Tag: dimensions of business environment

Questions Related to dimensions of business environment

Demonetization and GST are examples of changes in ________.

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

  1. political environment

  2. social environment

  3. technological environment

  4. global environment

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Correct Option: A
Explanation:

Demonetization and GST are examples of changes in political environment. Political environment of a country gets influenced by the political organizations. Demonetization and GST are classified under political environment since these reforms are taken by the government of India..

State whether the following statement is True or False:
Wait and watch is a response of least resistance.

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:

Wait and watch is a response of least resistance- this is a true statement. This kind of statement are optimistic in nature and when somebody in a company perform an activity in a lethargic manner then such kind of statement are passed to assure that person that the work can be performed in an efficient manner. 

State whether the following statement is True or False:
Innovative approach requires no feedback system.

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

Show answer
Correct Option: B
Explanation:

Innovative approach requires no feedback system- this statement is false. Innovative approach also requires feedback system since feedback is of utmost necessary to check whether the planning and strategy of the business gets implemented properly.

Age, family size, sex composition and other people related elements are part of _______.

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

  1. political environment

  2. economic environment

  3. demographic environment

  4. natural environment.

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Correct Option: C
Explanation:

Age, family size, sex composition and other people related elements are part of demographic environment.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.

Classify the following into economic and non-economic activities. 

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

  1. A mother cooking food for her children

  2. A teacher teaching in a coaching centre

  3. A young boy helps an old man in crossing the road

  4. The chaat seller outside a school

  5. A lady officer in Delhi Police

Show answer
Correct Option: A
Explanation:

A. It is a non-economic activity as a mother cooks food for her children out of love and affection and not with a motive to earn a profit or income.

B. It is an economic activity as the teacher is teaching with a motive to earn income or livelihood.
C. It is a non- economic activity as there is no earning of the young boy.
D. It is an economic activity as his motive is to earn profit.
E. It is an economic activity as the officer is doing this job to earn a livelihood.

Bajaj Auto offers "value for money, for years" is an example of ____________.

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

  1. vision

  2. mission

  3. objective

  4. goal

Show answer
Correct Option: B
Explanation:


Bajaj Auto offers "value for money, for years" is an example of mission. A mission statement refers to a firm\'s primary objectives and the scope of its operations or why does the organization operates and how do they market their product or services. Therefore, the mission of Bajaj Auto is "value for money, for years". 

A vividly descriptive image of what a company wants to be known for _____________.

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

  1. Vision

  2. Mission

  3. Objective

  4. Goal

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Correct Option: A
Explanation:

A vision statement refers to what an organisation wants to be in the upcoming years of its operations. It describes the future view of the company or it terms of operations in future to achieve the organisational goals which it has set in the mission statement. 

A statement of a firm's unique purpose and the scope of its operations in product, and market terms 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. vision

  2. mission

  3. objective

  4. goal

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Correct Option: B
Explanation:

b'A mission statement refers to a firm\'s unique purpose of survival or its primary objectives and the scope of its operations or why does the organization operates and how do they market their product or services. Example: Bajaj Auto offers "value for money, for years" is an example of mission. '

Which of the following is nature of the business environment?
(i) Multifaceted
(ii) Uncertain
(iii) Dynamic.
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) & (ii)

  2. (ii) & (iii)

  3. (i) & (iii)

  4. (i), (ii) & (iii)

Show answer
Correct Option: D
Explanation:

 Business environment refers to the forces, factors and institutions with which the businessman has to deal with in order to achieve its objectives. It has the following nature: 

1. Multifaceted: All the forces and factors of business environment are inter-related to each other due to which it becomes a multifaceted factor for a business. 

2. Dynamic: Business environment is highly flexible and keeps on changing. So it is not static or rigid in nature and it need to be monitored continuously due to its dynamic nature. 

3. Uncertain: As business environment change very fast and continuously, it is very difficult to predict the changes of business environment. Therefore, it is highly uncertain. 

To develop caliber professionals facilitating good corporate governance is ______ of ICS.

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. Both (A) and (B)

  4. None of above

Show answer
Correct Option: A
Explanation:

A mission statement refers to a firm's unique purpose of survival or its primary objectives, the ways to achieve those objectives and the scope of its operations and how do they market their product or services to the target market. Therefore, to develop caliber professionals facilitating good corporate governance is the mission of ICS.