Question 1

Change is defined as a noun

Accepted Answer

False

Question 2

Change can be incremental, or radical or a combination of both

Accepted Answer

Change can happen gradually over time (incremental) or suddenly all at once (radical), and it is possible for change to involve both approaches.

Question 3

There are four general forces affecting business activity

Accepted Answer

There are generally considered to be six external forces that affect business activity: economic, demographic, technological, political/legal, competitive, and social/cultural.

Question 4

Buyers' markets a significantly different to sellers' markets

Accepted Answer

In a buyers' market, there are more properties for sale than there are buyers, which gives buyers more negotiating power and tends to drive prices down. In a sellers' market, there are more buyers than there are properties for sale, giving sellers more negotiating power and tending to drive prices up. This creates a significantly different market dynamic for buyers and sellers.

Question 5

The Nomura Institute identifies three key forces that affect businesses. .

Accepted Answer

The answer of The Nomura Institute identifies three key forces...

Question 6

Creativity is just another popular myth

Accepted Answer

Creativity is a real and valuable human ability that involves generating new ideas, solving problems in innovative ways, and expressing thoughts or feelings in unique forms. It is recognized and studied in various fields such as psychology, neuroscience, and education.

Question 7

Incremental and transitional change are the main types of change in the real world

Accepted Answer

Incremental and transitional change are types of change, but transformational change is also a major type of change in the real world, making the statement incomplete.

Question 8

The Capital Conference in 2008 identified four key approaches to dealing with contextual change

Accepted Answer

The Capital Conference is not a recognized event that identified approaches to dealing with contextual change. Discussions on managing contextual change typically occur across various platforms and disciplines, but no specific event called the "Capital Conference" in 2008 is known for this purpose.

Question 9

Successful business management is always first and foremost about cost reduction

Accepted Answer

While cost reduction is an important aspect of business management, it is not the only factor that contributes to success. Effective management also involves enhancing productivity, improving quality, and generating revenue through strategic planning and effective marketing.

Question 10

Business fortunes are governed by business cycles so all that is necessary in a downswing is to consolidate and wait for the upswing

Accepted Answer

While business cycles do exist and can impact a company's fortunes, it is not always as simple as waiting for an upswing. Companies must also adapt to changing market conditions, innovate, and make strategic decisions in order to succeed during a downturn.

Question 11

The concept of customer-perceived value is a consequence of the paradigm change from sellers' to buyers' markets

Accepted Answer

The answer of The concept of customer-perceived value is a...

Question 12

There are four environmental conditions that regulate business growth

Accepted Answer

The answer of There are four environmental conditions that regulate...

Deck 1: The Changing Business Environment