Wk 2 knowledge check

Satisfactory Essays
• 1
The environment that is typically subject to much influence by the firm is remote industry
OPERATING
external
• 2
What Human Resource component within its operating environment is a major element of a firm’s ability to satisfy its personnel needs?
Labor union
REPUTATION
Benefit packages
Employment rates
• 3
When managers consider the general availability of credit, the level of disposable income, and the propensity of people to spend, they are considering what factors?
Business factors
ECONOMIC FACTORS
Social factors
Political factors
• 4
The quasi-science of anticipating environmental and competitive changes and estimating their importance to an organizations operation refers to
TECHNOLOGICAL FORECASTING business analysis
SWOT analysis environmental scanning
• 5
This factor considers or provides creative adaptations that can suggest possibilities for new products or for improvements in existing products or in manufacturing and marketing techniques.
Sales factor
TECHNOLOGICAL FACTOR
Operations factor
Industry factor
• 6
This information is used to explain or predict some aspect of customer behavior with regard to a product or service. Information such as usage rate, benefits sought, and brand loyalty can provide significant aid in the design of more accurate and profitable strategies.
Demographic information
Geographic information
BUYER BEHAVIOR
Psychographic information
• 7
A firm’s external environment is divided into various subcategories that include remote, social, and operations industry, technology, and internal political, social, and industry
REMOTE, INDUSTRY, AND OPERATING
• 8
This is considered a collection of firms that offer similar products or services that customers perceive to be substitutable for one another..
Monopoly
INDUSTRY
Oligopoly
Environment
• 9
A firm’s access to needed personnel is affected primarily by four factors that include
THE FIRM’S REPUTATION AS AN EMPLOYER, LOCAL EMPLOYMENT

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