Tag: meaning and factors of business environment

Quizzes (1) Questions (98)

Questions Related to meaning and factors of business environment

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

Which of the following is an example of social environment?

  1. Money supply in the economy

  2. Consumer protection Act

  3. The Constitution of the country

  4. Composition of family
Reveal answer Fill a bubble to check yourself
D Correct answer
Explanation

Composition of family is an example of social environment. Social environment consists of the customs and traditions of the society in which business is existing. It includes the standard of living, taste, preference and education level of people living in the society where business exists.

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

To give people the power to share and make the world more open and connected is ______of Facebook.

  1. Mission

  2. Vision

  3. Both (A) and (B)

  4. None of above.
Reveal answer Fill a bubble to check yourself
A Correct answer
Explanation

To give people the power to share and make the world more open and connected is mission of Facebook as mission can be defined as goal or objective of the organization. Mission statement defines what the organization is all about and its reason for existing.

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

A_________defines the company's business, its objectives and its approach to reach those objectives.

  1. Vision statement

  2. Mission statement

  3. Planning statement

  4. Forecasting statement
Reveal answer Fill a bubble to check yourself
B Correct answer
Explanation

A mission statement is a brief description of why a company or nonprofit organization exists. In one to three sentences, it explains what the company does, who it serves, and what differentiates it from competitors. It’s used to provide focus, direction, and inspiration to employees while it tells customers or clients what to expect from the business.

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

Which factor has been the most rapidly changing component in an organisation's general environment in the past quarter century?

  1. Global

  2. Economic

  3. Social

  4. Technological
Reveal answer Fill a bubble to check yourself
D Correct answer
Explanation

Technological factor has been the most rapidly changing component in an organization's general environment in the past quarter century. Technological factors involve changes taking place in the method of production, use of new equipment and machineries to improve the quality of product.

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

Business environment consists of which element?

  1. Internal

  2. External

  3. Both (a) and (b)

  4. None of these
Reveal answer Fill a bubble to check yourself
C Correct answer
Explanation

A business environment consists of internal environment within a company or an organization and the external environment, which are the external environmental factors affecting the business.

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

To develop caliber professionals facilitating good corporate governance is ___________of ICSI.

  1. Mission

  2. Vision

  3. Both (A) and (B)

  4. None of above
Reveal answer Fill a bubble to check yourself
A Correct answer
Explanation

To develop professionals of caliber and facilitate good corporate governance is the mission of ICSI. A mission can be defined as a goal or objective of the organization. The mission defines what the organization is all about and its reason for existing.

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

External forces are the pressures arising within the organization.

  1. True

  2. False

  3. Partly false

  4. None of the above
Reveal answer Fill a bubble to check yourself
B Correct answer
Explanation
External forces are the pressures arising within the organization- this is a false statement.
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.
Multiple choice business organisation and correspondence meaning and factors of business environment dimensions of business environment business environment and its dimensions business environment

Threat to go on strike is ________ of resistance to change.

  1. an implicit expression

  2. an overt expression

  3. deferred expression

  4. all of the above
Reveal answer Fill a bubble to check yourself
B Correct answer
Explanation

Threat to go on strike is an overt expression of resistance to change. It is considered as an overt expression of resistance to change as it is directly observable. Threat to go to strike is not hidden expression.

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

Business environment is multifaceted as__________________.

  1. it is an opportunity for some but a threat for others

  2. it has multiple work to do

  3. there are 40 many different businesses.

  4. none of the above.
Reveal answer Fill a bubble to check yourself
A Correct answer
Explanation

Business environment is multifaceted as it is an opportunity for some but a threat for others. Changes may be viewed differently by different individuals. Early identification of opportunities helps an enterprise to have the first mover advantage and tap the opportunities at the earliest.

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

The government has decided to replace the MRTP Act by a new competition law on the recommendations of the _____________.

  1. Raghavan Committee

  2. Sivaraman Committee

  3. Narasimhan Committee

  4. Wanchoo Committee
Reveal answer Fill a bubble to check yourself
A Correct answer
Explanation

The Competition Act, 2002, which replaced the MRTP Act, was drafted based on the recommendations of the Raghavan Committee.