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Worksheetsbusiness environment
Total questions: 8
Worksheet time: 4mins
Which of the following is NOT an importance of the Business Environment?
Enables identifying business opportunities
Helps in tapping useful resources
Increases uncertainty and confusion
Helps in improving performance
What does understanding the Business Environment help businesses to do?
Stay stagnant
Cope with changes effectively
Avoid planning for the future
Eliminate external influences completely
Which of the following is an example of an external influence?
Company policies
Owner’s working style
Government regulations
Employee satisfaction
The term "Overarching Factors" in the context of Business Environment means
Factors affecting only certain firms
Factors impacting all firms regardless of size or industry
Factors that can be ignored by businesses
Factors that only affect multinational firms
Specific factors that affect a business environment include:
Clients, suppliers, and competitors
Political stability only
General economic policies only
Environmental movements only
The term “Uncertain Future” in the context of the business environment
All factors can be precisely predicted
The future is highly stable and predictable
The future is elusive due to many differing forces at work
The future has no impact on business decisions
An example of a Technological Factor in the Business Environment is:
Population demographics
Regulations by the government
Impact of advances in technology
Client satisfaction and emotional values
Political and Legal Factors affect businesses by:
Helping businesses skip regulations
Influencing how a business operates in a region
Making businesses unaffected by taxes
Limiting businesses to only certain customers
