What does Business Environment refer to?

• A set of internal factors only

• A collection of financial statements

• A set of factors affecting business performance

• A fixed set of rules for businesses

Which of the following is NOT a feature of Business Environment?

• Highly dynamic

• Predictable

• Sum of all factors affecting business

• Brings opportunities and threats

What is the significance of Business Environment Analysis?

• It eliminates the need for market research

• It helps in ignoring external factors

• It is the foundation of strategy formulation

• It focuses solely on internal factors

Which of the following is an internal factor?

• Competitors

• Economic conditions

• Organizational culture

• Government regulations

What are specific factors in the business environment?

• Factors that have no impact on business

• Factors that are internal to the organization

• General factors affecting the economy

• External factors with direct impact on the organization

Which of the following is NOT a general factor?

• Ecological factors

• Customer preferences

• Technological factors

• Political factors

What is the first step in the process of environment analysis?

• Environment assessing

• Environment monitoring

• Environment forecasting

• Environment scanning

What does environment scanning involve?

• Gathering information to detect emerging trends

• Focusing only on internal issues

• Developing financial reports

• Ignoring market trends

Which method is NOT used in environment scanning?

• Delphi Technique

• Possibility Diffusion Matrix

• Financial forecasting

• Customer Value Profile

What is the relationship between business and environment?

• There is a symbiotic relationship

• Environment has no impact on business

• They are completely independent

• Business can ignore environmental changes