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प्रश्न
Why is the understanding of business-environment important for managers? Explain with the help of any four points
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उत्तर
No organisation can function in isolation. Understanding of the business environment is of vital importance for the smooth and successful functioning of an organisation. A business environment refers to the aggregate of external conditions, events and resources which are outside the control of a business but interact with it and affect its performance. In other words, everything which is outside the purview of an organisation but affects its performance composes the business environment. Some factors have direct influence and some have the indirect influence on the business. A continuous evaluation and understanding of the business environment help a firm to take account of these forces in a better manner, and thereby improve its functioning. Points highlighting the importance of the understanding of the environment for business enterprises:
- Identification of opportunities and threats: The business environment is ever evolving. An interaction with the environment and careful analysis will help a business identify positive opportunities. It enables the organisation to grab these opportunities, gain maximum benefit and move ahead of its competitors.
- Identification of threats: An identification of the threats can enable the organisation to take appropriate measures such as improving the quality and features of its mobile advertising.
- Accumulating useful resources: The environment offers itself as a source of inputs such as raw material, machinery and labour for the running of an organisation. In return, the business supplies the environment with its output. This is possible only if the enterprises have an understanding of what the environment desires and what it can offer. Thus, it is rational for organisations to take up those resources from the environment which can be converted to the desired output.
- Adjusting to changes: The business environment is dynamic in nature and is prone to numerous socioeconomic changes. A careful analysis and understanding of the environment helps an enterprise in adapting to these changes and taking timely actions
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संबंधित प्रश्न
State any three points of importance of business environment.
Explain any three features Business Environment
Answer the question.
Explain any four features of the Business Environment.
Match the pairs.
| Group ‘A’ | Group ‘B’ |
| A) Globalization | 1) Profit motive |
| B) Privatization | 2) 2006 |
| C) Liberalization | 3) Borderless economy |
| D) New economic policy | 4) Service Motive |
| E) Social Environment | 5) Internal factor |
| 6) Disinvestment | |
| 7) Social Values | |
| 8) 1991 | |
| 9) Abolishing license policy | |
| 10) GATT |
Give one word/phrase/term.
Uncontrollable factors of the business environment.
Give one word/phrase/term.
The environmental of business that includes customs and traditions, values, social trends.
Give one word/phrase/term.
The process of transferring ownership of business enterprise, agency or public service from the public service to private sector.
Give one word/phrase/term.
A boundary less worlds where there would be flow of goods, services, information, capital and people across nation.
State whether the following statement is True or False.
Business is the product of different environmental factors.
Answer in one sentence:
Which factors are included in internal environment?
Explain the following term/concept.
Globalisation
Explain the following term/concept.
Political environment.
Any kind of external devices, like compact discs (CD’s) for computers, have become obsolete. Google, with its Google Drive service, Apple with its icloud offering, enables the users store documents, photos, music and movies on web-based servers. Identify the feature of business environment being described in the above lines.
Read the following text and answer the following questions 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.
Identify the feature of Business Environment which the Coca-Cola Company managed to get in their favour.
The term 'Business Environment' means the sum total of :
"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 components of business environment keep on changing due to changes in various circumstances." This shows that business environment is ______.
Which among the following best defines 'Business Environment'?
