Factors Affecting Business Environment
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Questions and Answers

What is one of the outcomes of the interaction between the business and its environment?

  • Increased government regulations and compliance burdens
  • Decreased reliance on technological advancements
  • Identification of opportunities and threats for the business (correct)
  • Improved employee satisfaction and retention

    • How does understanding the business environment help in identifying the firm's strengths and weaknesses?

  • By highlighting the impact of technological and global developments on the business (correct)
  • By focusing on the internal processes and operations of the business
  • By analyzing the financial statements of the business
  • By predicting changes in consumer behavior and preferences

    • How does environmental analysis benefit managers in dealing with business challenges?

  • By making the task of managers easier in dealing with business challenges (correct)
  • By providing detailed financial forecasts for the business
  • By reducing the need for continuous learning and skill development
  • By making it more challenging to predict changes in the business realm

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