WorksheetsBA Revision Session 6 - External Environmental Factors
Total questions: 10
Worksheet time: 6mins
What does SWOT stand for?
Sales, Weakness, Opportunities, Targets
Strengths, Wages, Objectives, Threats
Strengths, Weakness, Opportunity, Threats
Selective, Wealth, Open, Tact
A PESTLE analysis looks at the external factors that can affect an organisation. These are Political, (a) , Social, Technological, Environmental and Legal factors.
In an extremely competitive market, a business may be forced to:
Increase costs to enable price reductions
Increase costs to enable price rises
Cut costs to enable price rises
Cut costs to enable price reductions
The external environmental concerns features of the business environment that are:
Outside the control of a business
Within the control of a business
Positive for a business
An example of a likely consequence for a market as a consequence of an ageing population would be:
Increased demand for care home services
Lower demand for private healthcare
Higher demand for private education
Increased demand for childcare services
Each of the following are example of environmental issues facing most businesses, except which one?
Sustainability of resource usage
Cost of rising energy taxes
Waste and pollution from the production process
Impact of high net migration into the UK
What are market forces?
The sequences of processes involved in the production and distribution of products and services.
The actions of buyers and sellers that cause the prices of goods and services to change, without being controlled by the government.
A business model that helps a company be socially accountable to itself, its stakeholders, and the public.
A general increase in prices and fall in the purcahsing value of money.
Which of the following is a primary factor influencing the business environment?
Internal management policies
Government regulations
Employee satisfaction
Company culture
What is a common strategy businesses use to adapt to changing market conditions?
Ignoring market trends
Increasing product prices without reason
Conducting market research
Reducing product quality
Which of the following is NOT a component of a PEST analysis?
Political factors
Economic factors
Technological factors
Internal factors
