Tag: dimensions of business environment

Quizzes (0) Questions (98)

Questions Related to dimensions 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 can be classified as "external forces"?

  1. Political forces

  2. Educational and cultural forces

  3. Technological forces

  4. All of the above
Reveal answer Fill a bubble to check yourself
D Correct answer
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.

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

  1. (I)

  2. (II)

  3. (III)

  4. All of the above
Reveal answer Fill a bubble to check yourself
D Correct answer
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.
Multiple choice business organisation and correspondence meaning and factors of business environment dimensions of business environment business environment and its dimensions business environment

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 -

  1. None of the given

  2. Except 4 all other

  3. Both 1 and 3

  4. 1 only
Reveal answer Fill a bubble to check yourself
C Correct answer
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.

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

External environmental scanning accounts the _________.

  1. social environment (general forces)

  2. task environment (industry analysis)

  3. both (A) and (B)

  4. neither (A) nor (B)
Reveal answer Fill a bubble to check yourself
C Correct answer
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).
Multiple choice business organisation and correspondence meaning and factors of business environment dimensions of business environment business environment and its dimensions business environment

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

  1. Mission

  2. Vision

  3. Objectives

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

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

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

  1. Superior

  2. Surroundings

  3. Society

  4. Socio cultural
Reveal answer Fill a bubble to check yourself
D Correct answer
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.

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

The advantages of competition rivalry are___________________.

  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
Reveal answer Fill a bubble to check yourself
D Correct answer
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
Multiple choice business organisation and correspondence meaning and factors of business environment dimensions of business environment business environment and its dimensions business environment

PESTLE stands for __________________.

  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
Reveal answer Fill a bubble to check yourself
C Correct answer
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.

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

 ___________ 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.

  1. Early scanning

  2. Economic scanning

  3. Environment scanning

  4. Customer scanning
Reveal answer Fill a bubble to check yourself
C Correct answer
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.

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

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

  1. 1670s

  2. 1770s

  3. 1870s

  4. 1970s
Reveal answer Fill a bubble to check yourself
D Correct answer
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.