Quiz 2 Flashcards
(20 cards)
What is the process of gathering, analyzing, and dispensing information for tactical or strategic purposes?
Environmental Scanning
Includes Organization and Management, SWOT Analysis, Research, and All of the above.
What entails obtaining factual and subjective information on the business environments in which a company is operating or considering entering.
Environmental Scanning Process
Also includes Organization and Management, SWOT Analysis, Research, and All of the above.
What refers to institutions and forces that affect organizational performance?
All of the above
Can also refer to Internal Environment and Environment.
Which environment in an organization is uncontrollable?
External Environment
Other options include Internal Environment and Natural Environment.
What refers to the environment that has an indirect influence on the business?
External Environment
Other options include Internal Environment and Natural Environment.
Which of the following does not belong to the group: Competitor, Media, Customer, Employee, Economic?
Economic
The others are direct stakeholders in a business.
Which of the following does not belong to the group: Political, Legal, Environmental, Ecological, Social, Technological?
None of the above
All listed items are part of the external factors affecting a business.
Who are considered the lifeblood of the business?
Customers
Other options include Producers, Suppliers, and Employees.
Under what phase of the business cycle does a company focus on acquiring customers?
Introduction
Growth
Maturity
Decline
Introduction
This phase is critical for establishing market presence.
Employees is for human while capital is for?
Money
Price
Financial
All of the above
Financial
Other options include Price, Financial, and All of the above.
Who is someone that has shares in a company?Shareholder
Stockholder
Investor
All of the above
All of the above
Also known as Stockholder or Investor.
What refers to the ways that a company can produce goods or deliver services better than its competitors?
Competitive Advantage
Also relates to Service Business and Organizational Culture.
What is the process organizations can use to compare and measure their services, products, and operational processes against other organizations?
Benchmarking
Related to Competitive Advantage and Organizational Culture.
What is used to denote an ongoing rise in the general level of prices quoted in units of money?
Inflation
Opposite term is Deflation.
What concept describes how a company contributes to the well-being of communities and society through environmental and social measures?
Corporate Social Responsibility
Related to Corporate Intelligence and Corporate Governance.
What is a concise explanation of an organization’s reason for existence, describing its purpose, intention, and overall objectives?
Mission
Related to Vision, Goals, and Objectives.
True or False: Positive media attention can make an organization (or its products) and negative media attention can ‘break’ an organization.
True
Media influence is significant in public perception.
True or False: Organizational culture is the set of beliefs and values shared by organization members.
True
It guides members as they work together to achieve their common purpose.
True or False: Profit organizations are designed for the purpose of achieving their goals, giving service to clients without expecting monetary gains or financial benefits.
False
Profit organizations typically seek to generate financial returns.
Which of the following does not belong to the group: Bargaining Power of Customers, Threats of New Entrants, Power of Suppliers, Threats of Substitute Products, Rivalry among Competitors?
Power of suppliers
All listed items are components of competitive forces in the market.
