Tag: business environment

Questions Related to business environment

Which of the following can be classified as "external forces"?

business organisation and correspondence meaning and factors of business environment dimensions of business environment business environment and its dimensions business environment

  1. Political forces

  2. Educational and cultural forces

  3. Technological forces

  4. All of the above

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Correct Option: D
Explanation:

Following can be classified as "external forces":
(I) Political forces
(II) Educational and cultural forces
(III) Technological forces External forces includes all entities that exist outside its boundaries, but have significant influence over its growth and survival. An organization has little or no control over external forces but it needs to constantly monitored to adapt to these external changed.

Which of the following can be classified as "external forces"?
(I) Technological forces
(II) Social forces
(III) Political forces
Select the correct answer from the options given below:

business organisation and correspondence meaning and factors of business environment dimensions of business environment business environment and its dimensions business environment

  1. (I)

  2. (II)

  3. (III)

  4. All of the above

Show answer
Correct Option: D
Explanation:
Following can be classified as "external forces":
(I) Technological forces
(II) Social forces
(III) Political forces External forces includes all entities that exist outside its boundaries, but have significant influence over its growth and survival. An organization has little or no control over external forces but it needs to constantly monitored to adapt to these external changed.

Environment scanning applies to -
1.External scanning processes
2. Motivational scanning processes
3. Internal scanning processes
4. Lead scanning processes

Select the correct answer from the options given below -

business organisation and correspondence meaning and factors of business environment dimensions of business environment business environment and its dimensions business environment

  1. None of the given

  2. Except 4 all other

  3. Both 1 and 3

  4. 1 only

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Correct Option: C
Explanation:
Environment scanning applies to-
a) External scanning process- It includes scanning of environment which does not affect the business directly.
b) Internal scanning process- It includes scanning of environment which does  affect the business directly.

External environmental scanning accounts the _________.

business organisation and correspondence meaning and factors of business environment dimensions of business environment business environment and its dimensions business environment

  1. social environment (general forces)

  2. task environment (industry analysis)

  3. both (A) and (B)

  4. neither (A) nor (B)

Show answer
Correct Option: C
Explanation:
External scanning process  includes scanning of environment which does not affect the business directly.
External environmental scanning accounts both the social environment(general forces) and task environment( industry analysis).

A general enduring statement of the intent of business which reflects the belief and philosophy of management is known as_________.

business organisation and correspondence meaning and factors of business environment dimensions of business environment business environment and its dimensions business environment

  1. Mission

  2. Vision

  3. Objectives

  4. None of the above

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Correct Option: A
Explanation:

A general enduring statement of the intent of business which reflects the belief and philosophy of management is known as mission.A mission statement defines the company's business, its objectives and its approach to reach those objectives. In short, mission is the aim of the company. It states the principles which a company abide to reach its goal.

In the PESTEL framework for environmental analysis what does the letter S stand for?

business organisation and correspondence meaning and factors of business environment dimensions of business environment business environment and its dimensions business environment

  1. Superior

  2. Surroundings

  3. Society

  4. Socio cultural

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Correct Option: D
Explanation:

PESTLE analysis is a useful tool for understanding the big picture of the environment in which an entrepreneur is planning to operate.PESTLE stands for Political, Economic, Sociological, Technological, Legal, and Environmental.

The advantages of competition rivalry are___________________.

business organisation and correspondence meaning and factors of business environment dimensions of business environment business environment and its dimensions business environment

  1. Identifying the actual competitors

  2. Assessing competitors' objectives, strategies, strengths & weakness, and reaction patterns

  3. To root out the companies

  4. All the above

Show answer
Correct Option: D
Explanation:
Competition rivalry proved to be beneficial. Competitor analysis is a critical aspect of analyzing the internal business environment. The advantages of competition rivalry are:a) Identifying the actual competitors
b) Assessing competitors' objectives, strategies, strengths & weakness, and reaction patterns
c) To root out the companies

PESTLE stands for __________________.

business organisation and correspondence meaning and factors of business environment dimensions of business environment business environment and its dimensions business environment

  1. Political, Environmental, Sociological, Technological, Long, and Environmental

  2. Political, Economic, Sociological, Theoretical, Legal, and Environmental

  3. Political, Economic, Sociological, Technological, Legal, and Environmental

  4. Political, European, Sociological, Technological, Legal, and Environmental

Show answer
Correct Option: C
Explanation:

PESTLE analysis is a useful tool for understanding the big picture of the environment in which an entrepreneur is planning to operate.PESTLE stands for Political, Economic, Sociological, Technological, Legal, and Environmental.

 ___________ is careful monitoring of an organization's internal and external environments for detecting early signs of opportunities and threats that may influence its current and future plans.

business organisation and correspondence meaning and factors of business environment dimensions of business environment business environment and its dimensions business environment

  1. Early scanning

  2. Economic scanning

  3. Environment scanning

  4. Customer scanning

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Correct Option: C
Explanation:

Environment Scanning is careful monitoring of an organization's internal and external environments for detecting early signs of opportunities and threats that may influence its current and future plans. It helps to improve the business organization's condition in the market. It helps to analyse threats and grab the opportunities at the earliest.

The importance of environmental scanning was first recognized by life insurance firms in the late _______.

business organisation and correspondence meaning and factors of business environment dimensions of business environment business environment and its dimensions business environment

  1. 1670s

  2. 1770s

  3. 1870s

  4. 1970s

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Correct Option: D
Explanation:

Environment Scanning is careful monitoring of an organization's internal and external environments for detecting early signs of opportunities and threats that may influence its current and future plans.The importance of environmental scanning was recognized by life insurance firms in the late 1970s.