BQA FINAL EXAM COMPREHENSIVE TEST
PAPER QUESTIONS WITH VERIFIED
SOLUTIONS RESOURCE
●● Environmental Change
Answer: The rate at which a company's general and specific
environments change
●● Stable Environment
Answer: An environment in which the rate of change is slow
●● Dynamic Environment
Answer: An environment in which the rate of change is slow
●● Punctuated Equilibrium Theory
Answer: The theory that companies go through long periods of stability,
followed by short periods of dynamic, fundamental change, and
finishing with a return to stability
●● Environmental Complexity
Answer: The number and the intensity of external factors in the
environment that affects organizations
,●● Simple Environment
Answer: An environment with few environmental factors
●● Complex Environment
Answer: An environment with many environmental factors
●● Resource scarcity
Answer: The abundance or shortage of critical organizational resources
in an organization's external environment
●● Uncertainty
Answer: Extent to which managers can understand or predict which
environmental changes and trends will affect their businesses
●● General Environment
Answer: The economic, technological, sociocultural, and political trends
that indirectly affect all organizations
●● Specific Environment
Answer: The customers, competitors, suppliers, industry regulations, and
advocacy groups that are unique to an industry and directly affect how a
company does business
,●● Business Confidence Indices
Answer: Indices that show managers' level of confidence about future
business growth
●● Technology
Answer: The knowledge, tools, and techniques used to transform input
into output
●● Competitors
Answer: Companies in the same industry that sell similar products or
services to customers
●● Competitive Analysis
Answer: A process for monitoring the competition that involves
identifying competition, anticipating their moves, and determining their
strengths and weaknesses
●● Suppliers
Answer: Companies that provide material, human, financial, and
informational resources to other companies
●● Supplier Dependence
, Answer: The degree to which a company relies on a supplier because of
the importance of the supplier;s product to the company and the
difficulty of finding other sources of that product
●● Buyer Dependence
Answer: The degree to which a supplier relies on a buyer because of the
importance of that buyer to the supplier and the difficulty of finding
other buyers for it's products
●● Opportunistic Behavior
Answer: A transaction in which one party in the relationship benefits at
the expense of the other
●● Relationship Behavior
Answer: The establishment of mutually beneficial, long-term exchanges
between buyers and suppliers
●● Industry Regulation
Answer: Regulations and rules that govern the business practices and
procedures of specific industries, businesses, and professions
●● Advocacy Groups
Answer: Concerned citizens who band together to try to influence the
business practices of specific industries, businesses and professions
PAPER QUESTIONS WITH VERIFIED
SOLUTIONS RESOURCE
●● Environmental Change
Answer: The rate at which a company's general and specific
environments change
●● Stable Environment
Answer: An environment in which the rate of change is slow
●● Dynamic Environment
Answer: An environment in which the rate of change is slow
●● Punctuated Equilibrium Theory
Answer: The theory that companies go through long periods of stability,
followed by short periods of dynamic, fundamental change, and
finishing with a return to stability
●● Environmental Complexity
Answer: The number and the intensity of external factors in the
environment that affects organizations
,●● Simple Environment
Answer: An environment with few environmental factors
●● Complex Environment
Answer: An environment with many environmental factors
●● Resource scarcity
Answer: The abundance or shortage of critical organizational resources
in an organization's external environment
●● Uncertainty
Answer: Extent to which managers can understand or predict which
environmental changes and trends will affect their businesses
●● General Environment
Answer: The economic, technological, sociocultural, and political trends
that indirectly affect all organizations
●● Specific Environment
Answer: The customers, competitors, suppliers, industry regulations, and
advocacy groups that are unique to an industry and directly affect how a
company does business
,●● Business Confidence Indices
Answer: Indices that show managers' level of confidence about future
business growth
●● Technology
Answer: The knowledge, tools, and techniques used to transform input
into output
●● Competitors
Answer: Companies in the same industry that sell similar products or
services to customers
●● Competitive Analysis
Answer: A process for monitoring the competition that involves
identifying competition, anticipating their moves, and determining their
strengths and weaknesses
●● Suppliers
Answer: Companies that provide material, human, financial, and
informational resources to other companies
●● Supplier Dependence
, Answer: The degree to which a company relies on a supplier because of
the importance of the supplier;s product to the company and the
difficulty of finding other sources of that product
●● Buyer Dependence
Answer: The degree to which a supplier relies on a buyer because of the
importance of that buyer to the supplier and the difficulty of finding
other buyers for it's products
●● Opportunistic Behavior
Answer: A transaction in which one party in the relationship benefits at
the expense of the other
●● Relationship Behavior
Answer: The establishment of mutually beneficial, long-term exchanges
between buyers and suppliers
●● Industry Regulation
Answer: Regulations and rules that govern the business practices and
procedures of specific industries, businesses, and professions
●● Advocacy Groups
Answer: Concerned citizens who band together to try to influence the
business practices of specific industries, businesses and professions
