Business and its Environment part 2

Question 1

These do not affect organization directly instead they affect the technological economic social cultural political legal and international variables

Answer 1

Indirect action elements

Question 2

Patronage is very vital to the existence of the business firm the manager must continuously strive to keep old customers and attract new ones

Answer 2

Customers

Question 3

This directly influenced the organization this include the consumers competitors labor unions suppliers financial institutions and government agencies they are often referred to as stakeholders of the organization

Answer 3

Direct action element

Question 4

Where there is only a single producer or seller

Answer 4

Monopoly

Question 5

When there are only a few producers or sellers of similar products

Answer 5

Oligopoly

Question 6

When there are many producers or sellers of similar products

Answer 6

Pure competition

Question 7

Business firms achieve their objectives through a combination of activities first and foremost is the transformation of production imports like raw materials energy services equipment and labor into usable products and services.

Answer 7

Suppliers

Question 8

The target market share can be successfully achieved through careful analysis of
in determining the appropriate market strategy the manager will have to consider not only the target consumers but also the

Answer 8

Competitors

Question 9

Pepsi and coke

Answer 9

Direct competitors

Question 10

Pepsi and nescafe

Answer 10

Indirect competitors

Question 11

In many ways business organizations are affected by change in government policies

Answer 11

Government agencies

Question 12

The services of managers and employees are indispensable requirement of business operations

Answer 12

Labor supply

Question 13

Business firms are concerned with maintaining and expanding their operation in either case the company will need funds

Answer 13

Financial institutions

Question 14

What are the 6 direct action components

Answer 14

Customers
suppliers
competitors
labor supply
financial institution
government agencies

Question 15

Has become widely recognized as an important ingredient in the success of the business firms and monitors who does not consider the ___ in his strategy faces the risk of losing out to competitors.

Answer 15

Technological variables

Question 16

These consist of laws and regulations promulgated and implemented at the local national and international levels

Answer 16

Political legal variables

Question 17

Business organization can only flourish if they consider societies customs and values in the planning and implementation of their activities

Answer 17

socio cultural variables

Question 18

This concern will touch the health of the economy in terms of inflation income levels gross domestic product employment and job outlook

Answer 18

Economic variables

Question 19

These elements include changes occurring in various parts of the world which may affect business organizations in various ways and degrees

Answer 19

International variables

Question 20

when significant number of environmental processes that are active business are changing

Answer 20

Dynamic

Question 21

Few forces in the environment are changing to affect the business

Answer 21

static

Question 22

This refers to a number of different factors in the environment such as information capital material people and other organizations

Answer 22

Complexity

Question 23

These are the factors in the external environment change from time to time. For instance incoming levels and the number of qualified teachers may increase or decrease after a few years

Answer 23

Rate of change in this factors

Question 24

Appreciate that is non-routine and changing. characterized by decentralized authority fewer rules and procedures less precise division of Labor wider spans of control more personal means of coordination

Answer 24

Organic design

Question 25

Appropriate for a task that is routine and unchanging. DC sign is characterized by a vertical structure typically operates with more centralized authority mainly rules and procedures a precise division of labor narrow spans of control and formal means of coordination

Answer 25

mechanistic design

Question 26

Refers to management actions to identify and influence and environmental factors to obtain more positive effects on organizational activities

Answer 26

Adaptation of environmental control measures

Question 27

Refers to the transformation of a part or all of the organization to make its activities more compatible with existing environmental conditions

Answer 27

Application of coping strategies

Question 28

are those used protect internal operations from the harmful effects of changes in the environment

Answer 28

coping strategies

Question 29

5 indirect action elements

Answer 29

technological variables
economic variables
socio cultural variables
political legal variable
international variables