Topic: The external environment

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BMIS – Nov 2019 – L1 – Q4b – Economic Factors in the Macro-Environment

State and explain five economic factors that influence opportunities or threats for organizations in the macro-environment.

Question

4. (b) The macro-environment contains several conditions and factors that systematically present opportunities or pose threats to organizations in their effort to gain competitive advantage. The factors in the macro-environment for the purpose of effective analysis are grouped using the PEST model, which represents political, economic, socio-cultural, and technological factors. Understanding these factors will influence the kind of strategies business organizations would formulate.

Required:
State and explain FIVE (5) economic factors which determine the nature of opportunities or threats that organizations may face.

Answer

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Tags: Business Strategy, Competitive Advantage, Economic Factors, Macro-Environment, PEST Analysis
Level: Level 1

Topic: Competitive forces and markets, Introduction to Business Strategy, The external environment
Series: NOV 2019

BMIS – Nov 2021 – L1 – Q3a – The external environment

Explain the elements of the external environment that impact business organizations.

Question

An organisation is described as an open system because it impacts and is also impacted by two sets of environments. It imports raw materials from the environment, transforms them into goods and services and then exports them back into the environment for the satisfaction of customers’ needs.

Required:
Explain FIVE (5) elements of the external environment of a business organisation. (15 marks)

Answer

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Tags: Business Strategy, External Environment, PEST Analysis
Level: Level 1

Topic: The external environment
Series: NOV 2021

BMIS – Nov 2016 – L1 – Q5a – The external environment

Outline factors in an organization's external environment that are beyond its control.

Question

An organization’s external environment is made up of those factors over which the organization has no degree of control.

Outline SIX of these factors. (6 marks)

Answer

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Tags: Business Environment, Ecological, Economic, External Environment, Legal, Political, Socio-Cultural, Technological
Level: Level 1

Topic: The external environment
Series: NOV 2016

BMIS – Nov 2023 – L1 – Q5b – The external environment

Describe how each element of the PEST Analysis (Political, Economic, Socio-cultural, Technological) influences an organization's operations.

Question

The PEST Analysis is a strategic tool used for generating information about how the business environment operates and influences the operations of an organisation.

Required:

Describe how each element in the analysis influences an organisation’s operations.

Answer

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Tags: Business Environment, External factors, Organizational operations, PEST Analysis, Strategic Management
Level: Level 1

Topic: The external environment
Series: NOV 2023

BMIS – Nov 2023 – L1 – Q2b – The external environment

Describe two of the three approaches (expenditure, income, value-added) used by economists to measure a country's Gross Domestic Product (GDP).

Question

In measuring a country’s Gross Domestic Product (GDP), economists use the expenditure approach, income approach and the value-added approach.

Required: Describe TWO (2) of these approaches. (5 marks)

Answer

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Tags: Economic measurement, Expenditure approach, GDP, Income approach, Value-added approach
Level: Level 1

Topic: The external environment
Series: NOV 2023

BMIS – Nov 2023 – L1 – Q2a – The external environment

Explain five ways the Government of Ghana can improve the business environment to help private enterprises thrive.

Question

It can be argued that the public sector must not directly engage in business but rather direct efforts and resources at securing an enabling environment in which the private sector which has been described as the engine of growth of the economy can flourish.

Required: Explain FIVE (5) ways by which the Government of Ghana can improve the business environment in order that private enterprises can thrive. (10 marks)

Answer

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Tags: Business Environment, Economic growth, Government Policy, Private Sector
Level: Level 1

Topic: The external environment
Series: NOV 2023

BMIS – Jul 2023 – L1 – Q2a & Q2b – The external environment, Finance | R&D and marketing strategies

Elaborates on demand-side and supply-side market failures and outlines the benefits of positioning in an organization.

Question

a) During the period between September and December 2022, there was a situation of constant price level changes in Ghana. Observers and experts of Economics attributed the situation to market failures which can be demand-side market failure or supply-side market failure.

Required:
Elaborate on the two types of failures stated above.
(5 marks)

b) Positioning is an activity business organisations use to create a mental image of their products in the minds of their target markets.

Required:
Outline FIVE (5) benefits associated with positioning in an organisation.
(5 marks)

Answer

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Tags: Demand-Side Failure, Market Failure, Marketing Strategy, Positioning, Supply-Side Failure
Level: Level 1

Topic: Finance, R&D and marketing strategies, The external environment
Series: JULY 2023

BMIS – Nov 2017 – L1 – Q1b – The external environment

Distinguish between the internal and external environment of a business organization.

Question

b) In an organization, every action of management body is influenced by the environment. In this context, “environment” means understanding the surroundings or conditions in which a particular activity is carried out.

Required:
Distinguish between internal and external environment of a business organization.
(5 marks)

Answer

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Tags: Business Environment, External Environment, Internal Environment, Organizational Environment, Strategic Management
Level: Level 1

Topic: The external environment
Series: NOV 2017

BMIS – Mar 2023 – L1 – Q5b – The external environment

Conducts a PEST analysis for Prekoka Beverages Ltd based on provided business challenges and opportunities.

Question

Prekoka Beverages Ltd (PBL) was established in 2022. The company manufactures alcoholic and non-alcoholic beverages. The company uses a modern automation system and a lean manufacturing system to ensure operational efficiency. The company is very optimistic about the future due to the increase in disposable income of the people in the country.

The management of the company is, however, concerned about the government’s proposal to increase regulations in the manufacturing of alcoholic beverages because of a research publication that alcoholic beverage consumption is causing health problems for consumers in the country.

The company also faces a challenge predicting its future revenue because the section of the population with purchasing power is conscious of their consumption patterns and, as a result, are reluctant to purchase sugar-based beverages. Additionally, the recent population census in Ghana indicated that the female population (which normally doesn’t consume alcoholic beverages) surpasses the male population.

Even though the management of PBL is confronted with the above challenges, they are optimistic about the future because there is strong economic and political stability that facilitates business growth in the country. PBL also has an efficient research and development team that can develop new products to meet the changing needs and tastes of consumers.

Required:
Prepare a PEST framework for PBL based on the above information.

Answer

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Tags: Business Environment, PEST Analysis, Strategic Planning
Level: Level 1

Topic: The external environment
Series: MAR 2023

BMIS – May 2017 – L1 – Q7a – The external environment

Explain the concept of globalization, its key features, and the factors encouraging its spread in world trade.

Question

The concept of globalization has become a major discussion theme in both professional and business environments. A number of factors have been identified as encouraging globalization of world trade.

Required:

i) Explain globalization. (2 marks)

ii) Identify any FOUR features of globalization. (4 marks)

iii) Explain any FOUR factors encouraging the globalization of world trade. (6 marks)

(Total: 12 marks)

Answer

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Tags: Capacity Management, Factors Encouraging Globalization, Features of Globalization, Globalization, Service vs. Manufacturing
Level: Level 1

Topic: The external environment
Series: MAY 2017

BMIS – Nov 2019 – L1 – Q4b – Economic Factors in the Macro-Environment

State and explain five economic factors that influence opportunities or threats for organizations in the macro-environment.

Question

Required:
State and explain FIVE (5) economic factors which determine the nature of opportunities or threats that organizations may face.

Answer

Find Related Questions by Tags, levels, etc.

Tags: Business Strategy, Competitive Advantage, Economic Factors, Macro-Environment, PEST Analysis
Level: Level 1

Topic: Competitive forces and markets, Introduction to Business Strategy, The external environment
Series: NOV 2019

BMIS – Nov 2021 – L1 – Q3a – The external environment

Explain the elements of the external environment that impact business organizations.

Question

Required:
Explain FIVE (5) elements of the external environment of a business organisation. (15 marks)

Answer

Find Related Questions by Tags, levels, etc.

Tags: Business Strategy, External Environment, PEST Analysis
Level: Level 1

Topic: The external environment
Series: NOV 2021

BMIS – Nov 2016 – L1 – Q5a – The external environment

Outline factors in an organization's external environment that are beyond its control.

Question

An organization’s external environment is made up of those factors over which the organization has no degree of control.

Outline SIX of these factors. (6 marks)

Answer

Find Related Questions by Tags, levels, etc.

Tags: Business Environment, Ecological, Economic, External Environment, Legal, Political, Socio-Cultural, Technological
Level: Level 1

Topic: The external environment
Series: NOV 2016

BMIS – Nov 2023 – L1 – Q5b – The external environment

Describe how each element of the PEST Analysis (Political, Economic, Socio-cultural, Technological) influences an organization's operations.

Question

The PEST Analysis is a strategic tool used for generating information about how the business environment operates and influences the operations of an organisation.

Required:

Describe how each element in the analysis influences an organisation’s operations.

Answer

Find Related Questions by Tags, levels, etc.

Tags: Business Environment, External factors, Organizational operations, PEST Analysis, Strategic Management
Level: Level 1

Topic: The external environment
Series: NOV 2023

BMIS – Nov 2023 – L1 – Q2b – The external environment

Describe two of the three approaches (expenditure, income, value-added) used by economists to measure a country's Gross Domestic Product (GDP).

Question

In measuring a country’s Gross Domestic Product (GDP), economists use the expenditure approach, income approach and the value-added approach.

Required: Describe TWO (2) of these approaches. (5 marks)

Answer

Find Related Questions by Tags, levels, etc.

Tags: Economic measurement, Expenditure approach, GDP, Income approach, Value-added approach
Level: Level 1

Topic: The external environment
Series: NOV 2023

BMIS – Nov 2023 – L1 – Q2a – The external environment

Explain five ways the Government of Ghana can improve the business environment to help private enterprises thrive.

Question

Required: Explain FIVE (5) ways by which the Government of Ghana can improve the business environment in order that private enterprises can thrive. (10 marks)

Answer

Find Related Questions by Tags, levels, etc.

Tags: Business Environment, Economic growth, Government Policy, Private Sector
Level: Level 1

Topic: The external environment
Series: NOV 2023

BMIS – Jul 2023 – L1 – Q2a & Q2b – The external environment, Finance | R&D and marketing strategies

Elaborates on demand-side and supply-side market failures and outlines the benefits of positioning in an organization.

Question

Required:
Elaborate on the two types of failures stated above.
(5 marks)

b) Positioning is an activity business organisations use to create a mental image of their products in the minds of their target markets.

Required:
Outline FIVE (5) benefits associated with positioning in an organisation.
(5 marks)

Answer

Find Related Questions by Tags, levels, etc.

Tags: Demand-Side Failure, Market Failure, Marketing Strategy, Positioning, Supply-Side Failure
Level: Level 1

Topic: Finance, R&D and marketing strategies, The external environment
Series: JULY 2023

BMIS – Nov 2017 – L1 – Q1b – The external environment

Distinguish between the internal and external environment of a business organization.

Question

Required:
Distinguish between internal and external environment of a business organization.
(5 marks)

Answer

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Tags: Business Environment, External Environment, Internal Environment, Organizational Environment, Strategic Management
Level: Level 1

Topic: The external environment
Series: NOV 2017

BMIS – Mar 2023 – L1 – Q5b – The external environment

Conducts a PEST analysis for Prekoka Beverages Ltd based on provided business challenges and opportunities.

Question

Required:
Prepare a PEST framework for PBL based on the above information.

Answer

Find Related Questions by Tags, levels, etc.

Tags: Business Environment, PEST Analysis, Strategic Planning
Level: Level 1

Topic: The external environment
Series: MAR 2023

BMIS – May 2017 – L1 – Q7a – The external environment

Explain the concept of globalization, its key features, and the factors encouraging its spread in world trade.

Question

The concept of globalization has become a major discussion theme in both professional and business environments. A number of factors have been identified as encouraging globalization of world trade.

Required:

i) Explain globalization. (2 marks)

ii) Identify any FOUR features of globalization. (4 marks)

iii) Explain any FOUR factors encouraging the globalization of world trade. (6 marks)

(Total: 12 marks)

Answer

Find Related Questions by Tags, levels, etc.

Tags: Capacity Management, Factors Encouraging Globalization, Features of Globalization, Globalization, Service vs. Manufacturing
Level: Level 1