Business Environment and Ethics Quiz 1
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Questions and Answers

What does the term 'environment' refer to in the context of business?

  • The economic conditions within the organization
  • The internal factors affecting the functioning of a business
  • The technological advancements within the organization
  • The aggregate of all conditions, events, and influences surrounding and affecting the organization (correct)

    • According to Jauch and Gluecke, which factors are included in the business environment?

  • Marketing and sales strategies
  • Socio-economic, technological, supplier, competitor, and government (correct)
  • Customer satisfaction and loyalty
  • Internal processes and procedures

    • Why is the business environment considered dynamic?

  • It is constantly changing due to various influences (correct)
  • It is predictable and stable
  • It remains the same over time
  • It has minimal impact on business operations

    • What is one of the characteristics of the business environment?

    <p>It is complex, consisting of numerous factors, events, conditions, and influences from different sources</p> Signup and view all the answers

    What type of effects can the same environmental trend have on different industries?

    <p>Different effects on different industries</p> Signup and view all the answers

    Why is the business environment considered dynamic?

    <p>Due to its complexity and varied influences</p> Signup and view all the answers

    What does the term 'environment' refer to in the context of business?

    <p>The aggregate of all conditions and influences that affect the organization</p> Signup and view all the answers

    What type of effects can the same environmental trend have on different industries?

    <p>Diverse effects based on industry characteristics</p> Signup and view all the answers

    According to Jauch and Gluecke, which factors are included in the business environment?

    <p>Socio-economic, technological, supplier, competitor, and government factors</p> Signup and view all the answers

    What is one of the characteristics of the business environment?

    <p>It is multi-faceted and consists of many factors</p> Signup and view all the answers

    What is the environment of an organization?

    <p>The aggregate of all conditions, events, and influences surrounding and affecting it</p> Signup and view all the answers

    Why is the business environment considered complex?

    <p>Because it consists of a number of factors, events, conditions, and influences arising from different sources</p> Signup and view all the answers

    What makes the business environment dynamic?

    <p>The constant change in market demand</p> Signup and view all the answers

    Which sector is NOT included in the business environment according to Jauch and Gluecke?

    <p>Financial</p> Signup and view all the answers

    Why is the environment of any organization considered multi-faceted?

    <p>Because the same environmental trend can have different effects on different industries</p> Signup and view all the answers

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