Unit 3: The Managerial Environment & Diversity

Question 1

General Environment includes?

Answer 1

• Economic Factors
•Sociocultural Factors 
•Political- Legal Factors
•Technological Factors
Natural Environment conditions

Question 2

Specific Environment includes:

Answer 2

• Suppliers
• Customers
• Competitors
• Regulatory agencies

Question 3

How to manage environmental elements?

Answer 3

• Adapt to the environment
• Attempt to influence the environment so that it becomes favorable
• Move operations time a more favorable environment

Question 4

Internal Environment

Answer 4

Includes technology, organization structures, facilities and organizational culture.