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Exam 3: The External Assessment

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Question 61

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External audits attempt to identify key variables that offer highly intuitive responses.

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Question 62

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What is the range for a firm's total weighted score in a Competitive Profile Matrix (CPM) ?

A) 0 to 4
B) 0 to 5
C) 1 to 4
D) 1 to 5
E) 0 to 10

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Question 63

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Forecasts are educated assumptions about future trends and events.

Competition in virtually all industries is

An effective competitive intelligence program allows all areas of a firm to access consistent and verifiable information in making decisions.

The critical success factors in a Competitive Profile Matrix (CPM) and an External Factor Evaluation (EFE) Matrix include both internal and external issues.

Unpublished sources of external strategic information include all of the following EXCEPT

To perform an external audit, a company first must

The historical trend of people moving from the Northeast and Midwest to the Sunbelt and West has dramatically increased.

When the products being purchased are standard or undifferentiated, it results in ________ bargaining power of consumers.

Hawaii, California, and ________ already have no majority race or ethnic group.

By 2075, the United States will have no racial or ethnic majority.

What are the five major types of external forces that should be examined as part of an external audit? Give an example of each type of force.

It is predicted that, by 2050, over 20 percent of the population in the United States will be 65 years or older.

An external audit focuses on identifying and evaluating trends and events within the control of management.