Question

What are the various dimensions of business environment?

पर्याय

• Economic Environment

• Social Environment

• Technological Environment

• All of the above

Answer 1

All of the above

Explanation - 

The following are the dimensions of business environment.

1. Economic Environment: The dimensions of the business environment are as follows. Economic Situation: It includes economic variables such as interest rates, income, and stock market indices that influence how businesses operate. For example, an increase in income influences enterprise demand for goods and services.
2. Social Environment: The term "social environment" refers to the social forces such as customs, traditions, social values, social trends, and so on. Religious celebrations, for example, provide opportunities for many businesses such as those producing sweets, decorations, and so on.
3. Technological Environment : The technological environment includes technological advancements and changes. For example, the introduction of computers, the internet, new telecommunication facilities, and so on all have an impact on business enterprises. An advancement in the technology used in the manufacture of a product creates new business opportunities for enterprises while posing a threat to enterprises using obsolete technology.