Practice Micro Environment (1.5.1) - Business Environment

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10 questions

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4 cards from this section. Quick, good the night before a test.
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6 questions · about 4 min · pass mark 70%. Hints available.
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Quiz
4 questions · about 3 min · pass mark 70%. Hints available.
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6 sample questions

Question 1.
What is the micro environment?
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Think about what is directly related to a business's operations.
Question 2.
Name one key factor in the micro environment.
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Consider entities that deal directly with the business.
3Question 3.
What does the term 'micro environment' refer to?
- A. External factors affecting a business
- B. Immediate, controllable factors
- C. Global factors influencing business
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Focus on what is directly related to the business and can be managed.
4Question 4.
True or False: Competitors do not affect a business's strategy.
- True
- False
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Consider how businesses respond to each other.
Question 5.
Evaluate a business that failed due to poor supplier relationships. What could have been done differently?
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Think about collaboration and contingency planning.
Question 6.
Propose a strategy for a business looking to launch a new product in a highly competitive market.
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Consider aspects like value proposition and market positioning.

6 more questions in this section. Enroll free to practise them all.