1) This is a multiple answer type of question. So, please select all the options from the bellow listed ones that are correct. As the environmental uncertainty increases, the following things become very important for a firm: Increased collaboration, faster exchange of information & knowledge to respond quickly to environmental changes is crucial Organizations do not need any extra efforts to bring in more information about the environment Continuous and ongoing scanning and evaluation of the environment becomes vital More information about the environment and resources are needed
1) This is a multiple answer type of question. So, please select all the options from the bellow listed ones that are correct.
As the environmental uncertainty increases, the following things become very important for a firm:
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Increased collaboration, faster exchange of information & knowledge to respond quickly to environmental changes is crucial |
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Organizations do not need any extra efforts to bring in more information about the environment |
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Continuous and ongoing scanning and evaluation of the environment becomes vital |
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More information about the environment and resources are needed |
2) Employees in a boundary-spanning role (called "Boundary Spanners") provide the firm with information about what is going on in the external environment by linking the firm to the environment
True
False
3) An unstable environment is one in which the number of external elements of the environment that lie in the firm's domain is very large. That means many environmental elements (e.g., customers, vendors, suppliers, investors, unions, policies etc.) can affect the firm but they may not necessarily change frequently. (Hint: The content on Stable-Unstable dimension of external environment may be relevant here)
True
False
4) An organization’s domain is that part of the external environment in which the organization chooses to act and which is thus relevant to its products,
True
False
5) A mechanistic structure is highly suitable for an organization operating in an environment with very high levels of uncertainty
True
False
6) In scenario-based planning, managers focus on various scenarios that present alternative pictures of what the future may look like and how the firm would like to respond to each scenario
True
False
7) An organization's external environment is defined as everything that exists outside the boundary of the organization and has the potential to affect all or part of the organization.
True
False
8) Match the correct pairs
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9) Choose the option that will become more important as the firm's external environment becomes more and more uncertain:
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Scenario based planning |
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Mechanistic structure |
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Chain grouping |
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Micro-management |
10) Lack of sufficient information about environmental factors that can affect the organization can result in in 'Environmental Uncertainty.' Such environmental uncertainty makes it challenging to take startegic decisions because in such cases it is very difficult to predict how the external environment will change in the future.
True
False
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