What is the primary purpose of a business environment analysis?
Practice Questions
1 question
Q1
What is the primary purpose of a business environment analysis?
To increase employee satisfaction
To identify external factors affecting the business
To improve product quality
To enhance customer service
A business environment analysis helps identify external factors such as economic, social, and political influences that can impact the organization.
Questions & Step-by-step Solutions
1 item
Q
Q: What is the primary purpose of a business environment analysis?
Solution: A business environment analysis helps identify external factors such as economic, social, and political influences that can impact the organization.
Steps: 4
Step 1: Understand that a business environment analysis looks at the outside world where a business operates.
Step 2: Recognize that this analysis focuses on external factors that can affect the business.
Step 3: Identify the types of external factors, such as economic conditions (like inflation or unemployment), social trends (like changing consumer preferences), and political influences (like new laws or regulations).
Step 4: Realize that by understanding these factors, a business can make better decisions and plan for the future.
