How would a business use a STEEPLE Analysis in strategic planning?

To evaluate external influences and plan accordingly

To analyze only internal factors affecting the business

To determine financial performance

To monitor only consumer buying habits

Which of the following is a Political factor in a STEEPLE Analysis?

A government introducing new trade tariffs

New environmental protection laws

Advances in artificial intelligence

Changes in ethical business standards

Which of the following would be considered an Ethical factor in STEEPLE?

Changes in government leadership

What is the primary purpose of a government's tax policy?

To raise revenue for public services

To eliminate all business competition

To promote only large corporations

How does an increase in sales tax affect consumer behaviour?

It increases the cost of goods, which may reduce consumer demand.

It generally leads to higher consumer spending.

It encourages more consumers to save money.

It has no effect on consumer behavior.

What effect does a decrease in corporation tax have on a business?

It increases the potential retained profits the business.

It increases the cost of production.

It decreases the amount of money available for reinvestment.

It reduces consumer purchasing power.

Which of these is an example of employment law?

Rules about the maximum working hours and minimum wage

Consumer protection regulations

Laws related to the quality of products

Changes in employment law that improve employee working conditions might result in:

Higher business costs and potentially lower flexibility in the workforce

Environmental laws often lead to:

Increased costs for businesses that need to invest in environmentally friendly practices

Reduced spending by the government

Which of the following is an example of a trade restriction?

Consumer protection regulations

Why do governments promote competition?

To ensure consumers have more choice and better quality goods

To increase prices for consumers

To prevent the entry of new businesses

Which action might a government take to prevent anti-competitive practices?

Imposing fines on businesses involved in price-fixing

Allowing mergers between all large companies

Removing consumer protection laws

What is the main purpose of consumer protection laws?

To ensure consumers receive fair treatment and safe products

To protect businesses from consumers

To encourage consumers to spend less

How can a government's positive attitude towards business create opportunities?

By offering tax incentives and grants

By imposing stricter regulations

How can a government's policies towards businesses create opportunities?

By offering tax incentives and grants

By imposing stricter regulations

By limiting the growth of small businesses

What does GDP measure?

The total value of goods and services produced in a country

The total tax revenue of a country

The level of competition in an economy

The unemployment rate in an economy

Economic growth generally offers opportunities for businesses because:

It leads to higher demand for goods and services

It lowers the availability of raw materials

How do higher interest rates affect consumers?

Consumers may choose to save more and borrow less

Consumers are more likely to borrow and spend money

Consumers become more confident about spending

Consumers have more disposable income

Why might a government decrease interest rates?

To encourage currency appreciation

Which of the following would likely occur if interest rates decrease?

Businesses may decide to borrow more for expansion.

Consumers are likely to save more money.

Inflation is expected to decrease significantly.

There will be an immediate increase in unemployment.

What is a common area where governments spend money to support the economy?

Infrastructure projects, such as roads and bridges

How do government subsidies benefit businesses?

By providing financial assistance to reduce production expenses

High unemployment might benefit businesses by:

Making it easier to hire workers at lower wages

Increasing the demand for luxury goods

Reducing the number of people available to work

What happens when a currency appreciates?

Exports become more competitive

How does currency depreciation affect importers?

The demand for foreign goods increases

How does currency appreciation affect importers?

The demand for foreign goods decreases

Exports become cheaper for foreign customers

How does currency appreciation affect exporters?

Exports become more expensive for foreign customers

Exports become cheaper for foreign customers

Why is inflation a threat to businesses?

It leads to uncertainty and higher costs for raw materials

It increases the value of money

It causes more investment in the economy

What is meant by the 'real value' of money?

The purchasing power of money after adjusting for inflation

Money that can only be spent on specific items

Money used for large investments

How does low consumer confidence affect businesses?

Consumers may reduce their spending and save more

Consumers are likely to increase spending and borrowing

Businesses see a rapid increase in sales

Consumers invest more in luxury items

IB Business Management - BMT - STEEPLE Analysis Quiz

Authored by Kate Gleaves

Business

12th Grade

45 Questions

Used 6+ times

IB Business Management - BMT - STEEPLE Analysis Quiz

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MULTIPLE CHOICE QUESTION

20 sec • 1 pt

What does the 'S' in STEEPLE stand for?

Security

Social

Sustainability

Scientific

MULTIPLE CHOICE QUESTION

20 sec • 1 pt

Which of the following factors would be considered under the 'Technological' aspect of STEEPLE?

Consumer buying habits

Automation and robotics

Inflation rates

Political stability

MULTIPLE CHOICE QUESTION

20 sec • 1 pt

An increase in health consciousness among consumers would be analyzed under which factor in a STEEPLE Analysis?

Political

Economic

Social

Legal

MULTIPLE CHOICE QUESTION

20 sec • 1 pt

Which of the following would fall under 'Economic' factors in a STEEPLE Analysis?

Interest rates

Recycling regulations

Political stability

Technological advancements

MULTIPLE CHOICE QUESTION

20 sec • 1 pt

What kind of factor is climate change in a STEEPLE Analysis?

Ethical

Social

Environmental

Political

MULTIPLE CHOICE QUESTION

20 sec • 1 pt

Changes in laws related to employment rights would be categorized under which STEEPLE factor?

Political

Technological

Legal

Economic

MULTIPLE CHOICE QUESTION

20 sec • 1 pt

A company investing in research and development for new products would be responding to which factor in a STEEPLE Analysis?

Legal

Technological

Ethical

Social

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IB Business Management - BMT - STEEPLE Analysis Quiz

What does the 'S' in STEEPLE stand for?

Which of the following factors would be considered under the 'Technological' aspect of STEEPLE?

An increase in health consciousness among consumers would be analyzed under which factor in a STEEPLE Analysis?

Which of the following would fall under 'Economic' factors in a STEEPLE Analysis?

What kind of factor is climate change in a STEEPLE Analysis?

Changes in laws related to employment rights would be categorized under which STEEPLE factor?

A company investing in research and development for new products would be responding to which factor in a STEEPLE Analysis?

How would a business use a STEEPLE Analysis in strategic planning?

Which of the following is a Political factor in a STEEPLE Analysis?

What does the 'E' in STEEPLE stand for when referring to the factor related to societal expectations that go beyond regulations and laws?

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