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प्रश्न
Give an example to show that a business firm operates within numerous inter related factors constituting the business environment.(Hint: example highlighting the inter relatedness of dimensions of business environment).
उत्तर
• All the elements of the business environment including its various dimensions of economic, legal, political, technological and social are closely interrelated to each other. A change in one of these will lead to a corresponding change.
• For example, the Government of India has introduced a new policy which focuses on using eco-friendly products for safeguarding the environment. This is a part of the political dimension of the business environment. Now the different organizations would invest in Technologies to produce efficient eco-friendly goods. This is a part of the political dimension of the business environment.
• Another example is that people are now focusing on using organic food products for health concerns. This is a part of the social dimension of the business environment. However, it presupposes an economic dimension that the people now have more disposable income than before.
Thus we can say that all the business dimensions are interrelated to each other.
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संबंधित प्रश्न
With change in the consumption habits of people. Neelesh, who was running, a sweets shop shifted to chocolate business. On the eve of Diwali he offered chocolates in attractive packages at reasonable prices. He anticipated huge demand and created a website chocolove.com for taking orders online. He got lot of orders online and earned huge profit by selling chocolates.
Identify and explain the dimensions of business environment discussed in the above case.
‘Accent Electronics Ltd.’ was operating its business in Malaysia. The company started exporting its products to India when the Prime Minister announced relaxation in import duties on electronic items. The company appointed retailers in India who had direct on-line links with the suppliers to replenish stocks when needed.
Identify and explain the dimensions of business environment discussed in the above case.
How would you argue that the success of a business enterprise is significantly influenced by its environment?
Explain, with examples, the various dimensions of business environment.
The government of India announced Demonetization of 500 and 1,000 currency notes with effect from the midnight of November 8, 2016. As a result, the existing 500 and 1,000 currency notes ceased to be legal tender from that date. New currency notes of the denomination of 500 and 2,000 were issued by Reserve Bank of India after the announcement.
This step resulted in a substantial increase in the awareness about and use of Point of Sale achines, e-wallets, digital cash and other modes of cashless transactions. Also, increased transparency in monetary transactions and disclosure led to a rise in government revenue in the form of tax collection.
a. Enumerate the dimensions of business environment highlighted above.
b. State the features of Demonetization.
What is the social environment? Enumerate any three components of the social environment.
State two components of the legal environment of a business concern.
Answer the following question.
Mahinder Agro Ltd. started a new venture for the distribution of harmful and chemical fertilizers free vegetables. They conducted a survey to find out consumer preferences for such vegetables. They found that most of the consumers were concerned about the harmful chemicals being used in growing the vegetables. They found that 90% of the households were searching for its alternatives. The company contacted a group of agriculture experts to lay down the procedure for growing the vegetables by the farmers. They decided to train the farmers in new technology to grow chemical-free vegetables according to new innovative methods. The experts also suggested soil management techniques through which farmers would be able to create an abundant and lasting harvest.
Identify and explain the two dimensions of the business environment highlighted in the above para.
The trend of health and fitness has created a demand for products like gyms, bottled mineral water, and food supplements, etc., these are the example of ________.
Advertisement of alcoholic beverages is prohibited. This is an example of ________.
Booking of Railway tickets through the internet from home or office is an example of ________.
Which of the following is an example of social environment?
India has launched its most advanced Geo-imaging satellite which will allow better monitoring of the subcontinent, including its borders with neighbouring countries, by imaging the country 4-5 times a day. The satellite is capable of near real time monitoring of floods and cyclones. The factor constituting the Business Environment being discussed above is ______.
Mohammad Kanjiwal, a beekeeper since April 2021 is now part of the growing tribe of at least 50 urban dwellers across Maharashtra raising bees and harvesting honey in their balconies, rooftops and back gardens. As he had been focussed on eating right the thought of domesticating honey bees to promote healthy consumption habits and seeing honey being cultivated right before his eyes was mesmerising for him. Identify the factor constituting the general environment being discussed above.
Read the following text and answer the following question on the basis of the same:
The name and taste of Coca-Cola is known to almost each and every individual in India as well as throughout the world. This carbonated soft drink holds the most market share in the soft drink market and got itself a special seat in each and every gathering. The Coca-Cola Company has on occasion introduced other cola drinks under the Coke name. The most common of these are Diet Coke, along with others including Caffeine-free Coca-Cola, Diet Coke Caffeine-free, Coca-Cola Zero Sugar, Coca-Cola Cherry, Coca-Cola Vanilla and the list goes on. It has capitalized on each and every opportunity to market itself effectively and place itself in the middle of every gathering. The main reason for such an outstanding placement of product goes to the way they have established the connection between every occasion and the need for Coke to be present there, product design, and creative advertising.
Which business environment did Coca-Cola majorly tap into?
Identify the dimensions of the business environment illustrated by the picture given above in which Sapna who has joined the workforce recently is working on an accounting software.
Alo a mobility platform is in the process of laying off 400-500 employees in a move aimed at driving cost efficiency. Which objective of management will the firm not be able to achieve by carrying out this process.
With a revolution taking place in the manufacturing of mobile phones with super class cameras, the business of cameras in the consumer market has taken a hit. Studies show that mobile phone photography has devastated the camera industry.
The dimension of business environment highlighted in the above case is:
Criya Automobiles Ltd. plans to increase its production services in India, hence they want to analyse the economic environment of the business. Which one of the following factors should the company focus on?
