product Differentiation.

30
Q

Refers to a firm’s ability to create more
products then what customers demand.

A

Excess Capacity

31
Q

What high exit barriers do is that they
prevent a firm from exiting an industry. This makes firms
operate at a marginal profit or loss, driving competition
even higher.

A

Exit barriers

32
Q

Excess capacity causes price
competition. When costs are high, e.g., fixed costs relative
to variable costs, companies can adjust their prices if
there are no other hindrances to do so.

A

Cost conditions

33
Q

The five mentioned factors is also known as the

A

PORTER’S FIVE FORCES OF COMPETITIVE POSITION
ANALYSIS.

34
Q

framework or a guide for assessing
and evaluating the competitive strength and position of a
business organization

A

It was developed in 1979 by Michael E. Porter of
Harvard Business School

35
Q

created in the 1960’s by business
gurus, Edmund P. Learned, Roland Christensen, and Kenneth
Andrews in their book, Business Policy, Text, and Cases

A

Swot analysis

36
Q

an
analytical framework that can help a company meet its challenges
and identify new market

A

Swot

37
Q

simple but useful framework for analyzing
the organization’s strength and weaknesses, and the opportunities
and threats. It h

A

Swot analyasis

38
Q

can re-state its vision and mission and
eventually formulate and develop more effective
strategies

A

Stregth

39
Q

re-channel the use
of its current resources to other productive use, and
minimize the loss. An

A

Weakness

40
Q

influenced by internal or external
reasons.

A

Threats

41
Q

Whats the differ betwren stakeholder and shareholder?

A

A shareholder is someone who owns stock in your company, while a stakeholder is someone who is impacted by (or has a “stake” in) a project you’re working on.

GOODLUCK (27 decks)

Brainscape helps you reach your goals faster, through stronger study habits.
© 2024 Bold Learning Solutions. Terms and Conditions