Question : Business environment is a source of both _____________ and ______________.
Option 1: Resources, changes
Option 2: Changes, opportunities
Option 3: Changes, threats
Option 4: Opportunities, threats
Correct Answer: Opportunities, threats
Solution : An understanding and awareness of the business environment is a must for every businessman as ignorance about the business environment can lead to loss of business opportunities and businessmen would not be able to identify threats towards the business enterprise, which may result in failure of a business. So the business environment is the source of both opportunities as well as threats. Hence, option 4 is the correct answer.
Question : Which environment involves the study of changes in technology and its impact on business operations?
Option 1: Technological environment
Option 2: Economic environment
Option 3: Social environment
Option 4: Political environment
Question : Which of the following are the functions of environment?
Option 1: Provide resources for production
Option 2: Environment assimilates waste
Option 3: Both A and B
Option 4: Neither A nor B
Question : Identify the importance of business environment highlighted in the below case. Timely understanding of environment helps to make suitable changes in the organisation.
Option 1: Identify opportunities and getting first mover advantage
Option 2: Identify threads and early warning signals
Option 3: Helps in taping useful resources
Option 4: Helps in coping with rapid changes
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