10 Questions
What type of industries are directly involved in the extraction of natural resources from the environment?
Primary industries
How do external factors in the business environment affect organizations?
By posing opportunities and threats beyond organizational control
According to Zyphur (2005), what impact does the internal environment have on organization members' behavior?
Significant influence
How can a well-designed internal environment impact a company's productivity?
Streamline processes and improve efficiency
What action can managers take to address shrinking markets due to external impacts like new competitors?
Exploit new monetization strategies and invest in digital marketing
What is the definition of Business environment according to Kotler?
The internal and external factors that affect a business
How does Michael A. Hitt define the internal business environment?
The immediate environment in which a business operates
According to Grant, what components make up the internal environment of an organization?
Organizational culture, structure, and processes
Which aspect of an organization's internal environment does Grant emphasize as dynamic?
Organizational culture
What does the external environment of an organization consist of?
Relevant forces outside that influence organizational activities
Explore the different types of business environments, including internal and external factors that can affect a business. Learn about the economic, demographic, natural, technological, political, and cultural aspects that make up the business environment.
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