Anders Is Researching Sociocultural Factors Related to His Employer, a Sporting

question 41

Multiple Choice

Anders is researching sociocultural factors related to his employer, a sporting goods manufacturer. Which of the following would be part of the sociocultural forces in a firm's external environment?

• A) the interest rates prevalent in an economy
• B) the laws protecting small enterprises in a nation
• C) the family size of the firm's target market
• D) the rate of employee attrition within the firm

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Definitions:

Discretion

Discretion involves the ability to make decisions or take actions based on one's own judgment, often in situations where the rules may not be clear or where sensitivity is required.

External Stakeholders

External stakeholders are individuals or groups outside of an organization who are affected by its actions and decisions, such as customers, suppliers, investors, and the community.

Growth Industry

A growth industry is a sector of the economy experiencing above-average growth compared to other sectors, often driven by technological innovations or consumer demand.

Managerial Discretion

The freedom and authority granted to managers to make decisions and take actions on behalf of the organization.