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QUIZ > Orgman Lesson 3 > Flashcards

Orgman Lesson 3 Flashcards

1
Q

Economic Instability

problem
Impact

A

Fluctuations in the economy such as inflation, supply chain costs, etc

Can lead to reduced in demands, operational costs, challenges in finance

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2
Q

technological changes

problems
impacts

A

rapid advancements in technology require businesses to stay up-to-date with new tools

result inefficiencies, reduced competitiveness

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2
Q

Competition

problem
Impact

A

Pressure business to maintain or lower prices

erodes margins, reduced market share

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3
Q

regulatory and compliance issues

problems
impact

A

must navigate complex regulatory environments and comply with various laws and regulations

non-compliance can lead to legal penalties, fines, and damage to the company’s reputation

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4
Q

Human resource challenges

problem
impact

A

attracting, retaining and managing talent is a significant challenge. issues include high turnover rates, skill shortages, and employee engagement

HR can affect productivity, increase requirement, and training costs. Impact overall organizational performance

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5
Q

Encompasses all external and internal factors that affect its operations, strategies, and performance

A

Environment of the firm

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6
Q

Direct impact on business operations

ex: Employees, board of directors, and managers

A

Internal environment

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7
Q

Indirect but significant influence on operations of the business. factors that cannot be controlled by the firm

A

external environment

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8
Q

what is micro environment

A
  • operating environment
  • consists of the customer, suppliers, regulatory, agencies and competitor
  • direct relevance to the business operations but are uncontrollable to a certain extent
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9
Q

what is macro environment

A
  • General Environment
  • Consist of economic, political, social, legal, and technical environment
  • beyond the control of the firm but are important determinants of success
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10
Q

The actual monitoring and evaluation of information from external and internal environment of the business organization

A

Environmental scanning

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11
Q

what are the three modes of environmental scanning

A

AD HOC
REGULAR
CONTINUOUS

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12
Q

Not often done applicable only during a crisis situation. Determine whether a problem is either internal or external

A

AD HOC

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13
Q

Usually done at least once a year or at regular interval

A

Regular

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14
Q

continuous collection of data on a broad range of environmental factor

A

continuous

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15
Q

SWOT defenition

A

strengths
weaknesses
opportunities
threats

16
Q

PEST defenition

A

political
economic
social
technological

17
Q

what is strength

A

Company’s attributes that give a competitive edge over others

Good performance and a positive reputation in the business scene

Market leader, good brand image, quality and products and services, good reputation

18
Q

what is weaknesses

A

attribute that needs to change or improve

lack of access to technology

19
Q

what is opportunities

A

event that can give a positive impact to the company

20
Q

what is threats

A

external factors which may negatively impact the company

21
Q

SWOT ANALYSIS
Harmful

A

W T

22
Q

SWOT ANALYSIS
Helpful

A

S O

23
Q

SWOT analysis
internal origin

A

S W

24
Q

Swot analysis
external origin

A

O T

25
Q

Include laws, regulations, and restrictions that affects the company

A

political

26
Q

directly affect the capability of business to generate profits

A

economic

27
Q

Include demographic aspects such as age group affiliation religion civil status and economic status of consumers

A

social

28
Q

include research develeopment activities, automation, licensing, patenting

A

technological

29
Q

what are the forms of business organization

A

sole proprietorship
partnership
corporation

30
Q

Business that can be owned and controlled by an individual, a company, or limited liabality partnership.
there are no partners

A

sole proprietorship

31
Q

arrangement between two or more people to oversee business operations

A

partnership

32
Q

legal entity that is separate and distict from its owners. possess many of the same rights and responsibilities as individuals. They can enter contracts, loan and borrow money, sue be sued.

A

corporation

QUIZ (18 decks)

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