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Business Environment Test - 6

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Business Environment Test - 6
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  • Question 1
    1 / -0
    Which factor has been the most rapidly changing component in an organisation's general environment in the past quarter century?
    Solution
    Technological factor has been the most rapidly changing component in an organization's general environment in the past quarter century. Technological factors involve changes taking place in the method of production, use of new equipment and machinery to improve the quality of a product.
    Hence, option (D) is the correct answer.
  • Question 2
    1 / -0
    What does L signify in environment scanning tool - PESTLE?
    Solution
    'L' signify 'Legal' in environment scanning tool-PESTLE. PESTLE analysis is a useful tool for understanding the big picture of the environment in which an entrepreneur is planning to operate.PESTLE stands for Political, Economic, Sociological, Technological, Legal, and Environmental.
  • Question 3
    1 / -0
    Business environment is multifaceted as__________________.
    Solution
    Business environment is multifaceted as it is an opportunity for some but a threat for others. Changes may be viewed differently by different individuals. Early identification of opportunities helps an enterprise to have the first mover advantage and tap the opportunities at the earliest.
  • Question 4
    1 / -0
    R & D activity is a / an __________.
    Solution
    R & D activity is a technological factor. R and D stands for Research and Development. It helps to determine the company's ability to innovate and compete. It helps to increase the revenue of the business organization through new discoveries and inventions of products, strategies, etc..
  • Question 5
    1 / -0
    External forces are the pressures arising within the organization.
    Solution
    External forces are the pressures arising within the organization- this is a false statement.
    External forces includes all entities that exist outside its boundaries, but have significant influence over its growth and survival. An organization has little or no control over external forces but it needs to constantly monitored to adapt to these external changed.
  • Question 6
    1 / -0
    A business has absolute control in the _________(X), whereas it has no control on the___(Y)
    Select the correct answer from the options given below.
    Solution
    A business has absolute control in the internal environment (X), whereas it has no control on the external environment(Y). Internal factors of business environment are within the control of the organization since it deals with the elements which belong within the organization itself. An organization has no or little control over its external boundaries but needs to constantly monitor and adapt to these external changes.
  • Question 7
    1 / -0
    Multiple Choice Questions:
    Which of the following best indicates the importance of business environment?
    Solution
    Social environment refers to the social forces such as customs, traditions, social values, social trend etc. that affect the business opportunities and performance. Among the options given in the question, composition of family represents an example of social environment. If the composition of family is such that it comprises of more of children than elderly persons then, this implies greater business opportunity for baby product companies.
  • Question 8
    1 / -0
    Which of the following banks introduced the first ATM in India?
    Solution
    HSBC banks introduced the first ATM in India.Hongkonk and Sanghai Bank Corporation was the first bank to introduce ATM in India in the year of 1987.
  • Question 9
    1 / -0
    The first international earth summit was held in the year __________.
    Solution

    In June 1992, more than 100 heads of states met in Rio de Janeiro in Brazil, for the first International Earth Summit. The Summit was convened for addressing urgent problems of environmental protection and socioeconomic development at the global level. 
  • Question 10
    1 / -0
    Rapid integration or inter-connection between countries is called __________.
    Solution
    Globalisation is this process of rapid integration or interconnection between countries. MNCs are playing a major role in the globalisation process. More and more goods and services, investments and technology are moving between countries. Most regions of the world are in closer contact with each other than a few decades back. 
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