WorksheetsKey Factors Affecting Business
Total questions: 25
Worksheet time: 15mins
Change in the employment rights of workers in the UK is a?
Environmental factor
Social factor
Political factor
Legal factor
A competitive environment affects business when [Select TWO answers]
There are many small coffee shops competing with each other in a neighborhood
Product improvement doesn’t happen with the competition among smartphone manufacturers
There is just one grocery store in a small town
Competitors directly affect business and decisions taken by the owner of a bookstore
Companies and organizations using recycled products because of
Economic factors
Environmental factors
Social factors
Legal factors
Microenvironment refers to:
None of the above
Forces that are close to the company and affect its ability to serve its customers
Demographic challenges faced by the business at large
Economic challenges faced by the business
Consider the scenario of a new tech startup evaluating its strategic position with a SWOT analysis: Statement A: In SWOT analysis, identifying the company's innovative technology and strong leadership team falls under Internal factors. Statement B: In SWOT analysis, recognizing emerging competitors and market saturation as challenges are considered external factors.
Both statements are incorrect
Only statement B is correct
Only statement A is correct
Both statements are correct
Read the following statements about PESTLE analysis and answer accordingly: Statement A: A Start-Up business should take into account societal attitudes and cultural trends, which fall under the Social category of the External Environment. Statement B: Environmental evaluations include sustainability factors in business operations. Select one:
Statement B is correct.
Statement A is correct.
Both statements are incorrect
Both statements are correct.
Read the statements and answer accordingly: Statement A: In a monopoly, the manufacturer doesn’t face any competition, and products have no substitutes Statement B: In an oligopoly, the companies don’t compete with each other but collude to obtain higher market returns. Select one:
None of the statements are correct.
Both statements are correct.
Only statement B is correct.
Only statement A is correct.
The age of the population and the introduction of Artificial Intelligence are:
Social and Technological factors
Environmental factors
Political and social factors
Legal and environmental factors
Imagine a construction company preparing for a new project. The laws and guidelines for safety at work that this company must take into account are:
Environmental factors
Legal factors
Economic factors
Political factors
The two E’s in PESTLE Analysis stand for
Three types of decisions in organizations include:
Strategic decisions
All of the Above
Tactical decisions
Operational decision
When a farmer brings dairy products in the UK, this person can’t change the market price and agrees with the going one. Which type of competitive environment is this?
Monopoly
Oligopoly
Monopolistic
Pure Competition
Which among the following is not a Macroenvironment element?
Marketing Intermediaries
Social factors
Political factors
Internal competition
Which of the following are/is the characteristics of a Macro Environment:
It includes the company itself and marketing intermediaries.
It affects organizational decision-making, and its performance and strategy.
It influences all business groups in large.
Both B&C
(a) is a deliberate planning method used to evaluate the strengths, weaknesses, opportunities, and threats of an organization or project.
Which of the following is NOT one of Porter's Five Forces?
Competitive rivalry
Bargaining power of suppliers
Product differentiation
Threat of new entrants
Which of the following factors is NOT typically considered in a PESTLE analysis?
Social
Political
Competitive
Economic
In a SWOT analysis, which component focuses on identifying factors within the organization that are favorable for achieving objectives?
Opportunities
Strengths
Weaknesses
Threats
Imagine the government decides to implement a rule on the maximum rent that can be charged for apartments in a city to make housing affordable. What is this an example of?
Minimum price set by the government below which a good or service cannot be sold
Maximum price set by the government above which a good or service cannot be sold
Price determined by market forces without government intervention
Price control that regulates the wages of workers in a specific industry
Which of the following is a potential consequence of a price floor?
Increase in consumer surplus
Black markets and illegal trading
Decrease in producer revenue
Surplus of goods in the market
Imagine you are running a restaurant and your main supplier decides to increase the price of vegetables or provide lower quality produce. Which force is this scenario illustrating?
Bargaining power of suppliers
Threat of substitute products
Bargaining power of buyers
Threat of new entrants
When analyzing the threat of new entrants, which factor would NOT increase barriers to entry?
Access to distribution channels
High economies of scale
Low capital requirements
Strict government regulations
When conducting a PESTLE analysis for a new eco-friendly product launch, the "E" stands for:
Environmental
External
Economic
Ethical
Which aspect of PESTLE analysis involves examining government stability, tax policies, and trade regulations in the UK?
Technological factors
Social factors
Economic factors
Political factors
In a market with perfect competition, how many coffee shops would you expect to find in a large city?
A single government-controlled coffee shop
Numerous small coffee shops
A few large coffee shop chains
One dominant coffee shop chain
