Tag: business environment

Questions Related to business environment

Which of the following is an example of social environment?

business organisation and correspondence meaning and factors of business environment dimensions of business environment business environment and its dimensions business environment

  1. Money supply in the economy

  2. Consumer protection Act

  3. The Constitution of the country

  4. Composition of family

Show answer
Correct Option: D
Explanation:

Composition of family is an example of social environment. Social environment consists of the customs and traditions of the society in which business is existing. It includes the standard of living, taste, preference and education level of people living in the society where business exists.

To give people the power to share and make the world more open and connected is ______of Facebook.

business organisation and correspondence meaning and factors of business environment dimensions of business environment business environment and its dimensions business environment

  1. Mission

  2. Vision

  3. Both (A) and (B)

  4. None of above.

Show answer
Correct Option: A
Explanation:

To give people the power to share and make the world more open and connected is mission of Facebook as mission can be defined as goal or objective of the organization. Mission statement defines what the organization is all about and its reason for existing.

A_________defines the company's business, its objectives and its approach to reach those objectives.

business organisation and correspondence meaning and factors of business environment dimensions of business environment business environment and its dimensions business environment

  1. Vision statement

  2. Mission statement

  3. Planning statement

  4. Forecasting statement

Show answer
Correct Option: B
Explanation:

A mission statement is a brief description of why a company or nonprofit organization exists. In one to three sentences, it explains what the company does, who it serves, and what differentiates it from competitors. It’s used to provide focus, direction, and inspiration to employees while it tells customers or clients what to expect from the business.

Which factor has been the most rapidly changing component in an organisation's general environment in the past quarter century?

business organisation and correspondence meaning and factors of business environment dimensions of business environment business environment and its dimensions business environment

  1. Global

  2. Economic

  3. Social

  4. Technological

Show answer
Correct Option: D
Explanation:

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 machineries to improve the quality of product.

Business environment consists of which element?

business organisation and correspondence meaning and factors of business environment dimensions of business environment business environment and its dimensions business environment

  1. Internal

  2. External

  3. Both (a) and (b)

  4. None of these

Show answer
Correct Option: C
Explanation:

A business environment consists of internal environment within a company or an organization and the external environment, which are the external environmental factors affecting the business.

To develop caliber professionals facilitating good corporate governance is ___________of ICSI.

business organisation and correspondence meaning and factors of business environment dimensions of business environment business environment and its dimensions business environment

  1. Mission

  2. Vision

  3. Both (A) and (B)

  4. None of above

Show answer
Correct Option: A
Explanation:

To develop professionals of caliber and facilitate good corporate governance is the mission of ICSI. A mission can be defined as a goal or objective of the organization. The mission defines what the organization is all about and its reason for existing.

External forces are the pressures arising within the organization.

business organisation and correspondence meaning and factors of business environment dimensions of business environment business environment and its dimensions business environment

  1. True

  2. False

  3. Partly false

  4. None of the above

Show answer
Correct Option: B
Explanation:
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.

Threat to go on strike is ________ of resistance to change.

business organisation and correspondence meaning and factors of business environment dimensions of business environment business environment and its dimensions business environment

  1. an implicit expression

  2. an overt expression

  3. deferred expression

  4. all of the above

Show answer
Correct Option: B
Explanation:

Threat to go on strike is an overt expression of resistance to change. It is considered as an overt expression of resistance to change as it is directly observable. Threat to go to strike is not hidden expression.

Business environment is multifaceted as__________________.

business organisation and correspondence meaning and factors of business environment dimensions of business environment business environment and its dimensions business environment

  1. it is an opportunity for some but a threat for others

  2. it has multiple work to do

  3. there are 40 many different businesses.

  4. none of the above.

Show answer
Correct Option: A
Explanation:

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.

The government has decided to replace the MRTP Act by a new competition law on the recommendations of the _____________.

business organisation and correspondence meaning and factors of business environment dimensions of business environment business environment and its dimensions business environment

  1. Raghavan Committee

  2. Sivaraman Committee

  3. Narasimhan Committee

  4. Wanchoo Committee

Show answer
Correct Option: A