Question 1

The considerations involving the beliefs,values,attitudes and opinions of those in a firm's environment represent the ______.
A) Social factors
B) Personal factors
C) Economic factors
D) Political factors

Accepted Answer

The beliefs, values, attitudes, and opinions of those in a firm's environment are part of the social factors that can affect the business. Social factors include the demographic, cultural, and societal influences that impact the behavior of consumers and businesses. Personal factors refer to individual characteristics, economic factors relate to the financial conditions of a market, and political factors refer to government policies and regulations.

Question 2

Which of these is NOT an example of a federal ecological legislation?
A) Air Quality Act
B) Refuse Act
C) Occupational Safety and Health Act
D) Resource Recovery Act

Accepted Answer

The Occupational Safety and Health Act is focused on workplace safety and health, not specifically ecological concerns. The other options all relate to federal ecological legislation.

Question 3

Business is now being held responsible for:
A) Using only underground dumping sites
B) Cleaning up its previous environmental damage
C) Municipal sewer systems
D) Ensuring that a "thermal blanket" is created

Accepted Answer

Business is now being held responsible for cleaning up its previous environmental damage through various acts such as the Comprehensive Environmental Response, Compensation, and Liability Act (CERCLA) or Superfund.

Question 4

One of the most profound social changes in recent years is:
A) The decreased population
B) An increasing number of women in the workforce
C) The heavy reliability of children in the workforce
D) Increased education of U.S. citizens

Accepted Answer

The increasing number of women in the workforce has had a major impact on society, including changing traditional gender roles, increasing household income, and promoting gender equality. This trend has been ongoing for decades and has had far-reaching effects on how society operates. The other options listed are not as significant social changes in recent years.

Question 5

The quasi-science of anticipating environmental and competitive changes and estimating their importance to an organizations operation refers to
A) Technological forecasting
B) Ecology
C) Industry environment
D) Operating environment

Accepted Answer

The quasi-science of anticipating environmental and competitive changes refers to technological forecasting, which involves identifying and tracking trends and developments in technology that could impact an organization's operations. This process helps organizations stay ahead of the curve and make informed decisions about how best to adapt to changes in the operating environment. Ecology (B) is the study of the relationships between living organisms and their environment, while industry environment (C) and operating environment (D) are both terms used to describe the competitive landscape in which an organization operates. While these factors are certainly important when it comes to understanding an organization's strategic position, they are not the primary focus of technological forecasting.

Question 6

Political factors define the ______ parameters within which firms must operate.
A) Economic
B) Legal and regulatory
C) Global
D) Social and cultural

Accepted Answer

Political factors refer to the legal and regulatory environment of a country, which sets the rules and boundaries within which firms must operate. This includes laws, regulations, policies, and political institutions that affect business operations and decisions. Economic, global, social, and cultural factors are also important, but they do not define the parameters as specifically as legal and regulatory factors do.

Question 7

A firm's external environment includes a remote sector,industry sector and an operating sector.The remote sector includes which of the following categories?
A) Political, technological, economic and social
B) Political, supplier power, economic and labor
C) State government, production, social and economic
D) Mission, company profile and competition

Accepted Answer

The remote sector of a firm's external environment is typically composed of four categories: political, technological, economic, and social. These categories represent factors that are generally beyond the control of the firm but can profoundly influence its operations and strategic decisions. This includes things like government regulations, technological advancements, economic trends, and social attitudes and demographics. Option B focuses more on the supplier power and labor, which are part of the operating sector, while Option C includes state government and production, which are subsets of the political and economic categories. Option D is incorrect as it lists internal factors instead of external factors.

Question 8

Encompassed in political considerations is/are:
A) Social values
B) Disposable income
C) Anti-trust laws
D) Age distribution

Accepted Answer

The answer of Encompassed in political considerations is/are:
A) Social values
B)...

Question 9

The term ______ refers to the relationships among human beings and other living things and the air,soil and water that supports them.
A) Pollution
B) Ecology
C) Operating environment
D) Remote environment

Accepted Answer

Ecology refers to the study of the relationships and interactions among living organisms and their environment, including the air, soil, and water that support life. It encompasses not only the natural environment but also the human impact on it. Pollution, operating environment, and remote environment are related concepts, but they do not capture the full scope of the interrelationships between living organisms and their environment.

Question 10

The factors beyond the control of the firm that influence its choice of direction and action,organizational structure and internal processes refers to
A) Directional strategies
B) External environment
C) Organizational processes
D) Internal environment

Accepted Answer

The external environment refers to the various factors outside the control of the firm that influences its operations such as economic factors, technological advancements, socio-cultural factors, legal and political environment, and competition. These factors can greatly affect the strategic direction, organizational structure, and internal processes of a firm.

Question 11

Political activity may have a significant impact on which of the following governmental functions?
A) Religious orientation
B) Customer function
C) Manufacturer function
D) Social changes

Accepted Answer

The answer of Political activity may have a significant impact...

Question 12

The ______ environment compromises factors that originate beyond and usually irrespective of,any single firm's operating situation.
A) Remote
B) Industry
C) Operating
D) Internal

Accepted Answer

The remote environment includes factors such as economic, social, political, technological, and ecological factors which a single firm cannot control but can be affected by. The industry environment includes factors that are specific to the industry in which the firm operates. The operating environment includes factors that directly affect a firm's operations such as suppliers, customers, and competitors. The internal environment includes factors that are within a firm's control such as its resources, capabilities, and culture.

Question 13

The remote external environment includes:
A) Creditors
B) Industry factors
C) Employee
D) Ecological factors

Accepted Answer

Ecological factors are part of the remote external environment, which includes aspects that a company cannot directly control but can affect its strategy and performance, such as climate and environmental changes.

Question 14

Technological factors are a part of a firm's ______ environment.
A) Industry
B) Operating
C) Economic
D) Remote

Accepted Answer

Technological factors are considered a part of the remote environment, which consists of factors that are external to the firm and beyond its immediate control, such as economic, demographic, legal, and technological factors. The operating environment includes factors that are directly related to the firm's day-to-day operations, such as suppliers, customers, competitors, and the labor market, while the industry environment includes factors that affect all firms in a particular industry, such as market structure, industry trends, and regulatory environment.

Question 15

Supplier power is an example of a factor that falls within the _________ environment.
A) Economic
B) Operating
C) Industry
D) Remote

Accepted Answer

Supplier power is a factor that is specific to the industry environment, as it pertains to the bargaining power that suppliers hold over companies within a particular industry. Factors within the industry environment include competition, supplier power, buyer power, threat of substitutes, and threat of new entrants. The economic environment refers to broader macroeconomic factors, the operating environment focuses on organization-specific factors, and the remote environment pertains to external factors that are beyond the control of the organization.

Question 16

When we consider the level of disposable income,we are normally considering:
A) Technological factors
B) Economic factors
C) Political factors
D) Social factors

Accepted Answer

Disposable income is a part of personal income that remains after paying taxes. It is a measure of the money an individual or household has left over for spending or saving. As taxes are one of the main boons of economic factors, disposable income is also a result of economic factors. Therefore, the best choice is B - Economic factors.

Question 17

A profound social change in the recent years has been
A) The accelerating interest of consumers and employers in quality of life issue
B) The decelerating interest of foreigners seeking jobs and immigrant status in the U.S.
C) The remarkably high placement of U.S. high school education in math and science in the world
D) The global warming effect

Accepted Answer

Quality of life issues such as work-life balance, mental health, and sustainability have become increasingly important in recent years. Consumers are demanding that companies prioritize these issues and employers are recognizing the value of promoting the well-being of their employees. This shift in values has had a significant impact on businesses and society as a whole. The other options listed do not accurately reflect a recent profound social change.

Question 18

The external environment can be divided into various interrelated subcategories:
A) Remote, political, social
B) Remote, social, operational
C) Remote, industry, operating
D) Technological and social

Accepted Answer

The external environment of a business is often divided into three interrelated subcategories: remote, industry, and operating environments. This categorization helps businesses analyze different external factors that could impact their operations.

Question 19

Awareness of technological changes in its industry helps the firm to:
A) Interpret new regulations
B) Act slowly and carefully
C) Exploit new markets
D) Forecast social change

Accepted Answer

Being aware of technological changes in its industry helps the firm in exploiting new markets as it can adapt to the changing technology and create innovative products or services that cater to the evolving needs of the customers. It may indirectly help in forecasting social change or interpreting new regulations, but the primary benefit is in exploring new markets. Acting slowly and carefully may not always be the best strategy in a rapidly changing technological landscape.

Question 20

Threats to life-supporting ecology caused principally by human activities is an industrial society are commonly referred to as
A) Technology
B) Co-efficiency
C) Pollution
D) Product differentiation

Accepted Answer

The term commonly used for threats to life-supporting ecology caused principally by human activities in industrial society is "pollution." The other options, technology, co-efficiency, and product differentiation, do not accurately describe the negative impact of human activities on the environment.

Quiz 4: The External Environment

The considerations involving the beliefs,values,attitudes and opinions of those in a firm's environment represent the ______.

Which of these is NOT an example of a federal ecological legislation?

Business is now being held responsible for:

One of the most profound social changes in recent years is:

The quasi-science of anticipating environmental and competitive changes and estimating their importance to an organizations operation refers to

Political factors define the ______ parameters within which firms must operate.

A firm's external environment includes a remote sector,industry sector and an operating sector.The remote sector includes which of the following categories?

Encompassed in political considerations is/are:

The term ______ refers to the relationships among human beings and other living things and the air,soil and water that supports them.

The factors beyond the control of the firm that influence its choice of direction and action,organizational structure and internal processes refers to

Political activity may have a significant impact on which of the following governmental functions?

The ______ environment compromises factors that originate beyond and usually irrespective of,any single firm's operating situation.

The remote external environment includes:

Technological factors are a part of a firm's ______ environment.

Supplier power is an example of a factor that falls within the _________ environment.

When we consider the level of disposable income,we are normally considering:

A profound social change in the recent years has been

The external environment can be divided into various interrelated subcategories:

Awareness of technological changes in its industry helps the firm to:

Threats to life-supporting ecology caused principally by human activities is an industrial society are commonly referred to as