Chapter 2 Flashcards
What are organizational boundaries in a business context?
A) Physical locations where a company operates
B) Borders between different departments within a company
C) The separation between a company and its market competitors
D) Distinctions that define the company’s internal and external environment
D
What role does the economic environment play in business operations?
A) It impacts investment decisions and consumer spending
B) It only affects international companies
C) It is irrelevant in the digital age
D) It solely determines the company’s organizational structure
A
Technological advancements affect businesses by:
A) Increasing dependency on manual processes
B) Reducing the need for innovation
C) Creating new business opportunities and operational efficiencies
D) Decreasing the speed of communication
C
How does the political-legal environment influence business operations?
A) By providing cultural guidelines
B) Through laws and government regulations
C) It has no real impact
D) By controlling economic resources
B
The sociocultural environment affects a business by:
A) Influencing consumer behavior and preferences
B) Shaping its financial policies
C) Governing its export capacities
D) Designing its corporate structure
A
What are the emerging challenges in the business environment mentioned in the textbook?
A) Decreased global competition
B) Technological stagnation
C) Economic isolationism
D) Redrawing of corporate boundaries
D
Redrawing corporate boundaries typically involves:
A) Less collaboration with international firms
B) More rigid operational structures
C) Mergers, acquisitions, and strategic alliances
D) Decreased focus on market expansion
C
A key trend in the business environment is:
A) Moving away from digital transformation
B) Increased regulatory scrutiny
C) Static competitive dynamics
D) Greater emphasis on corporate social responsibility
D
The technological environment’s role in business is to:
A) Keep business practices traditional
B) Drive innovation and process improvements
C) Limit access to new marketplaces
D) Encourage manual over automated processes
B
How do businesses evaluate the performance of an economic system?
A) By assessing the political stability of the country
B) Through cultural analyses
C) By monitoring economic indicators like GDP and unemployment rates
D) Based solely on consumer feedback
C
Which of the following does NOT accurately describe an aspect of the political-legal environment affecting Canadian businesses?
A) Regulatory compliance is optional for businesses in technology sectors.
B) Business operations are influenced by laws and regulations.
C) Political stability in Canada contributes to a favorable business environment.
D) Legal changes can impact how businesses operate and compete.
A
Organizational boundaries in a business context primarily function to:
A) Define the physical space of the company.
B) Separate the internal processes of a business from its external environment.
C) Limit the number of new entrants into the market.
D) Dictate the cultural norms within the business.
B
Economic stability in Canada is influenced by all EXCEPT which of the following?
A) Unemployment rates
B) Interest rates
C) Social media trends
D) Inflation rates
C
Which element is least likely to be considered when evaluating the performance of an economic system?
A) GDP growth rate
B) Equity market performance
C) Corporate social responsibility initiatives
D) Balance of trade
C
In the context of business, technological advancements have least directly impacted:
A) Efficiency of production processes.
B) Development of new business models.
C) Laws governing international trade.
D) Marketing and customer engagement strategies.
C
