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Business Environment Question Paper

This document contains 30 multiple choice questions about business strategy and the environment. It covers topics like scanning the external environment for changes, different types of environments (macro, micro, general), SWOT analysis, demographic factors, economic indicators like GDP, reforms in India, the banking and financial sector, business ethics, social responsibility, strategic management, and implementing organizational change.

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Threja B R
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83 views8 pages

Business Environment Question Paper

This document contains 30 multiple choice questions about business strategy and the environment. It covers topics like scanning the external environment for changes, different types of environments (macro, micro, general), SWOT analysis, demographic factors, economic indicators like GDP, reforms in India, the banking and financial sector, business ethics, social responsibility, strategic management, and implementing organizational change.

Uploaded by

Threja B R
Copyright
© All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
Available Formats
Download as PDF, TXT or read online on Scribd

Business Environment and Strategy

1] Which of the following identifies the early signals of possible environment


changes?

A] Scanning

B] Monitoring

C] Forecasting

D] Assessing

2] Which of the following are not the dimensions of the business environment?

A] Economic & Social

B] Technological & Economic

C] Legal & Social

D] Increase competition

3] Which of the following is not a feature of Business environment?

A] Interrelated Elements

B] Dynamics

C] Complexity

D] Continuous

4] Identify the environment which can be defined as the environment concerned with
the entire social system?

A] General environment

B] Operating environment

C] Social environment
D] Political environment

5] Identify the analysis which helps to diagnose the competitive forces and to identify
the strength and weakness?

A] SWOT analysis

B] Competitive analysis

C] Structural analysis

D] Financial analysis

6] Which of the following are generally considered as controllable factors?

A] Internal factors

B] Cost of production

C] External factors

D] Competitors strategy

7] The environment that consists of demographic, economic, natural, technological,


politic and cultural collectively refer to which environment?

A] Macro

B] Micro

C] Business

D] Marketing

8] Identify which of the study of the human population in terms of size, density,
locations, gender, race, occupation and other statistics.

A] Psychographics
B] Demography

C] Environmentalism

D] Consumerism

9] Identify the reason why firms monitor their demographic environment.

A] To explain historical trends

B] To predict political change

C] To predict the size of market segments

D] To predict business cycles

10] Identify how will you measure Economic growth.

A] The CPI

B] The CBI

C] GDP

D] MPC

11] Which one of the following refers to the enterprise owned and managed jointly by
the Government and Private sector?

A] Joint sector

B] Joint venture

C] Public private participation

D] Private public participation

12] To solve the balance of payment crisis in 1991, how the Indian Rupee was taken
forward against foreign currencies?
A] Appreciated

B] Depreciated

C] Revalued

D] Devalued

13] The industrial license was abolished for most industries except which of the
following during the 1991 reforms?

A] Steel

B] Food processing

C] Liquor

D] Banking

14] A performance and credit rating scheme has been launched by the MSME
Ministry to assess creditworthiness and capabilities of industries in the sector. What
is it called?

A] Performance and Credit Rating Scheme

B] Zero Defect Zero Effect Certification

C] Performance and Economy Rating Scheme

D] Performance and Zero-Defect Certification

15] India on 13th Dec 2016 signed an agreement for MSME financing with which
bank?

A] IBRD

B] WB

C] ADB
D] IMF

16] What does ZED stand for in the context of MSMEs and certification in
manufacturing?

A] Zero Defect Zero Effect

B] Zero Effect Zero Defect

C] Zero Effectiveness Zero Defectiveness

D] Zero Delays Zero Effect

17] Identify the full Form of MSME?

A] Medium, Small and Micro Enterprises

B] Micro, Small and Medium Enterprises

C] Macro, Small and Medium Enterprises

D] Micro, State and Medium Enterprises

18] Banking sector falls under which of the following sectors?

A] Industrial sector

B] Service sector

C] Primary sector

D] Manufacturing sector

19] Which of the following system allocates saving efficiently in an economy to


ultimate users either for investment in real assets or for consumption?

A] Economic system

B] Banking system
C] Financial system

D] Market system

20] What is the feature of business ethics?

A] Based on moral and social values

B] Gives protection to social groups

C] Requires education and guidance

D] Based on the interest of the society

21] Identify the need for social responsibility.

A] For serving the interest of society

B] For getting moral understanding

C] For getting help in addressing legal, ethical and commercial issues well

D] Values of Business

22] Identify the process of analysing the environment for the identification of the
factors which impacts the business.

A] Environmental analysis

B] Environment scanning

C] Business analysis

D] Factor analysis

23] Strategic Management is the management of an organization’s resources to


achieve which of the following?

A] Financial needs
B] Goals and Objectives

C] Competitive Advantage

D] Market Share

24] Competitive advantage can be best described as which of the following?

A] Increased efficiency

B] What sets an organization apart

C] A strength and the Organizations

D] Intangible resources

25] Name a process of selling all of a company’s assets for their tangible worth.

A] Divestiture

B] Concentric Diversification

C] Liquidation

D] Unrelated integration

26. In BCG matrix, what is the label of the horizontal axis?

A] Relative Market share

B] Business Strength

C] Industry Growth Rate

D] Market Growth Rate

27. Strategic planning is also called as which of the following?

A] Tactical planning
B] Short term planning

C] Long term planning

D] Business policy

28. Strategic planning is formalization of planning where plans are made for what
time periods?

A] Indefinite

B] Medium

C] Short

D] Long

29. Which of the following means crafting a combination of strategies and picking
out the best one to achieve the organizational goals and objectives and thereby
reaching the vision of the organization?

A] Strategy implementation

B] Strategic analysis

C] Strategy formulation

D] Strategic management

30. Change in culture, attitude, and mindset calls for which of the following?

A] Engagement, involvement and motivation of employees

B] Rigorous performance appraisal

C] Performance benchmarking

D] Organization design change

Common questions

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Implementing a 'Zero Defect Zero Effect' approach enhances quality control, minimizes waste, and reduces environmental impact. This can result in cost savings, improved market reputation, and compliance with regulatory standards, thereby strengthening competitive advantage .

Strategic management must adapt by ensuring employee engagement, motivation, and organizational design changes. These adaptations align organizational culture with strategic goals, fostering an environment that supports transformation and innovation .

Devaluation of a national currency can improve a country's balance of payments by making exports more competitive and imports more expensive, thus increasing export revenues and reducing import spending .

Strategic planning provides a framework for setting long-term objectives and aligning resources towards achieving them. In uncertain environments, it offers flexibility and guidance, helping organizations to navigate changes and seize emerging opportunities .

Macro-environmental factors such as demographic, economic, natural, technological, political, and cultural aspects collectively shape market conditions and influence strategic decisions. Understanding these factors is critical as they dictate the broader context within which firms operate, affecting long-term planning and competitiveness .

Scanning identifies early signals of potential changes in the business environment. It allows organizations to anticipate changes and adapt their strategies accordingly, contributing to strategic management by aligning organizational goals with external conditions .

SWOT analysis provides insights into an organization's internal strengths and weaknesses, while competitive analysis examines external competitive forces. Together, they enable a comprehensive understanding of market position by marrying internal capabilities with external realities .

Demographic analysis aids in identifying market segments by analyzing population characteristics such as size, density, and socioeconomic variables. This helps businesses tailor products to specific groups, thereby enhancing targeting efficiency and strategic alignment with consumer needs .

Joint ventures in emerging markets present opportunities such as shared risk, resource pooling, and market access. However, challenges include cultural differences, regulatory hurdles, and divergent objectives between government and private entities .

The business environment's features of interrelated elements and dynamics imply that strategic planning must be flexible and adaptive, allowing organizations to respond to complex interactions and changes effectively .

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