Driving forces analysis has three steps. Identifying what the driving forces are. Assessing whether the drivers of change are acting to make the industry more or loss attractive. Determining what strategy changes are needed to prepare for the impact of the driving forces. All the above. QUESTION 25 Market Entry Barriers Facing Now Entrants. Strength of demand for and availability of suppliers' products. Hard-to-replicate leaming curve and industry relationship cost advantages of incumbents. Whether suppliers provide a differentiated input that enhances the performance of the industry's product. Possibility of backward integration into suppliers' industry. QUESTION 26 Supplier bargaining power depends on: Strength of demand for and availability of suppliers' products. Buyers' knowledge of products, costs and pricing. Buyers' costs for switching to competing sellers or substitutes. Product quality not at issue price is primary concern. Click Save and Submit to save and submit. Click Save All Answers to save all answers. QUESTION 27 What are the five competitive forces? Competition from rival sellers. Competition from potential new entrants. Competition from producers of substitute products. Supplier bargaining power. Customer bargaining power. All the above. QUESTION 28 What is Step 1 in the Five-forces Model of Competition? Evaluate how strong the pressures stemming from each of the five forces are (strong, moderate, or weak). For each of the five forces, identify the different parties involved, along with the specific factors that bring about competitive pressures. Determine whether the five forces, overall, are supportive of high industry profitability. There is unused production capacity, or products have high fixed costs or high storage costs. QUESTION 29 What ie Stan 2 in sho Fiva finmee Madal of Comnatition? Click Save and Submit to save and submit. Click Save All Answers to save all answers. What is Step 2 in the Five-forces Model of Competition? Evaluate how strong the pressures stemming from each of the five forces are (strong, moderate, or weak). Determine whether the five forces, overall, are supportive of high industry profitability. For each of the five forces, identify the different parties involved, along with the specific factors that bring about competitive pressures. High exit barriers keep firms from exiting the industry. QUESTION 30 What is Step 3 in the Five-forces Model of Competition? For each of the five forces, identify the different parties involved, along with the specific factors that bring about competitive pressures. Evaluate how strong the pressures stemming from each of the five forces are (strong, moderate, or weak). Determine whether the five forces, overall, are supportive of high industry profitability. Buyer demand is growing slowly or declining. QUESTION 31 A Competence is. An activity that a firm has learned to perform with proficiency and at an acceptable cost - a true capability, in other words. An activity that a firm performs proficiently and that is also central to its strategy and competitive success. Lick Save and Submit to save and submit. Click Save All Answers to save all answers, A Competence is., An activity that a firm has learned to perform with proficiency and at an acceptable cost-a true capability, in other words. An activity that a firm performs proficiently and that is also central to its strategy and competitive success. A competifively important activity that a firm performs better than its rivals-it represents a competitively superior internal strength. Is something a firm lacks or does poorly (in comparison to others) or a condition that puts it at a competitive disadvantage in the marketplace. QUESTION 32 A SWOT analysis is... A review by the Better Business Bureau To measure the stock market. A tool for identifying situational reasons underlying a firm's performance. To see how a business can cut cost. QUESTION 33 She S in a SWOT analysis stands for: Sales forecast Strength Click Save and Submit to save and submit. Click Save All Answers to save all answers. The three best indicators of how well a company's stratogy is working are: Whether it is achieving its stated financial and strategic objectives. Whether its financial performance is above the industry average. Whether it is gaining customers and gaining market ahare. All the abovo. QUESTION 41 A Cost Driver is... Avoid reducing product quality to unaceeptable levels. Perform value-chain activities more cost-effectively than rivals. A factor with a strong infiuence on a firm's costs. Taking full advantage of experience and leaming-curve effects. QUESTION 42 A value driver can.. Incorporate features that both appeal to buyers and create a sustainably distinctive product offering. Have a strong differentiating effect. Use higher prices to recoup differentiation costs. Brand loyalty that bonds buyers to the differentiating features of the firm's products. Click Sawe and Submit to save and submit. Click Save All Ansuers to save all answers