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