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Question
Correct the underlined word and rewrite the following sentence.
Natural resources are related to political environment.
Solution
Natural resources are related to natural environment.
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RELATED QUESTIONS
How does understanding of business environment help in improving performance of a business?
Why is management considered as a science?
Select the correct option and rewrite the sentence.
Literacy level is an aspect of __________ environment.
Distinguish between the following.
Political Environment and Legal Environment.
Justify the following statement:
Adequate knowledge of rules and regulations is essential for better business performance.
Attempt the following:
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.
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?
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
Airlines will be able to offer the benefit of lower pricing to customers on sectors/routes due to the decision of the civil aviation ministry to remove price caps from August 31, 2022. This can help an airline to do better performance if they take early decisions regarding future courses of action after understanding and doing analysis. Which importance of business environment and its understanding by managers is not highlighted above:
| “Dolma’ and ‘Una’ were gardeners with decades of hands-on experience. They were the first ones to recognise the need of indoor gardens specially for plant-lovers living in apartments. They took advantage of this opportunity and decided to offer beautiful designing ideas for indoor gardening through their innovative venture ‘My Space’. ‘My Space’ offered creative ideas like ‘Garden wall’, "Hanging Garden', ‘Window Garden’, “Book-shelf garden’ and many more. Since there were no competitors they soon became the market leaders in the field. |
From the following points, identify the importance of Business-Environment high lighted above:
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.
An awareness of business environment enables an enterprise to take advantage of early opportunities instead of losing them to competitors.
Which benefit of understanding the business environment is highlighted in the above statement?
What are the five key points that highlight the significance of Environmental scanning in guiding organisations to adapt to rapidly changing business environment?
