Tag: meaning and factors of business environment

Questions Related to meaning and factors of business environment

In general, Vision and Mission statements of an organisation are a result of ________.

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

  1. operational planning

  2. strategic planning

  3. middle level planning

  4. performance planning

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Correct Option: B
Explanation:
In general, Vision and Mission statements of an organization are a result of strategic planning.Vision statement describes the desired future position of a company. It  projects the future dream. A vision statement is a picture of a company in the future which is inspirational note and the framework for  all strategic planning.
Mission statement is a brief description of a company's fundamental purpose.

Which one of the following describes the desired future position of a company?

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

  1. Mission statement

  2. Vision statement

  3. Competitive advantage

  4. Qualitative policy.

Show answer
Correct Option: B
Explanation:

Vision statement describes the desired future position of a company. It  projects the future dream. A vision statement is a picture of a company in the future which iis inspirational note and the framework for  all strategic planning.

In which type of environmental scanning, ad hoc decisions are made?

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

  1. Passive Scanning

  2. Active Scanning

  3. Directed Scanning

  4. None of the above

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Correct Option: A
Explanation:

Passive scanning helps to take the ad hoc decisions. Ad hoc decisions refer to those decisions which are taken in case of emergencies. Passive scanning is also known as ongoing scanning which takens place unconsciously in the organization.

Environment scanning involves monitoring of _______.

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

  1. monitoring Govt. regulations

  2. monitoring Competitors

  3. monitoring supplier & client

  4. monitoring internal & external environment

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Correct Option: D
Explanation:

Environment scanning involves monitoring of monitoring internal and external environment.The 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 means environment scanning.

Which of the following is not a part of Environmental factor?

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

  1. Emphasis on safety

  2. Energy available and costs,

  3. Waste disposal,

  4. Environmental legislation

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Correct Option: A
Explanation:

Emphasis on safety is not a part of Environmental factor since it is not related directly to the environment. Emphasis on safety falls under the social factor since it includes values and practices.

What does 'L' signify in environment scanning tool - PESTLE?

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

  1. Legal

  2. Logical

  3. Legitimate

  4. Language

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Correct Option: A
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.

Which of the following is not one of the Porter's five force factor?

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

  1. New Entrant

  2. Supplier power

  3. Competitor

  4. Political factor

Show answer
Correct Option: D
Explanation:
Political factor is not one of the Porter's five force factor.The Porter's five forces tool is a simple but powerful tool to evaluate the power of business.Porter's Forces Analysis assumes that there are important forces that determine competitive power in a business situation. These are: a) Supplier power,
b) Buyer power,
c) Competitive rivalry,
d) Threat of substitution,
e)  Threat of new entryAs per Porter's Forces Analysis, supplier power assesses how easily suppliers may drive up prices.As per Porter's Forces Analysis, buyer power evaluates how easy it is for buyers to drive prices down.

Which of the following is not a political factor that impacts external macro-environment?

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

  1. Population growth rate,

  2. Tax policy,

  3. Government type and stability

  4. Regulation and de-regulation trends

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Correct Option: A
Explanation:

Population growth rate  is not a political factor that impacts external macro-environment. It is a demographic feature. Population growth rate specifies the rate at which the population is increasing or decreasing.

Which of the following is an environmental scanning tool?

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

  1. PENTLE

  2. PINTLE

  3. PESTLE

  4. PANTLE

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.

Which of the following is an environment scanning tool?

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

  1. PENTLE

  2. PINTLE

  3. PESTLE

  4. PANTLE

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.