Advertisements
Advertisements
प्रश्न
How does understanding of business environment help in improving performance of a business?
उत्तर
An understanding of business environment help in improving performance of a business due to the following reasons:
a. It helps to identify the best opportunities and getting the first-mover advantage. It is better to analyze the market and grab the opportunity rather than losing it to the competitors. It can prove to positively contribute to the business.
b. A detailed analysis of the business environment helps in the identification of thread which may have a negative effect on the functioning of the Enterprise. They can become an early warning signal and help the Enterprise to formulate adequate steps to cope up with it.
c. The environment provides various resources that are helpful to the business for its running in the long term environment. In return, the environment is provided with output in the form of goods and services by the Enterprise. So the environment is considered to be both a source of demand and the source of resources. So the Enterprises must arrange for the best possible resources which can be done only after a detailed studying of the business environment.
d. The environment is constantly changing in terms of technology, government policies, taste and preference of the consumer, etc. The manager of the firm must analyze the business environment to cope up with the changes.
e. It also helps in formulating new plans and policies according to the current scenario. This, in turn, helps to improve the overall performance of the Enterprise
APPEARS IN
संबंधित प्रश्न
Why it is important for business enterprises to understand their environment? Explain.
Why is management considered as a science?
Select the correct option and rewrite the sentence.
Literacy level is an aspect of __________ environment.
Justify the following statement:
Social trends provide business opportunities.
Justify the following statement:
Adequate knowledge of rules and regulations is essential for better business performance.
Which of the following best indicates the importance of business environment?
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.
In the context of the above given case, identify one valid importance of Business Environment.
Which of the following best indicates the importance of the business environment?
Why it is important for business enterprises to understand their environment?
Which of the following points state that success of a business is significantly influenced by its environment?
Read the following text and answer the following questions 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.
In the context of the above given case, identify one valid importance of Business Environment.
Assertion (A): The business environment helps in understanding the threats which are likely to happen in the future.
Reason (R): Environmental awareness can help managers to identify various threats on time and serve as an early warning signal
Mr. Vivek is working as the General Manager of Oshin Hotels Ltd. Mr. Vivek observed that Government was taking a special interest in the Tourism industry as this sector is an important source of foreign exchange and employment promotion. On the basis of this news, the company decided to set up hotels at several tourist places. Oshin Hotels Ltd. established 50 hotels before other companies considered this issue. Very soon, this brand Oshin Hotels Ltd. became well known in the market. Identify the importance of business environment described here.
