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MCQs on General and Competitive environment
The PESTEL model looks at the macroenvironment, using the political, Economic, Social/cultural, Technological, Ecological/environmental and Legal environment. Here on MCQs.CLUB we have prepared easy to learn Multiple-Choice Questions (MCQs) that fully cover practice questions and quizzes on the General and Competitive environment with definition, meaning, examples and types, competitive business environment, competitive environment in marketing, competitive environmental forces an overview, Evaluating the General Environment, The Elements of the General Environment. These MCQs on Business Environment are also useful for business management exams, competitive exams and professional accountancy exams.
- The PESTEL model looks at the macroenvironment, using the political, Economic, Social/cultural, Technological, Ecological/environmental and Legal environment.
- True
- False
- Mission and objectives need to be developed with sets of interests in mind such as:
- the interests of those who have to carry them out e.g. managers and staff;
- the interests of those who focus on the outcome e.g. shareholders, customers, suppliers etc.
- Both A&B
- None
- Identify the steps include in stakeholder power analysis.
- Identify the key stakeholders
- Establish their interests and claims on the organization.
- Determine the degree of power that each group holds through its ability to force or influence change as new strategies are developed.
- Consider how to divert trouble before it starts.
- Develop mission, objectives and strategy, possibly prioritising to minimize power clashes.
- (I) (III) and (IV) only
- (II) (IV) and (V) only
- All of the above
- None
- The key to success for the international firm lies with researching and understanding each country’s culture and proactively building cultural empathy with a view to establishing a long-term market position. Cultural empathy is achieved as:
- Acquire incompany knowledge and experience.
- Continuous market research.
- Visit foreign country and customers.
- All of the above
- Factors affecting level of rivalry are:
- The extent to which competitors are in balance.
- Stage of the life cycle, High storage costs.
- High exit barriers
- All of the above
- The environmental analysis is extremely useful for organisations, it is becoming increasing difficult to undertake. The business environment has become more volatile for a number of reasons, including:
- Continuing weakness in the global economy has led to unpredictable demand in the market and made it more difficult for many organisations to access credit.
- Increasing globalisation of many markets means that organisations may be affected by issues in many different countries.
- Changing technology is leading to the development of new products and services and/or altering how existing ones are delivered.
- All of the above
- Which of the following is correct?
- Internal environmental analysis will look for strength and weakness.
- External environmental analysis will look for opportunity and threat.
- Both A&B
- None
- Which of the following is correct?
- SWOT analysis is a tool to assist the position audit process.
- Position auditing asks the question ‘where are we now?’ and is viewed by many as being the starting point for the process of strategic choice.
- Both A&B
- None
- The position audit would seek to identify:
- Threats focusing on weakness
- Threats focusing on strength
- Opportunity focusing on strength
- Opportunity focusing on weakness
- All of the above
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