Understanding the Dynamic Business Environment
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Questions and Answers

What does the external business environment consist of?

  • The day-to-day decision making process
  • The global economic systems
  • Internal factors affecting the business
  • Organizations, factors, and forces (correct)

    • What can business owners and managers control in their internal business environment?

  • Global economic systems
  • External environmental conditions
  • Competitive strategies of other businesses
  • Supplies to purchase and employees to hire (correct)

    • What must business leaders do to compete successfully in the open market?

  • Control the external forces like natural disasters
  • Ignore environmental changes
  • Limit the degree of control over their internal business environment
  • Analyze the environment and adapt to its changes (correct)

    • What do external forces such as natural disasters and pandemics have on commerce?

    <p>Significant impact on commerce</p> Signup and view all the answers

    What is the role of the global economic systems in affecting businesses?

    <p>Directly affects how businesses choose to operate and achieve their goals</p> Signup and view all the answers

    What event critically wounded the environment, businesses, tourism, and people’s livelihood in 2010?

    <p>Gulf Coast Deepwater Horizon disaster</p> Signup and view all the answers

    Which company handled the Gulf Coast Deepwater Horizon disaster and spent upwards of $60 billion in cleanup?

    <p>British Petroleum</p> Signup and view all the answers

    What is a critical factor for leaders to consider in daily operations, according to the text?

    <p>Government activity and oversight</p> Signup and view all the answers

    Which organizations have spent upwards of $50 million on lobbying activities in Washington, D.C. to help policy makers understand the importance of digital innovation and an “open” internet?

    <p>Google, Facebook, Amazon</p> Signup and view all the answers

    What is one of the environmental influences mentioned in the text?

    <p>Technological advances</p> Signup and view all the answers

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