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Which Of The Following Is A Demographic Factor Of An Organization's Macroenvironment

The correct option of this multiple choice question (mcq) is A, as in Demographic factor (which is uncontrollable) of organization’s macroenvironmental, people working in organization are divided into groups based on demographic characteristics such as age, gender, education, income, race / ethnicity, region, occupation, Religion, etc. 1. Ages of Workforce If most of the employees are young and energetic i.e., their ages ranges from 15 to 40, then they ca n perform well than the old one because of age factor, the old employees’ health problems arise which is very natural. So, the more the population in country’s economy, the more the younger workforce will be available to do many tasks for the organization. For examples, if most of the labor force consists of young and healthy people in an organization, the more work will be done efficiently and as a result, the more productivity will be. Mere technological equipment is not enough as to run these equipment, young and energetic workforc...
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True Or False: The Competitive Environment Includes Only Those Organizations That Are Direct Rivals.

True And False Question Answer | What Is Competitor Environment (CE) And Its Components? This statement is “False” as Competitive Environment includes not only a company’s close and direct competitors who are rivalries against each other but also includes the impacts of new entrants (entry of new firms), substitutes and complementary products, suppliers and customers. These factors affect the company strategic decisions in a Competitive Environment. 1. Competitors A company, within the industry, has to compete with its direct competitors to survive and, ultimately, to gain competitive advantage in the market and attract more similar customers who may also purchase products of its close competitors. A company can attracts and satisfy more customers by reduces the prices without losing quality, creating new unique products, differentiation in products i.e., adding new features, packaging, designing, etc. 2. New Entrants A new firm also creates an impact of competition for alread...
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Societal Trends Regarding How People Think And Behave Have Major Implications For ______. (Check All That Apply.)

Answer of MCQ | What Are Social Issues In Organization The correct options of this multiple choice question are A, C and D, as social issues such as inequality, discrimination, education background and job status, employee benefits, ignorance, exploitation, lack of employment and training for new and fresh candidate, etc., affect organizational corporate social actions, strategic decisions about products & services and management of labor force in an organization. Social issues arise because of social injustice in the organization. A management should address these social issues to solve problems and remain competitive in the External Environment. 1. Inequality All the employees working in the organization should be given equal rights and opportunities to get the right position in the organization. For example, suitable and eligible candidates and employees from south region are not given rights to apply for the jobs or to get compensations while others have rights to get the...
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Which Statement About The External Environment Is True?

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Answer of MCQ | What is External Environment The correct option of this multiple choice question (mcq) is A, as in External Environment, we consider all the uncontrollable external environmental factors which affect the company’s business operations, activities and its performance. These factors include economic conditions, technological changes, government laws, suppliers, competitors, customers and Natural Environment . These are the stakeholders of the company who have vested interests in the organization. These can affect and influence the economic decisions of the organization and the management of the organization also takes decisions by considering the effects of these strategic decisions on his organization and its stakeholders. 1. Economic Conditions If there is boom period of economy, then there are lots of opportunities for the organization to grow and such period of economy has positive impacts on the economic decisions of the organization. The inflation rate is dec...
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Organizations Rely Heavily On The ______ Environment To Provide The Raw Materials Needed To Produce Products.

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Answer of MCQ | What is Natural Environment? The correct option of this multiple choice question (mcq) is B as Natural Environment includes both living and non-living things such as land air, water, oil, sunlight, soul, animals, plants, heat, etc., which are created by Allah (God) for the benefits of human beings. These are the natural resources (natural blessings) which directly and deeply affect all kinds of organization. Without natural resources, no organization can survive and functional. A company needs natural resources to use them to make / produce products or outputs. For example, a manufacturing company uses raw material (wood) to convert it into useful thing (furniture e.g., chair, table, bed, etc.) Importance of Natural Environment 1. Sources of Production A manufacturing company need natural resources to produce goods to be sold to customers to gain profits and run the business successfully. If there is flood, then, it affects the supply of raw material and products which ...
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Which Of The Following Is A Controllable Environmental Factor That Can Affect An Organization?

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Answer of MCQ | What Is Cost Leadership Strategy The correct option of this multiple choice question (mcq) is E, as in Cost Leadership Strategy , the Management of the company uses the cost control system to lower the cost of production and operations to cut cost and control it in order to offer lower prices of products or services to customers to gain competitive advantage / edge over its competitors. The management can adopt this strategy internally and control it with cost control system, so this is a controllable environmental factor which can significantly affect the organization. For example, if the manufacturing company wants to increase the sales of cars and gain competitive advantage over its competitors in the market, then it should lower the prices of cars by cutting costs of its production i.e., by utilizing the efficient use of resources without losing the quality of car. How To Reduce Cost: 1. Efficient Use of Resources A company can minimize the cost of production and p...
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Company A Has Proposed Investing A Significant Amount In Upgrading Technologies Throughout The Company. Select The Reasons Why This Is Vital For The Company's Survival. (Check All That Apply)

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Before answering this multiple choice question, firstly, let’s know about the term " Technology ". What is Technology? It is simply the use of knowledge, skills, abilities and equipment to produce quality products or service or to enhance the working performance and easily and quickly complete the job tasks with accuracy. For example, use of machinery to make wheat makes the work easier and faster, the use of computer to do office work makes easier and accurate as compare to manual work. Advantages of Technology 1. N ew Competitive Niches In The Markets So, the correct options of this multiple choice question are A, B and C, as due to the vast usage and advancement of technology, there is a need to adopt new and updated technology to compete in the market. It also creates new challenges due to the creation of new product, service, idea, knowledge, market niches, etc. For example, developing a new mobile device creates a new niche in the market where every competitor try to co...
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