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प्रश्न
A recent rate cut in the interest on loans announced by the Banks encouraged Amit, a science student of Progressive School to take a loan from State Bank of India to experiment and develop cars to be powered by fuel produced from garbage. He developed such a car and exhibited it in the Science Fair organised by Directorate of Education. He was awarded first prize for his invention.
Identify and explain the dimensions of business environment discussed in the above case.
उत्तर
Dimensions of business environment being referred to in the given case:
1. Economic environment:- A fall in loan interest rate implies a variation in the economic environment of the country.
Explanation:- Economic environment includes the effect of changes in the interest rates, levels of income and stock market fluctuations. Example: An increase in imports leads to a fall in the price of domestic currency and vice versa.
2. Technological environment:- Development of a car which is powered by fuel produced from garbage implies a change in technological environment of the economy
Explanation:- Technological environment takes into account various changes in technology of an economy. It involves infrastructural changes or changes related to the information technology revolution. For example, smartphones and e-commerce are the foundations of most business start-ups in the modern era. Competing with different market players would require a company to launch an app and a website.
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संबंधित प्रश्न
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Identify and explain the dimensions of business environment discussed in the above case.
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).
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The dimension of business environment highlighted in the above case is:
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'Digilocker' is a flagship initiative of ‘Ministry of Electronics and IT’, Government of India. It aims at digital empowerment of the citizens by providing access to authentic digital documents such as academic certificates issued by different Examination Boards, Driving Licenses, Vehicle registrations, etc. in a digital format. |
The above para discusses a few dimensions of Business Environment.
Identify the correct dimensions from the following:
‘Pace.’ is a reputed Chartered Accountant firm which renders services to big MNC’s. The Chartered Accountants of the firm are required to travel to Delhi and NCR for which they use company’s cars. The firm decided to convert its Petrol cars to Electric cars in order to improve the quality of life of people. Identify the dimensions of business environment.
Explain any two components of the Technological Environment.
State any three components of Social environment.
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