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External and Internal Environment of Business

Quiz by Prof Brenda Corcino

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30 questions
Show answers
  • Q1
    All of the conditions outside the business firm which consist of but not limited to individuals or organisations that influence the changes in the industry, and the geographic jurisdiction where the business operates all pertain to
    External environment
    Micro environment
    Internal environment
    Macro environment
    45s
  • Q2
    Which of the following is the most commonly used approach to analyse the macro-environment factors or forces?
    P-E-S-T-E-L framework
    Five Forces Model
    S-W-O-T Matrix
    S-P-A-C-E Matrix
    30s
  • Q3
    Factors that pertains to the actions and decisions of the local or national government, and inter-government or interagency influencing the businesses are categorized as
    Legal
    Technological
    Political
    Socio-cultural
    30s
  • Q4
    External factors that include use of resources, disposable income levels, interest rates, inflation, economic growth and productivity pertain to
    Socio-cultural
    Political
    Technological
    Economic
    30s
  • Q5
    External factors that include regulatory requirements, standardization, labor and industry regulations, and international trade regulations all refer to
    Political
    Environmental
    Legal
    Technological
    30s
  • Q6
    Contemporary issues such as global warming, recycling, world resource preservation, pollution control, organic farming and concerns on quality of life as well as sustainability of people and planet, are all pertaining to
    Technological
    Political
    Environmental
    Socio-cultural
    30s
  • Q7
    Which of the following sentence explains the significance of using PESTEL framework?
    Useful to review short term trends
    Useful to check & determine priorities
    Useful to check existing patterns
    Useful to project trends
    30s
  • Q8
    Which of the following expresses the impact of “black swans” and structural breaks?
    Entails revisiting the products and processes
    Involves changing workforce in the business
    Requires managers to review policies and procedures
    Necessitates business firms to rethink their purpose and overall strategy
    30s
  • Q9
    Which of the following tells of the application of the idea behind the “black swan” as discovered by David Hume and explicated by Nassim Taleb into business management?
    There can be magnified repercussions from unprecedented events happening.
    Catastrophic events can affect a society, but may not disturb a firm.
    Unpredictable events do occur and they could impact one’s firm greatly.
    There can be no unforeseen risks in every business.
    30s
  • Q10
    The industry life cycle has similar stages with that of a living organism so that a full grown stage characterized by strength, stability, and fully developed capabilities in a living organization, is equated to an equivalent of _________________ in the industry.
    Maturity stage
    Growth stage
    Decline stage
    Introduction stage
    45s
  • Q11
    The decline in industry is often attributed to a change in
    Market conditions
    Leadership
    Product breakthroughs
    Technology
    30s
  • Q12
    The industry ______________ is characterized by pioneers becoming very established and taking dominant industry positions and later competing businesses have become fewer in number.
    Introduction stage
    Growth stage
    Maturity stage
    Decline stage
    30s
  • Q13
    Which of the following statements best tell about the usefulness of industry life cycle model?
    Enables strategists to identify opportunities and threats in a particular industry
    Gives managers power to decide about strategic tools to use to compete
    Allows managers to determine the level of competition in a long-term
    Helps managers determine the feasibility of new investment in a given industry
    30s
  • Q14
    Industry Profitability and Five Competitive Forces framework is an influential contribution to competitive strategy by
    James McKinsey
    Peter Drucker
    Michael Porter
    Jim Collins
    30s
  • Q15
    Which of the following is the central force within the Five Competitive Forces framework?
    Threat of substitute products/services
    Threat of new businesses
    Bargaining power of suppliers
    Intensity of rivalry among competitors
    30s

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