Key Factors Affecting Business

Change in the employment rights of workers in the UK is a?

• Environmental factor

• Social factor

• Political factor

• Legal factor

A competitive environment affects business when [Select TWO answers]

• There are many small coffee shops competing with each other in a neighborhood

• Product improvement doesn’t happen with the competition among smartphone manufacturers

• There is just one grocery store in a small town

• Competitors directly affect business and decisions taken by the owner of a bookstore

Companies and organizations using recycled products because of

• Economic factors

• Environmental factors

• Social factors

• Legal factors

Microenvironment refers to:

• None of the above

• Forces that are close to the company and affect its ability to serve its customers

• Demographic challenges faced by the business at large

• Economic challenges faced by the business

Consider the scenario of a new tech startup evaluating its strategic position with a SWOT analysis: Statement A: In SWOT analysis, identifying the company's innovative technology and strong leadership team falls under Internal factors. Statement B: In SWOT analysis, recognizing emerging competitors and market saturation as challenges are considered external factors.

• Both statements are incorrect

• Only statement B is correct

• Only statement A is correct

• Both statements are correct

Read the following statements about PESTLE analysis and answer accordingly: Statement A: A Start-Up business should take into account societal attitudes and cultural trends, which fall under the Social category of the External Environment. Statement B: Environmental evaluations include sustainability factors in business operations. Select one:

• Statement B is correct.

• Statement A is correct.

• Both statements are incorrect

• Both statements are correct.

Read the statements and answer accordingly: Statement A: In a monopoly, the manufacturer doesn’t face any competition, and products have no substitutes Statement B: In an oligopoly, the companies don’t compete with each other but collude to obtain higher market returns. Select one:

• None of the statements are correct.

• Both statements are correct.

• Only statement B is correct.

• Only statement A is correct.

The age of the population and the introduction of Artificial Intelligence are:

• Social and Technological factors

• Environmental factors

• Political and social factors

• Legal and environmental factors

Imagine a construction company preparing for a new project. The laws and guidelines for safety at work that this company must take into account are:

• Environmental factors

• Legal factors

• Economic factors

• Political factors

The two E’s in PESTLE Analysis stand for