Quiz on Business Adaptation to Environment

What are the two categories of an enterprise's environment?

• General and Specific

• Technological and Ecological

• Internal and External

• Economic and Political

Which of the following is NOT a factor in the general environment of a business?

• Economic conditions

• Customer preferences

• Technological advancements

• Political factors

What must a business do to adapt to market and customer needs?

• Increase prices

• Reduce product quality

• Analyze consumer needs

• Ignore market trends

What is one way a business can optimize costs?

• Reduce workforce

• Limit supplier options

• Increase production costs

• Innovate and improve productivity

Which of the following is a key aspect of innovation for a business?

• Investing in outdated technology

• Avoiding research and development

• Focusing solely on existing products

• Adopting new technologies

What does compliance with legal and regulatory requirements include?

• Avoiding quality checks

• Disregarding labor laws

• Following environmental laws

• Ignoring safety standards

What type of risk involves fluctuations in raw material prices?

• Social risk

• Technological risk

• Environmental risk

• Economic risk

What is the purpose of strategic monitoring in a business?

• To ignore competitors

• To observe market trends

• To increase prices

• To reduce product offerings

How can a business respond to changes in consumer preferences?

• By reducing marketing efforts

• By increasing production costs

• By diversifying its offerings

• By maintaining the same product line

What is a direct impact of the specific environment on a business?

• Economic downturns

• Technological advancements

• Customer behavior

• Political stability