Chapter 2

Satisfactory Essays
True/False Questions

1. Environmental scanning and competitor intelligence provide important inputs for forecasting activities.

Answer: True

2. Environmental monitoring deals with tracking changes in environmental trends that are often uncovered during the environmental scanning process.

Answer: True

3. Competitor Intelligence (CI) is a tool that can provide management with “early warnings” about both threats and opportunities.

Answer: True

4. Competitor Intelligence gathering is no different from spying.

Answer: False

5. Competitive intelligence generally does not benefit very much from gathering information on competitors from sources in the public domain.

Answer: False

6. Even with all of the advances in recent years, forecasting is typically considered more of an art than a science and it is of little use in generating accurate predictions.

Answer: False

7. Scenario planning is usually concerned with short-term forecasts.

Answer: False

8. The same environmental trend can often have very different effects on firms within the same industry.

Answer: True

9. Although changes in the general environment may often adversely or favorably impact a firm, they seldom alter an entire industry.

Answer: False

10. Growth in the United States' population has been rather evenly distributed among major geographic regions.

Answer: False

11. A major sociocultural trend in the United States is the rapid decline in the number of retirees.

Answer: False

12. Technological innovations can create entirely new industries and alter the boundaries of industries.

Answer: True

13. There is generally a weak relationship between equity markets (e.g., New York Stock Exchange) and economic indicators.

Answer: False

14. Porter's five forces model is designed to help us understand how social attitudes and cultural values impact U.S. businesses.

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