Advertisements
Advertisements
Question
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.
Solution
The two dimensions of business environment that is being highlighted in the given case are as follows:
- Technological environment - The technological environment comprises the technological improvements that provide new business opportunities for enterprises. In the given situation, the new technique to grow chemical fertilizers relates to the technological dimension of the business environment.
- Social environment - The social environment comprises of factors such as beliefs, traditions, social trends, etc. that affect the demand for goods in the society. Here in the question since, consumers were concerned about the harmful chemicals being used and were looking for other alternatives, so this relates to the social environment of the business.
RELATED QUESTIONS
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).
National Digital Library of India (NDL India) is a pilot project initiated by the HRD ministry. It works towards developing a framework of virtual repository of learning resources with a single-window search facility. It provides support to all academic levels including researchers, life-long learners and differently-abled learners free of cost. State the dimensions of business environment highlighted above.
How would you characterize business environment? Explain with examples, the difference between general and specific environment.
What is meant by Macro Environment?
What is the social environment? Enumerate any three components of the social environment.
State two components of the legal environment of a business concern.
Which of the following is an example of a social environment?
Advertisement of alcoholic beverages is prohibited. This is an example of ________.
Which factor is not included in Macro Environment?
“The nature of the relationship of our country with foreign countries”, is a major element of which of the following components of the Business Environment?
As part of regulations to be followed by advertisers, the advertisement for a new brand of baby food for infants provides important information for potential buyers that it is “Not recommended for infants under the age of four months”. Which dimension of the business environment is highlighted in the above statement?
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.
Which of the following items is a component of economic environment?
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:
Which one of the following is NOT a component of the legal environment?
What is meant by technological environment?
Explain any two components of the Technological Environment.
State any three components of Social environment.
