Tag: business environment

Questions Related to business environment

Political environment refers to________________.

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

  1. global integration

  2. legislature

  3. economic factor

  4. none of the above

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Correct Option: B
Explanation:

Political environment refers to legislature. The political environment of a country gets influenced by the political organizations such as philosophy of political parties, ideology of government or party in power, nature and extent of bureaucracy influence of primary groups.

When we analyze the processes of change in the business environment it conceptualizing it as_________.

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

  1. Complex

  2. Static

  3. Dynamic

  4. Diverse

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Correct Option: C
Explanation:
When we analyze the processes of change in the business environment it conceptualizing it as: Dynamic. Business environment keeps on changing whether in terms of technological improvement, shifts in consumer preferences or entry of new competition in the market.

Buyers cannot exercise high bargaining power over their suppliers if ___________.

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

  1. the volume they buy accounts for a large percentage of their suppliers sales

  2. there are few buyers in the market

  3. they have many suppliers to choose from

  4. there is a high concentration of suppliers

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Correct Option: D
Explanation:

Buyers cannot exercise high bargaining power over their suppliers if there is a high concentration of suppliers. Bargaining power of the buyer refers to the relative power of the buyer which he uses to influence sellers. In this situation, buyer have very less relative power to exercise on sellers.

Internal factors of business environment include ______________.

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

  1. vision of the organization

  2. mission of the organization

  3. vision and mission of the organization.

  4. vision and mission of the organization and other internal mechanism of the organization

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Correct Option: D
Explanation:

Internal factors of business environment include vision and mission of the organization and other internal mechanism  of  the organization. The internal factors has received considerable  attention by firms. A business has absolute control  on the internal factors of the business organization.

What is most appropriate Externally imposed strategy is?

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

  1. Imposition of strategy by individual shareholder.

  2. Imposition of strategy by managers

  3. Reacting to threats and opportunities in the environment

  4. The imposition of strategy by Government in companies where it has extensive regulation.

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Correct Option: D
Explanation:

The imposition of strategy by Government in companies where it has extensive regulation is the most appropriate externally imposed strategy. It is an externally imposed strategy since government is an external agent but it does affect the activities of the business organizations indirectly.

Analysing process of change in the business environment involves conceptualizing it as.

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

  1. Complex

  2. Static

  3. Dynamic

  4. Diverse

Show answer
Correct Option: C
Explanation:

Analyzing process of change in the business environment involves conceptualizing it as dynamic. Business environment keeps on changing whether in terms of technological improvement, shifts in consumer preferences or entry of new competiion in the market.

The 6 MS of internal environment are ____________________________.

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

  1. Media, management, money, monitory policy, mission man

  2. Monitory policy, man, marketing, resources, money, machinery miscellaneous factors.

  3. Man, marketing resources, machinery, management, money, miscellaneous, money machinery

  4. None of the above

Show answer
Correct Option: C
Explanation:
The type of business environment within a company is called internal environment. Internal environment contains the owners of the business, the shareholders, the managing director, the non-managers, employees, the customer, structure of the business organization and the culture of the organization.The 6 MS of internal environment are:Man, marketing resources, machinery, management, money, miscellaneous, money machinery.

Which of following relates to population?

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

  1. Demographic environment

  2. Social environment

  3. Cultural environment

  4. Natural environment

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Correct Option: A
Explanation:

Demographic environment relates to population.Demographics refer to the size, density, distribution and growth rate of population.Demographics is a part of the macro environment of the business organization. It is one of the key factors of the business environment.

A society's basic values, lifestyle, culture, preferences are all part of its ____________ Environment.

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

  1. cultural-economic

  2. physical environment

  3. natural

  4. socio cultural

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Correct Option: D
Explanation:

A society's basic values, lifestyle, culture, preferences are all part of its socio-cultural Environment. These factors directly or indirectly leave n impact on the business environment.  Societal values and lifestyles are dynamic in nature- these changes over time.

State whether the following statement is True or False:
Big and powerful firms adopt the response of gaining command over the environment.

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

  1. True

  2. False

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Correct Option: A
Explanation:

Big and powerful firms adopt the response of gaining command over the environment- this statement is true. It is seen that large firms together create an oligopoly and hence price determination is done by these big and powerful firms.