OBJ 2.03 Environmental Scan

The BVM Company examined economic and political factors to determine if it should expand its operations. The company obtained the information by conducting a(n) ___________ analysis.

• Strengths

• Internal

• Environmental

• Tactical

While conducting an environmental scan, a convention bureau obtained information revealing that consumer confidence was gaining strength in the nation. This is an example of a(n) __________ factor.

• Political

• Economic

• Demographic

• Technological

To gather information for an environmental scan, Greenburg Industries gathers 12 of its loyal customers to get insight about their needs, wants, and preferences. What method is the business using to obtain information?

• Personal Interview

• Focus Group

• Online Survey

• Conference Call

When a company considers how a new trade agreement among several countries may impact its business activities, it is evaluating a(n) ________ factor.

• Universal

• Political

• Cultural

• Social

What is a legal factor that businesses commonly examine when conducting environmental scans?

• Cost of living

• Trade Regulations

• Beliefs and Values

• Natural Resources

When conducting an environmental scan, which of the following is an economic factor that a business should consider:

• Local Demographics

• Restricted Sales Territories

• Consumer Spending Habits

• Global Trade Regulations

As a result of conducting an environmental scan, a business might find that the rate of unemployment is slowly increasing, which is an example of a(n) __________ factor.

• Political

• Geographic

• Economic

• Regulatory

What is an economic factor that businesses might identify as a result of conducting an environmental scan?

• Unemployment Rate

• Increased Regulation

• Population Shift

• Lifestyle Adjustment

Which of the following elements is part of a business's external environment?

• Marketing

• Personnel

• Tax Code

• Research and Development

Which of the following is an external factor that could impact a business?

• Changes in advertising strategy

• Decrease in production levels

• Increase in online shopping

• Decrease in advertising budget