Business environment

Business environment

Multiple Choice

Influences that come from within the business are in the

• macro environment

• external environment

• operating environment

• internal environment

Multiple Choice

The internal business environment consists of...

• factors that directly impact the organisation

• factors that influence the operations of the business

• factors that influence the wider environment in which the business operates

Multiple Choice

Which of the following is an example of social environment?

• money supply in the economy     
• consumer protection act
• The constitution of the country       
• composition of family

Multiple Choice

________ refers to negative and unfavourable external factors that are likely to create hurdles for a firm *

• Opportunities

• Threats

• Benefits

• None of the above

Open Ended

Define "business environment?"

Multiple Select

Business environment is classified into 2 types. Choose them from the below answers.

• Internal

• Opportunity

• Weakness

• External

Multiple Choice

Choose the answer with factors from internal environment.

• Owners, Suppliers, Competitors

• Political environment, Economic environment

• Owner, Employee, Manager

• Competitors, Suppliers, Resources

Multiple Choice

Select the factors belonging to economic environment from below.

• Interest rate, Inflation, Income distribution

• Fiscal policy, Infrastructure development policy

• Laws, regulations

• Inflation, Exchange rate, Internet

Open Ended

Type in the positive impacts of globalization on business

Open Ended

Type in the negative impacts of globalization on domestic business.

Multiple Select

Select the correct statements from below.

• Owner's financial strength, business knowledge and experience will affect a business favorably or unfavorably.

• Decision making of employees will affect the business positively or negatively

• The changes in the tastes and preferences of customers will affect the business

• Competitors' pricing, products, marketing strategies will influence the business

Multiple Select

Select the strengths from the options given below.

• Experience of managers and accurate decision making

• Employees inability to complete the tasks on time

• Inexperience and inadequate knowledge of the owner

• Having a recognized brand name

• Unfavorable geographical environment of the business

Multiple Choice

A damaged reputation would be considered a (n)

• Strength

• Weakness

• Opportunity

• Threat

Multiple Select

Select the threats from the options given below.

• Competitors leaving the industry

• Change in the life style of consumers

• Natural disasters

• Difficulties in adapting new technologies

Multiple Choice

Mr Jonas a culinary chef has been a chef for 3 years, and he has a dream to open his own restaurant. He has found the perfect space for his restaurant and has enough capital to start his business. However, Mr Jonas has no entrepreneurial skills and doesn’t know the first thing about starting a business even though he is a cook. Mr Jonas would like to open a steak house restaurant but the location he chose for his business already has 3 restaurants. Mr Jonas has passion, he has Capital and he is a hard worker.    

 Identify the threat that Mr Jonas might face during the process of starting his business? 

• he has no entrepreneurial skills and this may influence his business negatively.

• He has to many competitors and it might put a strain on Mr Jonas potential customer base.

• He is a hard worker and he has passion this may blur his vision in seeing the potential threats to his dream.

• Mr Jonas has sufficient Capital and with money he can make his business appealing to potential customers.

Multiple Choice

Mr. Jonas discovered that a new competitor has entered the market. At which stage of the SWOT analysis would this discovery probably be made? (ANA)

• Analysis of strengths

• Analysis of weaknesses

• Analysis of opportunities

• Analysis of threats