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What does the business environment consist of?
What does the business environment consist of?
- Only internal factors like organizational strengths and weaknesses
- Only demographic trends and natural factors
- Only economic conditions and government policies
- Factors outside the business that can lead to opportunities or threats (correct)
According to Bayard O. Wheeler, what is the business environment?
According to Bayard O. Wheeler, what is the business environment?
- The process of monitoring economic conditions
- Only the technological and market settings
- The total of all internal factors within a firm
- Factors outside the firm and industry that affect operations (correct)
What is essential for a successful business, based on the provided text?
What is essential for a successful business, based on the provided text?
- Focusing solely on internal factors
- Not monitoring or adapting to the environment
- Ignoring environmental disturbances
- Adapting to the environment and responding to opportunities and threats (correct)
Why is continuous monitoring of the environment important for a business?
Why is continuous monitoring of the environment important for a business?
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What is the role of strategists in relation to the business environment?
What is the role of strategists in relation to the business environment?
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What is the main idea about the relationship between business and the environment?
What is the main idea about the relationship between business and the environment?
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How does understanding the business environment help firms according to the text?
How does understanding the business environment help firms according to the text?
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What does the business environment help firms identify?
What does the business environment help firms identify?
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What does the interaction between business and its environment reveal?
What does the interaction between business and its environment reveal?
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What do internal and external factors in the business environment provide to firms?
What do internal and external factors in the business environment provide to firms?
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