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Questions and Answers
What aspect of business environment is mainly concerned with the competitive landscape outside the organization?
In the context of business environment, which factor is most influenced by laws and regulations?
Among the listed factors, which one is NOT considered an internal factor in the micro-environment?
What does the 'W' stand for in SWOT analysis?
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Which of the following is an example of a macro-environmental factor according to the text?
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Study Notes
Business Environment Considerations
- The competitive landscape outside the organization is primarily influenced by the external environment.
- Laws and regulations significantly impact the legal and political factors within the business environment.
Internal vs. External Factors
- Micro-environment includes factors directly influencing an organization, such as employees, management, and internal processes.
- An example of an external factor that is NOT considered a part of the micro-environment includes elements like market trends or economic conditions.
SWOT Analysis
- In SWOT analysis, the 'W' stands for Weaknesses, representing areas where the organization may be lacking or facing challenges.
Macro-environmental Factors
- Macro-environmental factors encompass broader influences such as economic trends, demographic changes, and technological advancements.
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Description
Test your knowledge on business environment factors, including internal and external dimensions, micro-environment elements, and SWOT analysis. Questions cover topics like government policies, market competition, and product innovation.
