Influences in the Business Environment
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Questions and Answers

What are the four main resources of a business?

Human, information, physical, and financial

How can business culture be defined?

Business culture can be seen in the unwritten or informal rules that guide how people in the organization behave.

How does a flatter organizational structure impact a business?

A flatter organizational structure reduces the number of levels of management.

What factors should be considered when choosing a business location?

<p>Visibility, cost, proximity to suppliers, proximity to customers, and proximity to support services.</p> Signup and view all the answers

What are the essential elements of a business culture?

<p>Values, symbols, rituals, and heroes.</p> Signup and view all the answers

What are the key internal influences on a business according to the text?

<p>Product, location, resources, management, and business culture</p> Signup and view all the answers

Explain the impact of product influences on a business.

<p>Product influences affect a range of internal structures and operations within the business.</p> Signup and view all the answers

How does location affect the sales and profits of some businesses?

<p>Location will have a direct impact on the sales and profits of some businesses.</p> Signup and view all the answers

List the factors to consider when choosing a business location.

<p>Visibility, cost, proximity to suppliers, proximity to customers, proximity to support services</p> Signup and view all the answers

What are the four main resources of a business?

<p>Human, information, physical, financial</p> Signup and view all the answers

Explain how a flatter organizational structure impacts the management of a business.

<p>A flatter organizational structure reduces the number of levels of management.</p> Signup and view all the answers

Define business culture according to the text.

<p>Business culture can be seen in the unwritten or informal rules that guide how people in the organization behave.</p> Signup and view all the answers

What are the four essential elements of a business culture?

<p>Values, symbols, rituals, heroes</p> Signup and view all the answers

How can business culture influence the behavior of individuals in an organization?

<p>Business culture sets the tone for how people in the organization behave.</p> Signup and view all the answers

Explain the significance of stakeholders in the business environment.

<p>Stakeholders play a crucial role in influencing the decisions and operations of a business.</p> Signup and view all the answers

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