Management Environment Introduction Quiz

All managers, be it in commercial, public and charitable institutions, must take cognizance of elements of their external ______

Managers have little powers of influencing the forces, they must respond to ______

In this endeavour, they must identify, evaluate and react to forces outside the institutions that may affect its ______

The society we operate in is a pluralistic society in which many organized groups represent various interests yet have impact on one another and not one group exerts an inordinate amount of ______

Working with such a pluralistic society has implications on institutions in the following ways: The institutional power is kept in the balance by various groups such as environmental groups in the case of a manufacturing ______

Institutions of commercial ventures participating in project with other responsible groups for the purposes of bettering society such as groups working towards renewal of inner citizens (NCBDA) iv) There can be conflict of interests among the groups and one group becomes ______ (aware) of what one group is doing.

External Environment factor which are economic in nature includes capital, labour, price levels and government policy (fiscal and taxation) among others.Economic factors are a concern to all forms of institutions be they government agencies, NGOs and business enterprises noting that a Government Agency is financed via public taxation towards provision of desired services to the public.Capital: This includes land resources (raw materials) machinery, buildings, office equipment, tools of all kinds and ______.

Some of these may be produced by the institution itself (e.g.a cash crop producing firm having its own plantations) as ______ resources can be generated within the organization to purchase the machinery from outside source.

This means that the operations of an institution is dependant on the availability and prices of needed capital items yet the availability of capital resources vary from country to country thus determining the cost of operations.Price Levels and Inflation: The imports of an enterprise are affected by the price level changes.If prices go up rapidly the cost of production is liable to increase (for example oil price increase of 1990s – Gulf war) inflation affects cost of labour, materials and other items.Government Fiscal and Tax Policies: These may be viewed as political instruments but their economic impact on all institutions is ______.

Business institutions have customers which Non-Business Institutions have clients who must be satisfied in their demand.The demands of clients are influenced by non – economic as well as economic factors.The principle ones being people’s attitudes and desires arising from cultural patterns in the social environment and the economic ______.