Question 1

A country faced severe recession that resulted in loss of jobs and low income levels,which in turn affected the lifestyles of the consumers.Which of the following conditions are influencing the environment of the country?

Accepted Answer

The recession and its resulting impact on jobs and income levels are a result of economic conditions. None of the other options directly address this scenario.

Question 2

The initial step of assessing in the innovation process involves commercializing innovation by turning it into actual products,services,or processes that increase profits by improving sales or lowering costs.

Accepted Answer

The initial step of assessing in the innovation process involves evaluating the feasibility and potential of the innovation. Commercializing the innovation comes later in the process after it has been developed and tested.

Question 3

Which of the following is a criterion of a good economic condition in the general environment?

Accepted Answer

A low unemployment rate indicates a strong demand for labor, and often correlates with other positive economic indicators such as high consumer spending and GDP growth. The other options either do not relate to economic conditions or have negative consequences.

Question 4

The government of Floraine imposes certain rules and regulations regarding the interest rates and other transactions for its financial institutions.This is an example of the _____ conditions of the general environment.

Accepted Answer

The government's rules and regulations regarding interest rates and other transactions reflect the legal-political conditions of the general environment.

Question 5

The concept of reverse innovation got its start as global firms moved away from viewing innovation as a "home market" activity that creates new products and services for distribution to "foreign markets."

Accepted Answer

The statement accurately describes the origin of the concept of reverse innovation.

Question 6

Adams Inc.,an automobile corporation based in London,shifts its manufacturing activities to China in order to minimize its cost of production.Which strategy has is Adams Inc.adopted here?

Accepted Answer

Adams Inc. has adopted the strategy of Offshoring as it has shifted its manufacturing activities to China in order to minimize its cost of production. Offshoring refers to the relocation of a business process from one country to another, typically where there are fewer regulations and lower labor costs.

Question 7

Product innovations result in better ways of doing things.

Accepted Answer

The answer of Product innovations result in better ways of...

Question 8

The executives of Dunes Inc.pay equal attention toward maximizing profits of the firm,maintaining the well-being of its employees,satisfying its customers,and preserving the environment.This indicates that Dunes Inc.uses the triple bottom line approach.

Accepted Answer

The triple bottom line approach considers the economic, social, and environmental impacts of a company's operations, and Dunes Inc. is paying attention to all three aspects.

Question 9

Which of the following would qualify as a reason for reshoring?

Accepted Answer

Reshoring would be justified if there are complicated logistics in the target country that makes it difficult to fulfill orders or manage supply chains effectively. Low costs, good customer service, low shipping costs, and low labor costs are all benefits of offshoring, and would not be reasons to reshore.

Question 10

The patent attorney of Rayon Inc.was accused of stealing the organization's invention.This scenario is an example of the _____ conditions of the general environment.

Accepted Answer

The accusation of theft by the patent attorney is a legal-political issue, which falls under the general environment conditions.

Question 11

An organization that does not provide health insurance to employees can be categorized as one with poor human sustainability.

Accepted Answer

Providing health insurance is an important aspect of promoting the well-being of employees, which is one of the pillars of human sustainability. Failing to provide health insurance can have negative consequences on employee health and productivity, leading to poor human sustainability.

Question 12

Which of the following represents the economic conditions in the general environment?

Accepted Answer

The unemployment rate is a measure of the economic conditions in the general environment, as it reflects the level of job opportunities and overall economic growth. The other options are important aspects of the general environment, but they do not represent economic conditions specifically. Patents and norms fall under the legal and socio-cultural segments, respectively, while infrastructure and internet access fall under the technological segment.

Question 13

Business model innovations result in new ways of making money for the firm.

Accepted Answer

Business model innovations focus on creating new revenue streams and finding new ways of generating profit for the firm. Therefore, it is true that business model innovations result in new ways of making money for the firm.

Question 14

Which of the following involves outsourcing of jobs to foreign locations?

Accepted Answer

Offshoring involves outsourcing jobs to foreign locations. Reshoring is the opposite of offshoring, where a company brings back jobs that were previously outsourced to a foreign location. Repatriation is the act of returning an asset or capital back to its country of origin. Nationalization is when the government takes control of private assets or businesses. Backshoring is also the opposite of offshoring, where a company brings back outsourced production to its home country or nearby location.

Question 15

Pfeffer's concern on human sustainability focusses on the importance of employees as they are organizational stakeholders.

Accepted Answer

Pfeffer emphasizes the significance of employees in ensuring the sustainability of an organization.

Question 16

Which of the following examples illustrates the legal-political conditions in the general environment?

Accepted Answer

Bureaucratic decisions made in a nation refer to the legal-political conditions in the general environment. It includes laws, regulations, and policies implemented by the government or other regulatory bodies that can impact the operations of businesses. The other options are not directly related to the legal-political conditions in the general environment.

Question 17

Innovation is a low priority when executives and leaders try to steer organizations through complex and uncertain environments.

Accepted Answer

This statement is false. Innovation is often seen as a high priority in complex and uncertain environments, as it can provide new solutions and opportunities for growth. However, it may be difficult to prioritize and invest in innovation amidst other pressing concerns and priorities.

Question 18

Techni Asset,a software corporation based in the United States,used to operate from several countries with lower labor costs.When the firm started to incur high costs of production in the foreign countries and received complaints and criticisms about the loss of local jobs,the firm decided to return to its home country.This change made to the firm's global strategy is an example of _____.

Accepted Answer

The scenario describes the process of a company bringing its operations back to its home country, which is known as reshoring. This move is often a response to higher production costs in foreign countries and concerns about the loss of local jobs. Therefore, the correct answer is E, reshoring.

Question 19

Environmental capital is the supply of natural resources that we use to sustain life and produce goods and services for society.

Accepted Answer

Environmental capital refers to the natural resources that we rely on for economic and social development, including air, water, land, forests, minerals, and biodiversity. These resources are essential to human well-being and are often referred to as "ecosystem services."

Question 20

_____ environment consists of economic,legal-political,sociocultural,technological,and natural environment conditions.

Accepted Answer

The five components listed (economic, legal-political, sociocultural, technological, and natural environment conditions) are all aspects of the general environment, which refers to the overall context in which an organization operates. Task environment, on the other hand, refers to the specific groups and individuals that an organization interacts with on a regular basis to achieve its goals. Stakeholders and customers are specific groups within the task environment. Therefore, the best choice is C, general environment.

Quiz 4: Environment, innovation, and Sustainability