3.3.6 Social, technological and environmental change

Which of the following is an example of a social change that might affect business strategy?

• Introduction of carbon taxes

• Ageing population

• Advancements in automation

• Exchange rate fluctuations

What is the primary impact of urbanisation on businesses?

• Declining customer bases

• Increased competition for rural businesses

• Greater access to concentrated markets

• Higher tariffs on goods

Migration tends to have what impact on labour markets?

• Reduces labour availability

• Increases the skill shortage

• Increases diversity and labour supply

• Makes businesses less competitive

Which of the following is NOT considered a social factor?

• Cultural norms

• Workforce education

• Inflation rates

• Demographic shifts

What pressure often encourages companies to adopt Corporate Social Responsibility (CSR)?

• Technological advancement

• Shareholder pressure only

• Public expectations and stakeholder influence

• Higher inflation

Which statement best describes the shareholder concept?

• Focus solely on maximising shareholder value

• Focus on environmental preservation

• Focus on satisfying all stakeholder groups

• Focus on technological innovation

The stakeholder concept emphasises:

• Only maximising short-term profits

• Ignoring environmental concerns

• Balancing interests of all groups affected by business decisions

• Cutting costs at all levels

Digital technology impacts the marketing function by:

• Replacing human labour with robots

• Enabling targeted advertising and data-driven campaigns

• Reducing taxation on businesses

• Lowering minimum wage costs

The growth of online businesses has primarily led to:

• Decreased customer expectations

• Increased need for physical stores

• Greater competition and customer convenience

• Lower environmental impact

A technological change like automation is most likely to directly affect:

• Finance department

• Operations management

• Legal team

• Public relations