Question : Case Study 5:
EFG Corp. is a multinational company operating in multiple countries. The company is facing challenges in adhering to different cultural practices and customs in each country of operation.
Q:- Which dimension of the business environment is highlighted in this case?
Option 1: Economic environment
Option 2: Social environment
Option 3: Technological environment
Option 4: Political environment
Correct Answer: Social environment
Solution : The correct answer is (B) Social environment
The dimension of the business environment highlighted in this case is the social environment. The challenges faced by EFG Corp. in adhering to different cultural practices and customs in various countries relate to the social and cultural aspects of the environment. The social environment includes factors such as cultural norms, customs, social practices, and diversity that can impact how a multinational company operates in different regions.
Q:- What is the business environment factor affecting EFG Corp. in this case?
Option 2: Technological environment
Option 3: Government policies
Option 4: Cultural diversity
Q:- How can EFG Corp. effectively manage cultural diversity?
Option 1: Implement standardized policies globally
Option 2: Ignore cultural differences and focus on profitability
Option 3: Adapt to local customs and practices
Option 4: Centralize decision-making processes
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