Which of the following is a component of the general environment of an organization?
The general environment is composed of the nonspecific elements of the organization's surroundings that might affect its activities. It consists of five dimensions: economic, technological, sociocultural, political-legal, and international. The effects of these dimensions on the organization are broad and gradual.
Which of the following is a component of the general environment that indirectly affects all organizations quizlet?
Terms in this set (104) The general environment consists of the economy and the technological, sociocultural, and political/legal trends that indirectly affect all organizations.
Which component of the specific environment of an organization consists of rules that govern the business practices and procedures of specific businesses and professions?
Cards
| Term External Environments | Definition Forces and events outside a company that have the potential to influence or affect it |
|---|---|
| Term Industry regulation | Definition Consists of regulations and rules that govern the practices and procedures of specific industries, businesses, and professions. |
•Jan 19, 2013
What are two environmental factors facing organizations quizlet?
The external environment includes these six broad external conditions that may affect the organization: economic, political/legal, sociocultural, demographic, technological, and global conditions.
What does the economic environment consists of?
The term economic environment refers to all the external economic factors that influence buying habits of consumers and businesses and therefore affect the performance of a company. These factors are often beyond a company's control, and may be either large-scale (macro) or small-scale (micro).
How organizations are influenced by their general and task environment?
How do general environment forces affect business? General environment forces have the ability to shape the task environment and a company's abilities to resource needed materials and export goods. They also can affect important aspects of their business, such as their customer's willingness to purchase their product.
Which of the following is part of an organization’s general environment quizlet?
The general environment consists of the economy and the technological, socio-cultural, and political/legal trends that indirectly affect all organizations.
Which of the following is a component of the specific environment that would directly influence a restaurants day to day operation?
Which of the following is a component of the specific environment that would directly influence a restaurant's day-to-day operation? Customers are a major component of a firm's specific environment.
How does economic environment affect business?
The term economic environment refers to all the external economic factors that influence buying habits of consumers and businesses and therefore affect the performance of a company. These factors are often beyond a company's control, and may be either large-scale (macro) or small-scale (micro).
What are the factors or elements affecting business organization?
External factors include political factors, macroeconomic factors, microeconomic factors, social factors, and technological factors. Internal factors are factors from inside the organization that affect a business, such as organizational culture, organizational structure, and management structure.
What are two environmental factors facing organizations?
Here are the nine types of external environment factors that affect businesses:
- Technological factors. …
- Economic factors. …
- Political and legal factors. …
- Demographic factors. …
- Social factors. …
- Competitive factors. …
- Global factors. …
- Ethical factors.
Which one of the following is not a part of the external environment of an organization?
The correct answer is D) competitors. Competitors are not categorized as part of an organization's environment; they are not involved in… See full answer below.
Which are the economic factors?
What is the definition of economic factors? Economic factors may include costs such as wages, interest rates, governmental activity, laws, policies, tax rates, and unemployment. All of these factors occur outside of the business or investment itself, but they heavily influence the value of the investment in the future.
What is this economic system?
An economic system, or economic order, is a system of production, resource allocation and distribution of goods and services within a society or a given geographic area.
What do you mean by economic environment?
The term economic environment refers to all the external economic factors that influence buying habits of consumers and businesses and therefore affect the performance of a company. These factors are often beyond a company's control, and may be either large-scale (macro) or small-scale (micro).
What are the factors that influence the business in the area?
6 Important factors of Business Environment and their Influence on Business
- Economic Systems.
- Economic Policies.
- Economic Condition.
- Political and Legal Environment.
- Social and Cultural Environment.
- Physical and Technological Environment.
What is a part of an organization’s internal environment?
An organization's internal environment is composed of the elements within the organization, including current employees, management, and especially corporate culture, which defines employee behavior. Although some elements affect the organization as a whole, others affect only the manager.
Which of the following is not part of an organization’s environment?
The correct answer is D) competitors. Competitors are not categorized as part of an organization's environment; they are not involved in… See full answer below.
What is internal and external environment in strategic management?
Meaning. Internal Environment refers to all the inlying forces and conditions present within the company, which can affect the company's working. External Environment is a set of all the exogenous forces that have the potential to affect the organization's performance, profitability, and functionality.
What is external environment of an organization?
The big picture of an organization's external environment, also referred to as the general environment, is an inclusive concept that involves all outside factors and influences that impact the operation of a business that an organization must respond or react to in order to maintain its flow of operations.
What are economic influences?
Economic influence is any kind of outside pressure on a business drawn from normal economic cycles. For example, a company that needs to borrow money…
How economic factors affect an organization?
Economic factors affect the economy, including interest rates, tax rates, laws, policies, wages, and governmental activities. These factors are not directly related to the business but influence the investment value in the future.
What economic factors can affect a business?
The following are the top 10 economic factors that affect the business:
- #1- Interest Rate. Interest rate is a major factor that affects the liquidity of cash in the economy. …
- #2 – Exchange Rate. …
- #3 -Tax Rate. …
- #4 – Inflation. …
- #5 – Labor. …
- #6 – Demand / Supply. …
- #7 – Wages. …
- #8 – Law and Policies.
What are internal influences on a business?
Internal influences are influences that a business has some control over, such influences include product, location, management, resource management and business culture.
How does economic factors affect a business?
Economic factors affect the economy, including interest rates, tax rates, laws, policies, wages, and governmental activities. These factors are not directly related to the business but influence the investment value in the future.
What factors influence the environment of business?
Here are the nine types of external environment factors that affect businesses:
- Technological factors. …
- Economic factors. …
- Political and legal factors. …
- Demographic factors. …
- Social factors. …
- Competitive factors. …
- Global factors. …
- Ethical factors.
What is external environment in organization?
An external environment is composed of all the outside factors or influences that impact the operation of business. The business must act or react to keep up its flow of operations. The external environment can be broken down into two types: the micro environment and the macro environment.
Which of the following is part of an organization’s marketing environment?
It is made up of six components: demographic, economic, physical, technological, political-legal, and social-cultural environment.
What are economic influences examples?
Top 10 Economic Factors Affecting Business
- #1- Interest Rate. Interest rate is a major factor that affects the liquidity of cash in the economy. …
- #2 – Exchange Rate. …
- #3 -Tax Rate. …
- #4 – Inflation. …
- #5 – Labor. …
- #6 – Demand / Supply. …
- #7 – Wages. …
- #8 – Law and Policies.
What is the meaning economic?
Definition of economic 1a : of, relating to, or based on the production, distribution, and consumption of goods and services economic growth. b : of or relating to an economy a group of economic advisers. c : of or relating to economics economic theories.