Chapter 4 Quiz: Business Internal Environment

What does the internal environment of a business comprise of?

• External market conditions

• Government regulations

• Elements within the business over which it has complete control

• Competitor's business strategies

Which of the following is included in the internal environment of a business?

• Legal business structure

• Customer demographics

• Social trends

• Economic climate

Which element is not considered part of a business's internal environment?

• Corporate culture

• Shareholders

• Management

• Supplier relationships

What does the operating environment of a business include?

• Economic conditions, political landscapes, and technological advancements

• Customers, suppliers, competitors, and interest groups

• Internal management teams, employees, and shareholders

• Marketing strategies, financial resources, and operational processes

Which environments make up the external environment of a business?

• Operating and internal environments

• Macro and micro environments

• Operating and macro environments

• Internal and global environments

What do customers expect from a business in terms of product and service quality?

• High quality and reliable services

• Low prices only

• Fast delivery only

• Limited selection of products

What is expected from suppliers in their relationship with a business?

• To provide materials on time and reliably

• To offer the lowest prices

• To advertise the business

• To handle customer service

What is the primary role of competitors in the internal environment of a business?

• To provide financial support

• To add pressure to remain competitive in terms of innovation, differentiation, quality, and price

• To collaborate on various projects

• To reduce market competition

What do interest groups aim to influence in the internal environment of a business?

• To decrease operational costs

• To increase employee satisfaction

• To adopt measures that suit their special interests

• To expand the business internationally

What does the macro environment in business management include?

• Employee satisfaction, customer feedback, internal policies

• Laws and regulations, economic conditions, societal attitudes, technological issues, global issues

• Marketing strategies, operational processes, financial planning

• Product development, supply chain management, sales techniques