1.2 - Components of the Business Environment
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Practice Questions
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What are internal environment factors?
💡 Hint: Think about what a company can control internally.
Name one factor from the external environment.
💡 Hint: Consider factors outside the company.
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Interactive Quizzes
Quick quizzes to reinforce your learning
Which of the following is NOT part of the internal environment?
💡 Hint: Remember the differences between internal and external factors.
True or False: The macro environment consists of controllable factors.
💡 Hint: Consider what 'macro' implies.
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Challenge Problems
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Discuss how a sudden technological advancement in e-commerce can alter the micro environment for traditional retailers. Provide suggestions for how these retailers might adapt.
💡 Hint: Consider both direct and indirect impacts of technology on consumer behavior and retail operations.
Evaluate the potential consequences for a business operating in a politically unstable region. Identify at least two strategies the business could employ to mitigate risks.
💡 Hint: Think critically about how external political conditions affect a company’s strategic decisions.
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