BE - Unit Test 1

What is the objective of business?

• To make money

• To have happy customers

• To make good products

• To have a good brand image

Environmental factors help us by:

• Showing the risks involved in a business

• Showing the gaps that exist which we could cater to

• Showing the difference between us and our competitors

• All of the above

Potters 5 Forces Model scans the:

• Internal environment

• Micro-external environment

• Macro-external environment

• Competition

Suppliers are:

• An internal factor

• A micro-external factor

• A macro-external factor

• None of the above

An example of an Economic indicator is:

• GDP

• Interest Rate

• Unemployment

• All of the above

An example of a capitalistic economy is:

• India

• North Korea

• United States of America

• China

An example of an internal factor is:

• Power index

• Power game

• Power distance

• Power sharing

Culture is:

• Positive behaviour

• Collective behaviour

• Individual behaviour

• Negative behaviour

Customers are:

• Main sources of income for a business

• Loyal when satisfied

• Sensitive to various factors

• All of the above

Failure to understand the business environment would lead to:

• Inappropriate strategies

• Increase in Losses

• Manpower Turnover

• Dissatisfied customers