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WorksheetsBusiness Environment - IBS
Total questions: 10
Worksheet time: 5mins
What is the primary purpose of a for-profit business?
Fulfill a charitable mission
Provide goods or services to generate profit
Educate customers
Donate to social causes
What does the business environment refer to?
Internal and external factors influencing a business
Customer preferences
Employee satisfaction
Economic policies
Which of the following is part of the internal business environment?
Customers
Economic conditions
Organizational culture
Competitors
What are the two components of the external business environment?
Internal and External
Microenvironment and Macroenvironment
Suppliers and Competitors
SWOT Analysis
Which of the following is an example of a macroenvironment factor?
Company suppliers
Organizational culture
Demographic trends
Internal processes
The microenvironment directly affects a company’s ability to:
compete in the market
reduce production costs
increase employee satisfaction
expand globally
What is the primary goal of a business?
Operate internationally
Serve customers and generate profits
Set government policies
Innovate technology
What does SWOT stand for?
Strengths, Weaknesses, Opportunities, Threats
Strategy, Weakness, Opportunities, Techniques
Solutions, Weaknesses, Objectives, Targets
Strength, Willpower, Optimism, Techniques
Which of the following is a weakness in a SWOT analysis?
Strong brand identity
Lack of capital
Expansion into new markets
Advanced technology
What is the difference between micro and macro environment?
Micro refers to broad societal factors; macro refers to internal factors.
Micro involves external factors close to the business; macro involves broader external factors.
Micro refers to competitors; macro refers to internal operations.
Micro includes technology; macro excludes it.
