Business Environment Quiz 3
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Questions and Answers

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

  • Marketing strategies used by a company
  • Employee performance measures
  • Forces and institutions outside the organization (correct)
  • The internal policies of an organization

    • Which of the following factors would NOT be considered part of the general environment?

  • Socio-cultural factors like customs
  • Political and legal factors like government regulation
  • Competitive factors like suppliers (correct)
  • Economic factors like inflation

    • What is meant by 'environmental uncertainty'?

  • The level of innovation in technology
  • The degree of change and complexity in the environment (correct)
  • The extent of employee satisfaction
  • The financial performance of a company

    • Which of the following best describes the 'socio-cultural' forces in the general environment?

    <p>Customs, values, and lifestyles of a society</p> Signup and view all the answers

    An example of 'demographic' factors would include:

    <p>Characteristics like age and ethnicity of the population</p> Signup and view all the answers

    Which of the following describes 'technological' forces in the general environment?

    <p>Infrastructure and advancements in technology</p> Signup and view all the answers

    What would be included in an international PESTEL analysis?

    <p>National attitudes towards foreign companies</p> Signup and view all the answers

    Which factor is NOT part of the 'environmental' forces according to the general environment?

    <p>Government trade policies</p> Signup and view all the answers

    What aspect of the competitive environment does the bargaining power of suppliers affect?

    <p>Industry profits</p> Signup and view all the answers

    Which factor increases the intensity of rivalry among competitors?

    <p>Stagnant or decreasing demand</p> Signup and view all the answers

    What are visible artifacts in organizational culture?

    <p>Office layout and symbols</p> Signup and view all the answers

    How is a strong organizational culture typically characterized?

    <p>Widely shared values</p> Signup and view all the answers

    Which dimension of organizational culture focuses on collaboration?

    <p>Team orientation</p> Signup and view all the answers

    Which of the following is not considered an external stakeholder?

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

    What is the primary responsibility of managers with regards to stakeholders?

    <p>To decide which goals to pursue</p> Signup and view all the answers

    What indicates a weak culture within an organization?

    <p>Contradictory messages from management</p> Signup and view all the answers

    Which factor does the threat of substitutes rely on to increase rivalry?

    <p>Low switching costs</p> Signup and view all the answers

    What is one way that organizational culture is maintained?

    <p>Top managers' actions</p> Signup and view all the answers

    What do customers expect from a company to ensure their continued business?

    <p>Quality products at fair prices</p> Signup and view all the answers

    Which of the following is true about barriers to entry in an industry?

    <p>They involve obstacles to new competitors</p> Signup and view all the answers

    Which of the following describes the 'adaptability' dimension of organizational culture?

    <p>Encouragement of innovation and flexibility</p> Signup and view all the answers

    What is the primary claim of stockholders in a company?

    <p>To maximize return on their investment</p> Signup and view all the answers

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