1. Steel manufacturers would be an example of 'Producers' when analyzing the U.S. automobile manufacturing industry.

True or False?

2. Which of the following would be an example of a Substitute if you were analyzing the breakfast cereal industry to develop strategic recommendations for Kellogg's?

A. General Mills

B. Frozen waffles/breakfast pastries

C. Pizza

D. Granola

3. For the aims of strategic management, which of the following best describes the purpose of doing a Five Forces analysis of a firm's industry?

A. It enables you to identify the how the industry is changing and thus how the firm needs to adapt

B. The purpose is to evaluate if the industry is attractive for entry.

C. The objective is to identify threats and opportunities that can be exploited through innovation.

D. The purpose is to identify the strongest barriers producers face in making superior profits, thus identifying the key success factors for the industry.

4. The most important industry competitive forces to pay attention to are those that are weak.

True or False?