ANALYZING THE BUSINESS ENVIRONMENT (TLE)

Question 1

There are five factors that interact with the business operations and processes. What are they?

Answer 1

1. Demographical Factors
2. Economical Factors
   3.Geographical and Ecological Environment
3. Social and Cultural Environment
4. Political and Legal Environment
5. Technological Environment

Question 2

Which factor embodies a basic process in knowing the human population in therms of its size, density, distribution, and other vital data and statistics?

Answer 2

Demographical Factors

Question 3

In the economical factors, it composes of two categories. What are they?

Answer 3

1. Economic level
2. Competitive forces

Question 4

An economical factor where competition is a trend and therefore it is done extensively by entrepreneurs to out smart each other by employing some competitive tools.

Answer 4

Competitive forces

Question 5

An economical factor where consumers will patronize a product if they have the ability to pay, which is purely dependent on their income.

Answer 5

Economic level

Question 6

Which factor affects the nature and type of industries or businesses that can be established?

Answer 6

Geographical and ecological environment

Question 7

Which factor affects the operation of businesses, as it expected that business practices and approaches are in compliance with the social, cultural attitudes, and values of the people?

Answer 7

Social and Cultural environment

Question 8

Which factor involves businesses need to keep on updating their products and services to cope with the rapid advancement of technology?

Answer 8

Technological environment