Business Environment Quiz: Direct Interaction

All external factors that influence a company's operations, performance, and strategies, including everything outside the organization that can affect its success.

Those factors in the external environment that directly interact with a company, such as owners, customers, suppliers, competitors, and employees. They have a direct impact on the company's daily operations.

Those factors in the external environment that interact with a company indirectly, but still significantly impact its success. These factors broadly affect the business environment, including sociocultural, political, technology, economic, and global factors.

The obligation of businesses to contribute positively to society, going beyond simply making profits. It includes actions that benefit employees, customers, communities, and the environment.

Part of social responsibility, this refers to businesses striving to reduce their impact on the environment through sustainable practices like waste reduction and using eco-friendly materials.

Part of social responsibility, this refers to businesses contributing to economic growth by providing jobs, paying taxes, and fostering development.

Part of social responsibility, this involves businesses engaging in charitable donations, volunteering, and supporting social causes like education and healthcare.

The factors that influence consumer behavior and demand, including societal values, demographics, and social trends.

Companies can create economic value by addressing social issues, generating positive impacts for society and themselves.

Activities that focus on positive contributions to society through charity, volunteering, and local development.

Implementing sustainable practices that minimize the company's environmental impact.

A company's efforts to improve society and the environment while operating ethically.

Describes four levels of a company's social responsibility: Economic, Legal, Ethical, and Philanthropic.

Aligning business practices with global sustainable development goals, focusing on environmental protection and social responsibility.

Ensuring safe working conditions and fair compensation for employees.

A clear statement outlining the long-term direction and aspirations of an organization.

Moral principles guiding managers in making ethical and legal decisions. It emphasizes fairness, transparency, and accountability in organizational actions.

Acting honestly and taking responsibility for one's actions. This includes being truthful and admitting mistakes.

Treating all employees, stakeholders, and customers equally and fairly. This includes making decisions without bias.

Communicating openly and honestly with stakeholders about organizational decisions and actions. It involves avoiding hidden agendas.

Personal gain that conflicts with the company's best interests. It can involve using your position for your own benefit.

Upholding the rights of employees, customers, and communities. This includes respecting their privacy, safety, and dignity.

A company's responsibility beyond profit-making, involving social and environmental issues. It considers how the company impacts society.

Emphasizes profits, social responsibility, and environmental sustainability. It considers the company's impact on people and the planet.

Jobs are grouped based on the specific tasks performed.

Jobs are grouped based on the geographic location of operations.

Jobs are grouped based on customer needs or types of customers.

Jobs are organized based on the different stages involved in producing goods or services.

Larger organizations often require more specialized departments because of their complexity and scale of operations.

A type of organizational structure where employees report to more than one manager, combining functional and divisional structures. This approach fosters flexibility and is ideal for managing complex projects.

A structure that divides an organization based on different departments like marketing, finance, human resources, etc., where each department is headed by a specialist. This promotes efficiency and expertise in dedicated areas.

An organizational model that is characterized by fewer hierarchical levels, decentralized decision-making, and wider spans of control, allowing for greater employee autonomy and collaboration.

This structure groups company operations into divisions based on products, services, regions, or customer types, allowing for greater flexibility and responsiveness to different markets.

A structure where organizations focus on their core competencies and outsource non-core activities, creating a network of interconnected entities for different tasks.

Organizing tasks, responsibilities, and authority within an organization, determining communication flow, decision-making processes, and interactions between departments. It is crucial for efficient operation.

Identifying key performance indicators (KPIs) or metrics to track progress and assess the effectiveness of a plan. This helps in making necessary adjustments.

Preparing for potential challenges like resource shortages or unexpected events by creating contingency plans to mitigate their impact.

A structure that prioritizes collaboration and teamwork. Teams are formed based on specific projects or tasks, combining diverse skills for optimal results.

Large organizations often require more complex structures to manage various activities and departments due to their size.

The specific work an organization handles influences its structure. For example, creative companies may opt for more flexibility, while production companies need more rigidity.

The leadership style and management philosophy highly impact organizational structure. Centralized leaders prefer control, while decentralized leaders value employee autonomy.

Technological advancements influence how tasks are managed and coordinated. For example, technology can facilitate communication and lead to flatter structures.

Market competition can impact the organizational structure. Fast-paced or competitive industries may prefer flexible structures to adapt quickly.

External laws, regulations, and industry standards can dictate the structure, requiring compliance departments for legal obligations.