Advertisements
Advertisements
Question
What is included in the 'Legal environment' of business? State.
Solution
The legal environment includes the framework of legislation and rules impacting the business. It is framed by the Parliament and passed by the government such as the Companies Act, 1956, Industries Dispute Act, 1947, and Trade Union Act, 1926.
APPEARS IN
RELATED QUESTIONS
What is meant by 'business environment'?
Why is the understanding of business-environment important for managers? Explain with the help of any four points
What is meant by business environment?
Give one word/phrase/term.
The process of transferring ownership of business enterprise, agency or public service from the public service to private sector.
State whether the following statement is True or False.
Business and environment are inseparable parts.
Compete the sentence.
______________ helps the business enterprise for overcoming challenge successfully.
Select the correct Option
Which factors of Business Environment regards as controllable?
Explain the following term/concept.
Economic environment.
Study the following case/situation and express your opinion.
Just after the declaration of the Lok Sabha 2014 result, the Bombay Stock Exchange Sensex rose by 1000 points in a day.
- Identify the environmental factor which led to this rise giving a reason.
- Explain any two other dimensions of the environment.
Study the following case/situation and express your opinion.
The government of India is seriously thinking to allow oil marketing under the public sector, by fixing their own price for petroleum products.
- Name the economic reform related to this decision.
- Name the other two reforms recommended in the new economic policy.
Justify the following statement:
Political stability builds up confidence among business people.
Attempt the following:
Political Environment.
Attempt the following:
Impact of new economic policy on business and industry.
According to the United Nations Environmental Agency, the world produces around 300 million tons of plastic each year, half of which constitutes single-use items. Ford is recycling over one billion plastic bottles every year to develop elements of the car's interior, reducing the amount of plastic ending up in a landfill. The American car maker has revealed that their Romanian-built EcoSport SUVs' carpets are made using 470 recycled singleuse plastic bottles The process for making Ford EcoSport carpets involves shredding bottles and their caps into tiny flakes and then heating them to 260° C. Identify the related dimension of business environment.
"The increase in the demand for many ayurvedic medicines, health products and services in the past few months, is related to the need for building immunity and an increased awareness for health care due to the spread of Corona Virus." Identify the feature of business environment being described above.
The term 'Business Environment' means the sum total of:
Assertion (A): Changes in fashions and tastes of consumers may shift demand in the market from existing products to new ones.
Reason (R): Business environment is dynamic, i.e., it keeps on changing in consumer preferences.
The changes in technology and the tastes and preferences of consumers cannot be predicted Which feature of business environment is highlighted here?
