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WorksheetsPOBF What's Shakin' Biz Environment 5.03D
Total questions: 12
Worksheet time: 24mins
Every new business owner must pay attention to forces operating outside the company that affect its chances for success. These forces are referred to as
the external environment
competition
cultural intelligence
demographics
At each organization’s core should be a commitment to
beating the competition
expanding globally
meeting customer needs
making a profit
Amie talks to customers and suppliers from all over the world on a daily basis. Her company’s involvement with people in so many different countries is due to the trend of
environmental scanning
inflation
social responsibility
globalization
Since Amie deals with people from many different countries, she attempts to become sensitive to differences in their customs and traditions. Amie is cultivating
lobbying
cultural intelligence
social responsibility
competition
Antitrust laws are created to keep competition fair. Which of the following external factors are these laws a part of:
Ethnic/cultural
Social
Economic
Political
Industry associations differ from regulatory agencies in that they
exist to make a profit
don’t have government authority
are formed for social purposes only
have been created to protect consumers
Jonathan has some extra money to spend this month, so he purchases an e-reader. He doesn’t need this product, but he wants it, making it a
discretionary item
technological product
poor buying decision
consumer staple
Economic factors can affect a business’s operations by
creating new legislation
transforming family roles
increasing or decreasing costs
eliminating the competition
Businesses keep track of external changes as part of a process called
cultural intelligence
globalization
lobbying
environmental scanning
Laura is part of a group that is traveling to the state capitol to convince legislators to pass laws that are favorable for small businesses. This is a practice known as
globalization
lobbying
outsourcing
environmental scanning
Which of the following is a way that businesses can plan proactively for environmental changes:
Buying advertising time on TV
Publishing an annual report
Conducting research on a new market
Reviewing last year’s tax code
Which of the following is a true statement about the external factor of competition:
Globalization has made competition less intense
Competition is more influential than political factors
The goal of competition is to cause other businesses to fail
Businesses cannot control their competition
