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AGBS 163 Midterm Study
Terms in this set (25)
In Porter's Five Forces, the 'Threat of new entrants' relates to:
Barriers to entry into an industry are likely to be high if:
Requirement for economies of scale is high
According to Porter's Five Forces, a substitute product or service is:
An alternative way of meeting the same need
From the list below, identify which factor does NOT form one of the six key areas of PEST analysis
Which of the following represents supplier power in Porter's Five Forces model?
High when buyers have few choices of whom to buy from and low when their choices are many
What does Porter's five forces model determine?
The relative attractiveness of an industry
Which of the following is NOT an example of a political risk?
Cost of production
PEST analysis is:
a checklist to ask how political, economical, social or technological developments can influence an industry and a company.
Which of the following SWOT elements are internal factors for a business?
Strengths and Weaknesses
Which of the following could be a strength?
The location of a businesss
Which of the following could be a Weakness?
Poor quality of goods and services
Which of the following could be an Opportunity?
Moving into new market segments that offer improved profits
Which of the following could be a Threat?
Changes in technology
Porter has designed a framework to help understand why certain countries achieve global competitiveness advantage in certain industries. It also helps internationalizing firms to make location decisions. The frameworks called:
The variable of related and support sectors in the Porter's Dimond refers to:
The relationship between suppliers and sectors
In Porter's Diamond model which dimension talks about skill and knowledge upgradation of people working in the firm.
Find the odd man out
____ is to evaluate each segment's attractiveness and select one or more of the market segments
____ divides buyers into different groups based on social class, lifestyle, and personality characteristics.
To be useful, market segments must be:
Measurable and accessible
____ is a fee paid periodically to compensate a licensor for the temporary use of its intellectual property, often based on a percentage of gross sales generated from the use of licensed asset.
When a firm allows others to use an entire business system in exchange for compensation the arrangement is known as ______.
A patent exclusively refers to a distinctive design, symbol, logo, word, or series of words placed on a product label.
What can be a disadvantage associated with the use of a franchise?
Lack of flexible decision making for franchisee
According to this lesson, what is the primary reason a franchisor retains some control over operational decisions?
The franchisor needs to protect their most valuable asset, their name and representation
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