Business Environment Test

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Business Environment Test - 41

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Weekly Quiz Competition

Question 1
1 / -0

Active scanning involves the __________ of continuous resources and, from time to time, supplementing then, with existing resources as needed.

A
conscious selection

B
subconscious selection

C
analysis of threats to the business

D
none of the above

Solution

Environment scanning can be defined as the process by which organisations monitor their relevant environment to identify opportunities and threats affecting their business.
Active scanning is a type of environment scanning where conscious selection are being made from the continuous resources from time to time while the existing resources which are needed by the various units are supplemented to them.
Question 2
1 / -0

Assessment of competitive rivalry does NOT include an understanding of :

A
The extent to which competitors are in balance.

B
Market growth rates

C
Fixed costs, exit barriers and operational efficiency

D
The management structure of an organization

Solution

The assessment of competitive rivalry refers to conducting an analysis regarding the level of competition in the market for a particular organisation which does not include the assessment of the management of that organisation.
Question 3
1 / -0

PESTLE stands for :

A
Political, Environmental, Sociological, Technological, Long and Environmental

B
Political, Economic, Sociological, Theoretical, Legal and Environmental

C
Political, Economic, Sociological, Technological, Legal, and Environmental

D
Political, European, Sociological, Technological, Legal and Environmental

Solution

Environment scanning can be defined as the process by which organisations monitor their relevant environment to identify opportunities and threats affecting their business.
PESTLE analysis is a type of environment scanning where PESTLE stands for political, economic, sociological, technological, legal and environmental sectors of the business where these different sectors of the business are analysed in order to update the business with the current environment.
Question 4
1 / -0

The importance of environmental scanning was first recognised by ______ in the late 1970s.

A
Banking firms

B
Life insurance firms

C
Trading firms

D
All of above

Solution

Environment scanning can be defined as the process by which organisations monitor their relevant environment to identify opportunities and threats affecting their business. The environment scanning is applied to both external as well as internal scanning process as business environment includes both external as well as internal environment in which the business is practiced.
The importance of environmental scanning was first recognized in the late 1970s when the environment in which the business was surviving started affecting the conduct of the business.
Question 5
1 / -0

Environmental scanning begins with gathering information about the _________.

A
Internal environments.

B
External environments.

C
Internal and external environments.

D
None of the above

Solution

Environment scanning can be defined as the process by which organisations monitor their relevant environment to identify opportunities and threats affecting their business. The environment scanning is applied to both external as well as internal scanning process as business environment includes both external as well as internal environment in which the business is practiced.
The process of environment scanning starts with the gathering of information about the internal and external environment of the business environmrnt.
Question 6
1 / -0

Which of the following represent example of general, application and user controls activities, respectively,in the computer environment?

A
Control over access to programs, computer exception reports, and manual checks of computer output

B
Manual checks of computer output, control over access to programs and computer exception reports,

C
computer exception reports, control over access to programs, and manual checks of computer output

D
Manual checks of computer output, computer exception reports and control over access to programs

Solution

Control over access to programs, computer exception reports, and manual checks of computer output represent example of general, application and user controls activities, respectively in the computer environment. All the computer-based activities are related with the computer environment.
Question 7
1 / -0

PESTLE stands for _____________.

A
Political, Environmental, Sociological, Technological, Long and Environmental

B
Political, Enviornmental, Sociological, Theoretical, Legal and Environmental

C
Political, Economic, Sociological, Technological, Legal and Environmental

D
Political, European, Sociological, Technological, Legal and Environmental

Solution

PESTLE analysis is a type of environment scanning where PESTLE stands for political, economic, sociological, technological, legal and environmental sectors of the business where these different sectors of the business are analysed in order to update the business with the current environment.
Question 8
1 / -0

Which of the following are specific forces of business environment?
(I) Investors
(II) Social conditions
(III) Competitors
(IV) Technology
(V) Suppliers
(VI) Political conditions
Select the correct answer from the options given below -

A
(I), (II), (III) & (V) only

B
(II), (IV) & (VI) only

C
(I), (III) & (V) only

D
(II), (III) & (VI) only

Solution

Business environment can be defined as the forces, factors and institutions with which the businessman has to deal with to achieve its objectives. It includes the summation of both external as well as internal environment of the business.
Specific forces are those forces that affect the conduct of a business directly through its application. These forces include investors, social conditions, competitors and suppliers of the business.
Question 9
1 / -0

Business environment is the sum total of all things _________ to business firms and, as such, is _________ in nature.

A
External; aggregative

B
Internal; aggregative

C
External; subjective

D
Internal; optional

Solution

Business environment can be defined as the forces, factors and institutions with which the businessman has to deal with to achieve its objectives. It includes the summation of both external as well as internal environment of the business.
Question 10
1 / -0

Globalisation is characterized by -

A
Increasing inter-action among national economic systems

B
Higher mobility of factors of production

C
More integrated Financial Markets

D
All of the above

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Re-Attempt Weekly Quiz Competition

Business Environment Test - 41

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Business Environment Test - 41

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SHARING IS CARING

Question 1

conscious selection

subconscious selection

analysis of threats to the business

none of the above

Solution

Question 2

The extent to which competitors are in balance.

Market growth rates

Fixed costs, exit barriers and operational efficiency

The management structure of an organization

Solution

Question 3

Political, Environmental, Sociological, Technological, Long and Environmental

Political, Economic, Sociological, Theoretical, Legal and Environmental

Political, Economic, Sociological, Technological, Legal, and Environmental

Political, European, Sociological, Technological, Legal and Environmental

Solution

Question 4

Banking firms

Life insurance firms

Trading firms

All of above

Solution

Question 5

Internal environments.

External environments.

Internal and external environments.

None of the above

Solution

Question 6

Control over access to programs, computer exception reports, and manual checks of computer output

Manual checks of computer output, control over access to programs and computer exception reports,

computer exception reports, control over access to programs, and manual checks of computer output

Manual checks of computer output, computer exception reports and control over access to programs

Solution

Question 7

Political, Environmental, Sociological, Technological, Long and Environmental

Political, Enviornmental, Sociological, Theoretical, Legal and Environmental

Political, Economic, Sociological, Technological, Legal and Environmental

Political, European, Sociological, Technological, Legal and Environmental

Solution

Question 8

(I), (II), (III) & (V) only

(II), (IV) & (VI) only

(I), (III) & (V) only

(II), (III) & (VI) only

Solution

Question 9

External; aggregative

Internal; aggregative

External; subjective

Internal; optional

Solution

Question 10

Increasing inter-action among national economic systems

Higher mobility of factors of production

More integrated Financial Markets

All of the above

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