Course Code
eco828


Question
One of the these direct factors does not affect business environments

Answer
Government



Question
The value that can be assume by the marginal product of a factor is

Answer
Positive, negative and zero value



Question
One of forces model of competitive strategy is

Answer
The bargaining power of buyers



Question
As an administrator, knowledge of business environment will aid in your planning and

Answer
control functions.



Question
Technological change covers the effects of technological change on products, processes, and

Answer
distribution channels



Question
SWOT is a tool for auditing an organization and its

Answer
Environment



Question
Competitors try to differentiate their products from one another in order to avoid the fierce

Answer
price competition



Question
From the list below, identify which factor does not form one of the six key areas of a PESTEL analysis.

Answer
Ecological changes



Question
What can an environmental analysis be used to provide an organisation with?

Answer
A proactive strategy outcome or a reactive strategic situation



Question
Not all aspects of the environmental analysis are equally important. So, what should be the order of priority?

Answer
Customers, immediate competitors, then the broader environment



Question
One of the these direct factors does not affect business environments

Answer
Government



Question
The value that can be assume by the marginal product of a factor is

Answer
Positive, negative and zero value



Question
One of forces model of competitive strategy is

Answer
The bargaining power of buyers



Question
As an administrator, knowledge of business environment will aid in your planning and

Answer
control functions.



Question
Technological change covers the effects of technological change on products, processes, and

Answer
distribution channels



Question
SWOT is a tool for auditing an organization and its

Answer
Environment



Question
Competitors try to differentiate their products from one another in order to avoid the fierce

Answer
price competition



Question
From the list below, identify which factor does not form one of the six key areas of a PESTEL analysis.

Answer
Ecological changes



Question
What can an environmental analysis be used to provide an organisation with?

Answer
A proactive strategy outcome or a reactive strategic situation



Question
Not all aspects of the environmental analysis are equally important. So, what should be the order of priority?

Answer
Customers, immediate competitors, then the broader environment


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