Scenario A: Use this scenario to answer the four questions that follow. Cathy’s

Question

Scenario A: Use this scenario to answer the four questions that follow.

Cathy’s Jewelry Inc. is a store that specializes in antique jewelry. In analyzing the environment, Cathy has uncovered several interesting findings: (1) Cathy has recently purchased more inventory than in the past. Her customers are selling most of their jewelry because their children are not interested in this type of jewelry. Also, these customers would prefer to liquidate their jewelry to help them with their daily expenses since they no longer wear most of it. (2) Cathy has recently discovered that her business is in a historical preservation district, so as she considers remodeling the shop, she has found she must pay attention to the guidelines set forth in the governing laws. (3) Cathy’s buyer–customer base seems to be changing. The tastes of the younger generation near her shop are shifting to modern jewelry, so the customer base to which she sells is shrinking. (4) Cathy has been suggested to investigate selling her inventory via the Internet, but she does not own (or understand how to use) a computer. (5) In reading a survey of regional business, Cathy has discovered that there are no other antique jewelry stores within a 200 mile radius.

Which of the following elements of the macroenvironment was part of Cathy’s findings (in Scenario A)?

Question 21 options:

sustainability

psychology

philosophy

sociology

technology

sustainability

psychology

philosophy

sociology

technology

Explanation / Answer

The elements of the macro environment which are the part of Cathy’s findings are:

The reason for this is as follows:

The changing business environment is a part of business and for the very sustainability of the business one must understand and act according to the changes of micro and macro environment.

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