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Planning a business- External Environment
Planning a business- External Environment
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StudBud Administration
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Revision of Chapter 2 Material
Flashcards
60 cards
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Practice quiz
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Questions
60
Answers
1
Which external factor refers to anything which encourages people to spend or not spend money?
Competitive
Social
Technological
Economic
2
Changes and opportunities in the field of 3D printing is an example of
Technological Issues
Societal Attitudes
Legal Regulations
Global issues
3
Helping the environment by using solar power is an example of which macro factor?
Economic Issues
Global Issues
CSR
Environmental Issues
4
Attitudes, behaviour, taste and lifestyle of people in the community is
Social Activities
Societal Attitudes
Customers
External Factors
5
_________ is the price charged or paid for the use of money that has been deposited or borrowed
Inflation Rate
Unemployment Rate
Tax Rate
Interest Rate
6
Which of the following is NOT a legal or government regulation a business must follow?
trading hours
development
Health regulations
The genre of music played in the office
7
Which of the following is not a way businesses can be socially responsible?
Pay suppliers low prices
Minimize waste and Pollution
Protect the safety of customers
Develop the skills of employees
8
Which of the following is not an internal influence on a business?
Management
Location
Resources
Economic
9
The broad conditions & trends in society and the economy within which a business operates.
Macro Environment
Societal attitudes
The Government
Economic factors
10
In the macro environment it's important that a business ensures it's up-to-date with technology
True
Not sure
False
11
Which external environment does the business directly interact with?
Oprah Winfrey
Operating Table
Operations system
Operating Environment
12
The two types of external environment are
Internal and Operating
Macro and Operating
Customers and Competitors
Day-time and Night-time
13
Define macro factors
Factors influencing business decisions
Outside factors controlled by businesses
a probiotic dairy product mixed with the shirota strain
Factors impacting businesses & are outside business control
14
Interest Rates and business confidence are part of:
Economic Conditions
Societal Attitudes
Technological Issues
Legal Regulations
15
Which of the following is not an example of a global issue?
Offshoring labour
Overseas competitors
Interest Rates
Exchange Rates
16
When consumer confidence is low people are....
more likely to spend money
less likely to spend money
no change in spending
Happy
17
Which of the following is not an example of technology affecting a business
Internet
Occupational Health and Safety
Self serve checkouts
Social Media
18
Customers, Competitors, Suppliers and Special Interest groups are the stakeholders in the...
Operating Environment
Internal Environment
Macro Environment
Business Environment
19
Which of the following is not a negative of having only online sales?
Expertise to run it
Smaller market
Websites crash
Expensive for a quality website
20
Which of the following is a feature of a recession?
Sales and Profits High
Unemployment rising
Inflation may increase
Wages and salaries increasing
21
Anti-Discrimination laws are found in which act?
Equal Opportunity Act 2010
Employment Act 2010
Anti-Harassment Act 2010
Anti- Discrimination Act 2010
22
Assessment of economic, environmental and social performance of a business
Triple Batch Line
Triple Bottom Line
Triple Jump Line
Triple Effect Line
23
Set of influences that relates to economic activity: eg, interest rates, wages and unemployment
Technological
Economic
Global
CSR
24
The issues related to the growing use of tools, techniques or systems?
Political
Technological
Global
CSR
25
The environment that you have some control over is:
Macro
Staff
Operating
Internal
26
Laws made by parliaments and courts which affect how businesses operate and behave?
Economic
Technological
Political
Societal
27
Which of the following is not an external influence in the business environment?
Political
Market
Management
Legal
28
Adhering to anti-discrimination regulations is part of
Internal Environment
CSR
Operating environment
Macro environment
29
What are the three environments in which a business operates?
Macro, Operating and Internal
External, Operating and Macro
Social, economic and legal
Technological, social and economic
30
The government introducing laws related to workplace conditions relates to which environment?
Operating
Macro
Internal
Staffing
31
How much control does a business have over the macro environment?
None
Little
Full
Some
32
Occupational Health and Safety is an example of which factor?
Social
Technological
Legal
Political
33
The effect of hi-tech communications, lower transport costs and unrestricted trade
Global Economy
Globalisation
Economic Boom
International relations
34
Offshoring labour means.....
expanding the business overseas
the same as outsourcing
Contracting work to a third party
doing the work in another country
35
Which of the following is not part of expansion in the business cycle?
Increasing consumer spending
Increasing business investment
Unemployment falling
Rising Unemployment
36
_______ is a tax of 10% on most goods and services consumed in Australia
Great and Small Tax
Income Tax
Goods & Services Tax
Interest Rate
37
The word environment refers to.......
A small area of land
A business that operates with finances
Aspects and surroundings that a business works within
A park that contains trees
38
_____ is the price of one country's currency expressed in terms of another country's currency
Exchange Rate
Inflation Rate
Tax Rate
Interest Rate
39
When interest rates are relatively low, businesses.....
are more likely to borrow money
are less likely to borrow money
will find it difficult to repay loans
are less likely to expand
40
Pressures that arise as a result of businesses operating in worldwide markets?
Political
Societal
CSR
Global
41
Which of the following is NOT a part of the operating environment
Staff
Competitors
Suppliers
Special Interest Groups
42
Groups of people who attempt to directly influence a business to adopt certain policies
Special policy groups
Special interest groups
Special groups
Happy Tree Friends
43
Which of the following is not part of Troughs in the business cycle?
Wages and salaries at high levels
High level of Unemployment
Business operating below full capacity
Sales & Profits at low levels
44
The environment over which the business has most control
External Environment
Internal Environment
Operating Environment
Macro Environment
45
_____ refers to the growing use of digital techniques or systems by businesses
Ethical Issues
Economic Issues
Technological Issues
Macro Issues
46
Factors of the macro environment are....
Political, Legal, Social, Economic and Technological
Government, Hourly Rate and Tax Charges
Business Structure, Policies, Processes, Planning and Staff
Customers, Suppliers, Competitors and interest groups
47
Which of the following is not a way to protect intellectual property?
Patents
Patients
Copyright
Trademarks
48
Pressures on a business to take into account the broader social welfare of the community?
Economic
Political
Societal
CSR
49
In the business environment, which type of influences can a business control?
Internal
External
50
Exchange rates are not affected by which of the following?
Rate of inflation
Interest Rates
The balance of Trade
GST
51
Which of the following is not a benefit of technological development?
Products & businesses becoming rapidly obsolete
Create new products
Increase efficiency and productivity
Improve the quality and range of goods and services
52
The exchange rate is......
important for exporting businesses
all of the above
important for importing businesses
determined by the supply and demand for currency
53
Which of the following is NOT a likely effect of rising interest rates on business?
Greater opportunity to expand operations of the business
Decreased profitability due to higher loan repayments
Less Sales- consumers having lower disposable incomes
Less opportunity to expand due to greater cost of borrowing
54
Why may a company want to move production overseas?
Support struggling economies
Lower costs
Improve working conditions
Exploit economic strengths
55
Music released worldwide would be protected under.....?
Patent
Trademark
Copywrong
Copyright
56
Which of the following would not be from the internal environment?
Policies
Employees
Corporate Culture
Special Interest Groups
57
What is one way that competitors don't influence a business?
New Technology
Prices
Globalisation
Locations
58
Employment levels is an example of which factor?
Economic
Personnel
Social
Political
59
The impact of consumers on a business could include which of the following
Labor strike
Increased interest rates on loans
Fewer materials available for production due to drought
Increased demand for clothes in a particular style
60
Business confidence is influenced by....
Consumer confidence
economic activity
the share market
all of the above
