Business Environments

Collective goods are also known as …

• infrastructure

• formal goods

• informal goods

• teamwork

The private sector consists of the ... sector and informal sector

• business

• quality

• pricing

• formal

Which of the following is not an important objective of a business?

• survival

• profitablity

• growth

• social status

• social responsibility

In order for relationships in the business to be functional (have a positive impact),...

• Employees should be trained to be tolerant of differences.

• There should be a person who dominates discussions because they were a top student in university.

• Employees should be encouraged to communicate in a constructive manner about their ideas and even differences

• Time management skills are crucial - especially where the output of one employee becomes the input of another employee

Which of the following is a business function?

• Vision

• Mission

• Goals and objectives

• Purchasing

True or False? Developing the business strategy forms part of the responsibilities of general management.

• True

• False

Which of the following are elements of the micro environment?

• Business functions

• Resources

• Business Policy

• Industry regulators

When the manager allocates duties, authority and responsibilities to subordinates (people below her), we call this...

• Communication

• control

• delegation

• discipline

Which of the following form part of the market environment?

• Competitors

• Suppliers

• Non-government organisations

• Political factors

Which of the following is not a characteristic of the Business Environment?

• Simple

• Complex

• Multi-faceted

• Dynamic