Environmental Scanning and Industry Analysis Quiz

What does environmental scanning help a business do?

• Reduce employees

• Predict environmental changes

• Ignore changes

• Increase costs

Which of the following is part of the natural environment?

• Technology

• Climate

• Marketing

• Finance

What do societal environment forces include?

• Only technological forces

• Only political-legal forces

• Economic, technological, political-legal, and sociocultural forces

• Only economic forces

Who are considered customers in the task environment?

• Only employees

• Only competitors

• Only suppliers

• People who buy products or services

What does SWOT stand for?

• Strengths, Weaknesses, Opportunities, Threats

• Strengths, Wages, Options, Threats

• Sales, Wages, Options, Trends

• Suppliers, Workers, Operations, Technology

What is a threat in a SWOT analysis?

• A unique technology

• A potential harm to an organization

• A loyal customer base

• A strong brand

What does PESTEL analysis help identify?

• Internal factors only

• External forces affecting an organization

• Only customer preferences

• Only supplier issues

What does the 'E' in PESTEL stand for?

• Economic

• Environmental

• Employee

• Entertainment

What does Porter's Five Forces analyze?

• Only customer satisfaction

• Competitive strength and position

• Supplier relationships

• Employee performance

What does buyer power refer to?

• How buyers can influence price decreases

• How suppliers can influence prices

• How employees can influence sales

• How competitors can influence marketing