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