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Question
State any four features of the Social environment.
Solution
The four features of the social environment are as follows:
- Customs and Traditions: This decides the celebration of various festivals like Diwali, Eid, Christmas, and its effect on business.
- Social Institutions and Groups or Social Aspects: Literacy level, educational system, cultural heritage standard of living of the various groups of people affect the social environment of business.
- Social Values: Cultural and social justice, national integration affect the business. Beliefs also help the business to meet customer needs.
- Social Trends: Nowadays people have become health conscious and therefore there is a sale of various types of goods like organic food, sugar-free products, etc.
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