CA/CMA Foundation : Business Environment Quizzes CA/CMA Business 0 Created on October 04, 2023 By admin Ch 2 Business Environment Quiz 1 1 / 22 Organizations depend upon which environment for Input: Technological Environment Social-Economic Environment External Environment Legal Environment 2 / 22 What is the single word that can best describe today’s business? Technology Persistence Profit making Change 3 / 22 A business is created to provide: Products to Customers Services to Customers Employment opportunities All of the above 4 / 22 Which of the following are not characteristics of business environment: Complex Dynamic Single Faceted Far reaching impact 5 / 22 What is not a characteristic of business environment? Static Complex Far reaching Multi-faced 6 / 22 In order to Survive and proposer a business:I. Must Continuously monitorII. Must adapt itself to the environmentIII. Must Concentrate on its weakness onlyIV. Must Concentrate on its Strength only. I I and II II and III III and IV 7 / 22 As per Traditional authors, the integral elements of business environment include: Internal forces only External forces only Internal & External forces Internal or External Forces 8 / 22 The integral elements of business environment include. Internal forces External Forces Both (a) and (b) Either (a) or (b) 9 / 22 Which one of following is not true about Business Environment? It represents all external forces, factors or conditions that exert same degree of impact on business decisions. The success of business is affected by business environment. The business must continuously monitor and adapt itself to the environment. It includes internal forces only. 10 / 22 Read the following three statements:(i) The environment is constantly changing in nature.(ii) Various environmental constituents exist in isolation and do not interact with each other.(iii) The environment has a far reaching impact on organizations.From the combinations given below select an alternative that represents statements that are true: (i) and (ii). (ii) and (iii) (i) and (iii) (i), (ii) and (iii) 11 / 22 Which one of the following is not true about business ? It is created to provide products or services to customers. It creates job opportunities. It is beneficial to Society. It always gives return on invest-ment. 12 / 22 As per Charles Darwin, who sur-vives? Strongest Most Intelligent Most responsive to change All of the above 13 / 22 In order to survive over the long term, a company must have the: Ability to Prosper Ability to change Both (a) and (b) None of the above 14 / 22 Which one of the following is not an advantage of Business Environment to the business? Determination of Opportunities & Threats Meeting Competition Image Building Identification of financial needs. 15 / 22 The interaction between Business and Environment brings out: Opportunities for the business Threats to the business Opportunities for and Threats to the business Complex and Dynamic analysis. 16 / 22 In relation to solving the problem of shortage of Electricity, “CPP” means: Captive Power Plant Creative Power Plant Central Power Plant Controlled Power Plant 17 / 22 The interaction between Business and its Environment, helps the business in: Determining Opportunities and Threats Continuous learning Giving directions for growth All of the above. 18 / 22 There is a _________ interaction between Business and Business Environment. Close Close and continuous Close and static Continuous and Static 19 / 22 An organisation like Aditya Birla Group has moved from textile to cement, to retail and to financial services as well as telecom due to changing circumstances. This example is related with _________ feature of Business Environment. Complex Dynamic Multi-faceted Far Reaching impact 20 / 22 Now-a-days, the film industry generates revenue from ring tones/caller tunes rather than sale of music C.D. It exhibits _________ feature of business environment. Complex Dynamic Multi-faceted Far Reaching impact 21 / 22 It is easy to understand the business environment in parts but difficult to grasp in totality. Therefore, Business Environment is _________. Complex Dynamic Multi-faceted Far Reaching impact. 22 / 22 Which is not a feature of business environment? Simple Complex Multi fact Dynamic Your score isThe average score is 0% LinkedIn Facebook VKontakte 0% Restart quiz 0 Created on October 04, 2023 By admin Ch 2 Business Environment Quiz 2 1 / 22 Relationship between organisation and environment can be described through: Exchange of information Exchange of resources Exchange of influence and power All of the above 2 / 22 The methods like bargaining, Contracting, Co-opting, creating joint ventures, etc. are related with _________ response of organisation to its environment. Administrative Competitive Collective Ministerial 3 / 22 The formation or clarification of the organization’s mission; the development of objectives, polices and budgets, etc. are the examples of _________ response of organisation to environment: Administrative Competitive Collective None of the above 4 / 22 Which one of the following is organization’s response to its Environment? Administrative Competitive Collective All of the above. 5 / 22 Which one of the following Statement is incorrect? The organisation is dependent on the external environment for disposal of its output of products and services. The organisation scans the external environmental valuables. Apart from gathering in form ability, the organization itself transmits information to several external agencies. The external environment offers strengths and weakness. 6 / 22 In the relationship between organizations and its environment, there is exchange of: Information Resources Influence and Power All of the above. 7 / 22 In relation to resources, “5M” represents: Men, Money, Method, Machine and Material Management,Motivation,Money, Machine and Material Morale, Money, Method, Machine and Material Mobility, Method, Management, Machine and Material. 8 / 22 Which one of the following Companies is affected by FMCG Company ‘Patanjali’ endorsed by Baba Ramdev? Hindustan Unilever Ltd. P&G Ltd. Dabur Ltd. Bajaj Auto Ltd. 9 / 22 Which one of the following is not true about External Environment? It offers opportunities It offers limitations also. It creates pressures & threats It never affects small business. 10 / 22 The nature of relationship between the organization and the Environment depends upon:I. Size of organisationII. Age of organisationIII. Nature of BusinessIV. Nature of ownershipV. Degree of Professionalization of management. I and II I, II and III I, II, III & IV I, II, III, IV & V 11 / 22 Which one of the following is the major areas as regards interaction of organisation and its environment? Exchange of Information Exchange of Resources Exchange of influence power All of the above. 12 / 22 Business functions as a part of broader environment. Business converts resources through various processes. This exchange process may bring _________. Profits Reputation Good Piiblic Image Any of the above 13 / 22 Different organizations use different inputs & produce different outputs. The input-output exchange activity is. Different for organizations A continuous process It calls for an active interaction with the external environment All of the above 14 / 22 Which of the following is/are in-cluded in man-made structures within an environment? Buildings and Roads Furniture Other Physical infrastructure All of the above 15 / 22 Apart from the natural environ-ment, environment of humans include: Family Friends and peers Neighbours and society All of the above. 16 / 22 A Successful business has to _________ the various opportunities and threats in its environment. Identify Identify and appraise Identify, appraise and respond to Identify, appraise, suggest and respond to. 17 / 22 Which one of the following statement is incorrect? Business does not function in an isolated Vacuum. Business function within a whole gambit of relevant environment. Businesses have to negotiate their ways through it. Business must monitor the environment periodically. 18 / 22 In relation to a popular cold drink “Pepsi”, which one of the following is not internal factor? Packaging Scheme & Promotion Distribution Networks Health Awareness 19 / 22 Which of the following statement is incorrect as regards organization’s response to its environment? Organizations must have the capacity to monitor and make sense of their environments. Organizations must identify and attend to the environmental factors and features that all closely related to goal achievement and performance. Organizations must have the interval capacity to develop effective responses. Organisation can function ignoring the environment. 20 / 22 In order to sustain competitive advantage, organizations must achieve an external position vis-a-vis their competitors or perform internally in ways that is/are: Unique Valuable Difficult to imitate All of the above. 21 / 22 In order to respond appropriately, the organizations must: Have the Capacity to monitor Make sense of their environment Identify and attend the environmental factors All of the above. 22 / 22 In an attempt to identify a frame-work for understanding the environ-ment of organizations, various steps are required.I. Explicit Consideration of immediate environmentII. To Check the nature (Static/ Simple/Complex)III. Auditing of environmental influ-ences.The Sequential steps are I, II & III I, III & II II, III and I III, II and I Your score isThe average score is 0% LinkedIn Facebook VKontakte 0% Restart quiz 0 Created on October 04, 2023 By admin Ch 2 Business Environment Quiz 3 1 / 22 Environmental Scanning must identify. Threats existing in the environ-ment Opportunities existing in the en-vironment Threats and opportunities exist-ing in the environment Threats, Opportunities, Strengths and Weaknesses. 2 / 22 _________ is the process by which organizations monitor their relevant environment to identify opportunities and threats affecting their business for the purpose of taking strategic decisions. Forecasting Assessment Scanning None of the above 3 / 22 Analyzing process of change in the business environment involves conceptualizing its as: Complex Static Dynamic Diverse 4 / 22 Select the correct statement out of the following: Environmental factors are totally beyond the control of a single industrial enterprise. Environmental factors are largely beyond the control of a single industrial enterprise. Environmental factors are totally within the control of a single industrial enterprise. None of the above. 5 / 22 Which of the following signifies the utility of Environmental analysis? It gives the time to strategists to anticipate the opportunities The strategists can plan to take optional response to the opportunities. Strategists can develop an early warning system to prevent threats. All of the above 6 / 22 When the company does not react to the demands of the environment by changing its Strategy, the result is : Declining performance of the Company Forgoing of opportunities avail-able Ignoring the treats to the firm. All of the above 7 / 22 Which of the following is not the basic goal of environmental Analysis? Understanding of Current and potential changes taking place in the environment. Provide inputs for strategic decision making. Facilitate and foster strategic thinking in organization. Provide the internal strengths of the organisation. 8 / 22 Business Environment analysis help in: Give directions for growth Determining opportunities and threats Image building All of the above. 9 / 22 Environmental Analysis helps in: Providing input for strategic decision making Turning threat’s to firms advantage Anticipate opportunities and to take optimal responses All of the above 10 / 22 A threat is _________. An unfavourable condition in organization environment which creates risk or damage to the Environment An inherent limitation or con-straint An unfavourable condition in organization environment which consolidates its strength None of the above 11 / 22 Which of the following is a part of process of Environmental Scanning? Scanning Strategic Perceived Environment Change Strategic change All of the above. 12 / 22 Perceiving the needs of the external environment and catering to them, satisfying the expectations and demands of the clientele groups is: Reciprocal agreement Interdependent process Management process Interaction process 13 / 22 Which one of the following is not a factor which need to be considered for environmental scanning? Events Trends Issues Strategy 14 / 22 The businesses should continu-ously _________ and _________ to the environment if it is to service and prosper. Identify, appraise Monitor, adapt Identify, monitor Monitor, appraise 15 / 22 The demands made by interested groups in the light of their concern for issues that arise in response to events and trends is called as _________. Appraisal Evaluation Observation Expectations 16 / 22 _________ are the general tendencies or the causes of action along which events take place. Events Probability Trends Directions 17 / 22 Trends relate to: Happening of events in internal Environment Grouping of similar or related events Demands made by Interested group None of the above 18 / 22 _________ is important and specific occurrence taking place in different environmental sectors. Events Trends Issues Expectations 19 / 22 In environmental scanning, the factor _________ represents certain happening in the internal or external organizational environment which can be observed and tracked. Events Trends Issues Expectations 20 / 22 Internal Environment includes _________. Demography Customer Economic Mission and Objective 21 / 22 Opportunity is _________. Inherent Capacity Strategic disadvantage Favourable condition None of the above 22 / 22 SWOT stands for; Strength, Weakness, Opportunity, Threats Strong, Weak, occurring, Things Strong, Weak, Occurring, Things Strength, Weak, Opportunity, Things Your score isThe average score is 0% LinkedIn Facebook VKontakte 0% Restart quiz 0 Created on October 04, 2023 By admin Ch 2 Business Environment Quiz 4 1 / 22 The emergence of strong new competitors who are likely to offer stiff competition to the existing Companies in an industry is an example of : Threat Weakness Problem Hurdle 2 / 22 The growing demand for the products or services, that a company provides, may be regarded as: Opportunity Strength Weakness Threat 3 / 22 The Micro and Macro environment are the major types of : Interval Environment External Environment Both Internal and External envi-ronment Business Environment. 4 / 22 The interval environment of business organisation is composed of multiple elements existing within the organisation. It includes: Management Current Employees Corporate Culture All of the above 5 / 22 The Micro Environment of external Environment includes: Market Technological Demographic Economic 6 / 22 Which one of the following is not a part of interval Environment? Value System Mission and objectives' Customers Labour Union 7 / 22 Through SWOT analysis: Strengths and weakness existing within the environment can be matched with opportunities and threats in the organisation. Strengths and weakness existing outside the organisation can be matched with opportunities and threats with the internal environment. Strengths and weakness existing outside the organisation can be matched with opportunities and threats with the external environment. Strengths and weakness existing within an organisation can be matched with opportunities and threats in the environment. 8 / 22 All are elements of micro environment except: Consumer Suppliers Competitors Society 9 / 22 Cost structure of an industry is effected by _________ own bargaining power. Organizations Suppliers Consumer Intermediary 10 / 22 _________ have a vested interest in the well-being of the company. Shareholder Directors Owner Employees 11 / 22 According to _________, the aim of the business is to create and retain customer. Peter Drucker Adam Smith Henry Ford Schumpeter 12 / 22 An organization should use it’s _________ to minimize impact of _________. Strengths, weakness Opportunities, weakness Strengths, Threats Opportunities, Threats. 13 / 22 The opportunities and threats operate in _________ environment. Internal External Internal and External Micro 14 / 22 An understanding of the external and internal environment is crucial for the _________ of any organisation. Existence Growth Profitability All of the above 15 / 22 A _________ is inherent capacity which an organisation can use to gain strategic advantage over it’s competitors. Strength Opportunities Threat Weakness 16 / 22 Process of strategy formulation starts with: Appraisal of external and internal environment of the of an organization Performance analysis Choice of strategy None of the above 17 / 22 A Company is having superior re-search and development skills which can be used for new product develop-ment so that the Company gains com-petitive advantage. It is an example of: Potential Strength Competitive advantage Strong Capabilities. 18 / 22 _________ exert a considerable influence on the business organizations. They are the ones who act as a bridge between the manufacture and the marketer. Customers Intermediaries Suppliers Organisation 19 / 22 The price sensitivity of the market is an important factor of which element of Micro environment: Suppliers Market Intermediaries Customer 20 / 22 The market is larger than customers. The market is to be studied in terms of. Actual and potential size Growth prospect Attractiveness All of the above. 21 / 22 Competition is beneficial to the competing firms besides benefiting the? Intermediaries Customers Producers Financiers 22 / 22 Competition brings direct benefit to _________. Customers Suppliers Government Intermediaries Your score isThe average score is 0% LinkedIn Facebook VKontakte 0% Restart quiz 0 Created on October 04, 2023 By admin Ch 2 Business Environment Quiz 5 1 / 22 _________ with their own bargaining power affect the cost structure of the industry. Intermediaries Suppliers Consumer Government 2 / 22 The non-specific elements of the organisations surroundings that may affect its activities are; Customers, suppliers and employees Suppliers, owners, employees Owners, Board of Directors and Employees Customers, Intermediaries, Suppliers. 3 / 22 _________ is also known as the task environment and affects business and marketing in the daily operating level. Micro Environment Macro Environment Mini Environment Internal Environment 4 / 22 Environment which is close to business and affect its capacity to work is known as _________ environment. Micro Macro Internal External 5 / 22 The performance of business in the private sector is measured by: Profitability Customer Satisfaction Number of employees The salary of BOD 6 / 22 Which of the following is not a factor of Demographic Environment? Ethnic Mix Legal Population size Geographic Distribution 7 / 22 Business and technology are: Interrelated Interdependent Interrelated & Interdependent None of the above 8 / 22 Which of the following statement is not a factor influencing sociocultural environment: Family structure and changes in it, attitude towards and within the family, and family values. Educational levels, awareness and consciousness of rights, and work ethics of members of soci-ety. Opportunities arising out of technological innovation. Role of women in society, position of children and adolescents in family and society. 9 / 22 Demographic environment re-lates to: Characteristics of population in an area, district, country or in the World. Influence almost all enterprises in a similar manner Influence almost all enterprises in a similar manner. Positive and negative impact of significant international event. 10 / 22 _________ of the government covers all those principles, polices, rules, regulations and procedures, which direct and control the industrial enterprises of the country and shape the pattern of industrial development. Industrial Policy Monetary Policy Investment Policy Generic Policy 11 / 22 Which of the following factor af-fects the economic environment? Economic System Economic Condition Economic Policies All of the above 12 / 22 Which of the following is not a part of the economic environment? Market and trade cycles Consumer buying patterns Strength of consumer spending Interest and exchange rates 13 / 22 Macro Environment includes _________. Strength Weakness Opportunity All of the above 14 / 22 All are elements of macro environ-ment except: Society Government Competitors Technology 15 / 22 Who has given the preposition, “we have met the enemy and he is us”? Pogo Drucker Kotler None of these 16 / 22 Which one of the following Statement is incorrect? Customers are the people who pay money to acquire an orga-nization’s products. The organizations cannot survive without customers. Consumer is one who ultimately Consumes or uses the product or service. Customer is always a Consumer. 17 / 22 Which of the following is a factor of Demographic Environment? Population size Geographic Distribution Ethnic Mix All of the above. 18 / 22 Study of human population is called as _________ environment. Political Demographic Global Economic 19 / 22 The Central Government has introduced new GST law which has influenced most of the business. It is related with which of the following elements of Macro environment? Demographic Economic Political-Legal Sociocultural 20 / 22 The _________ environment refers to the nature and direction of the economy in which a company competes or may compete. Sociocultural Internal Micro Economic 21 / 22 The important elements in polit-ical-legal environment are: Government, legal and economical. Government, legal and political. Technological, legal and economical. Government, technological and legal. 22 / 22 The Fiscal Policy includes government policy in respect of : Public Expenditure Taxation Public Debt All of the above Your score isThe average score is 0% LinkedIn Facebook VKontakte 0% Restart quiz 0 Created on October 04, 2023 By admin Ch 2 Business Environment Quiz 6 1 / 23 The term PESTLE analysis is used to describe a framework for analyzing: Macro Environment Micro Environment Both Macro and Micro Environ-ment None of above 2 / 23 The two E’s in PESTLE stands for: Economic and Environment Endless and Economic Entry and Exist End and Exit 3 / 23 In the PEST framework for en-vironmental analysis what does the letter E stand for? Ecological Economic Ethical Educational 4 / 23 The following statement relates to which strategic response approach to the environment:They seek to monitor the changes in that environment, analyse their impact on their own goals and activities and translate their assessment in terms of specific strategies for survival, stability and strength. Proceed with caution Least resistance Dynamic response Static Response 5 / 23 Strategically, the businesses show make efforts to : Exploit the opportunities Overcome the threats Both (a) & (b)' Either (a) or (b) 6 / 23 All of the following are the elements of Political factor except. Political Stability Market and Trade Cycles Current and future taxation policy Regulatory bodies and processes 7 / 23 Environmental factors in PES-TLE Matrix include: Energy Consumption Waste disposal Environmental Hazards/legislation All of the above 8 / 23 In PESTLE Analysis, _________ factors are how and to what extent the government intervenes in the economy and the activities of business firms. Political Economic Environmental Legal 9 / 23 In PESTLE Matrix, which of the following is not a part of Social Factor? Health and Safety law Demographics Religious Lifestyle trends 10 / 23 _________ describe a framework for analysis of macro environmental factor. SOCIAL PESTLE POLITICAL MIXED 11 / 23 Which environmental factors regulate the values and beliefs, tradi-tions and customs of society? Political-legal factors Technological factors Economic factors Sociocultural factors 12 / 23 PESTLE analysis does not include _________. Legal Economic Technology Policy 13 / 23 Which of the following factor is not included in Traditional model “PEST” available for environmental monitoring? Political and Legal Economic and Environmental Legal and environmental Economic and Legal. 14 / 23 response not merely recognise and ward off threats but also covert threat into opportunities: Aggressive Dynamic Static Passive 15 / 23 Which of the following is not true as regards dynamic response? They want to control external environment The feedback systems are highly dynamic & Powerful They Converts threats into op-portunities They just manage to survive by way of coping with their changing external environments. 16 / 23 The “Least Assistance approach” of Strategic response to the environ-ment has been followed by the Com-pany: Airtel BSNL Vodafone None of the above 17 / 23 In response to the changes in the environment organizations in general should: Understand the impact of chang-es on the strategy and make ap-propriate modifications. Make efforts that changes are reverted back so that organiza-tions can function smoothly. Ignore the changes. none of these 18 / 23 The strategic approach to the environment followed by “Airtel” may be regarded as: Wait and watch Proceed with Caution Proceed with Dynamic response. Aggressive. 19 / 23 What is the kind of response that businesses should make efforts to exploit the opportunity and thought the threats: Strategic Responses Least resistance Diversify Simplify 20 / 23 _________ is the highest level response of business where they try to convert threats into opportunities. Resistance Caution Dynamic Complex 21 / 23 Which of the following ap-proaches of strategic response to the environment is related with controlling the external environment? Least Resistance Proceed with caution Dynamic Response All of the above 22 / 23 Which of the following is not a characteristic least resistance strategic response: Simple goal maintaining Passive approach Dynamic All of the above 23 / 23 Which of the following is not a FMCG Company: Patanjali Colgate Bajaj Amul Your score isThe average score is 0% LinkedIn Facebook VKontakte 0% Restart quiz