WorksheetsBusiness Environment
Total questions: 20
Worksheet time: 10mins
True or False? Developing the business strategy forms part of the responsibilities of general management.
True
False
When the manager allocates duties, authority and responsibilities to subordinates (people below her), we call this...
Communication
control
delegation
discipline
The internal business environment consists of...
factors that directly impact the organisation
factors that influence the operations of the business
factors that influence the wider environment in which the business operates
Which of thes options best describes opportunity cost?
The price of taking a chance
The alternative you have to go without in a choice of two things
The cost of opportunity
The price you pay when you make a choice
Just after the declaration of the results of the Lok Sabha Elections, 2009, the Bombay Stock Exchange’s price index (Sensex) rose by 2100 points in a day. Identify the environmental factor which led to this rise?
Legal Environment
Political environment
Social Environment
Economic Environment
The external environment is made up of two layers.. True or False?
False
True
Which is an example of a macro economic factor?
interest rates
research and development
climate change
In order for relationships in the business to be functional (have a positive impact),...
Employees should be trained to be tolerant of differences.
There should be a person who dominates discussions because they were a top student in university.
Employees should be encouraged to communicate in a constructive manner about their ideas and even differences
Time management skills are crucial - especially where the output of one employee becomes the input of another employee
Organisational culture is....
The structure of the organisation - break down of roles and responsibilities
The shared values, beliefs, expectations and attitudes of the people within the organisation (management and staff)
The growing awareness about healthcare has led to an increase in the demand for healthcare products and services in the country. Identify the feature of business environment being described in the above case.
Dynamic nature
Uncertainty
Relativity
Interrelatedness
A business has to offer wider choice in purchasing enhanced quality of goods and services in order to maintain an edge over its competitors. The implementation of the new economic policy with liberalisation, privatisation and globalisation has posed various challenges for the corporate sector. One of the important challenges is explained in the above lines. Identify it.
Increasing competition
More demanding customers
Necessity for change
Market orientation
In order to boost and double India’s export of goods and services to over USD 1,000 billion by 2025, it is important to lower effective corporate tax rate, bring down cost of capital and simplify regulatory and tax framework. Identify the related dimension of business environment.
Social dimension and Legal dimension
Technological dimension and Political dimension
Political dimension and Social dimension
Economic dimension and Legal dimension
