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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
What is included in ‘Technological Environment’ of business? State.
Explain any three features of the business environment.
Select the correct option and rewrite the sentence.
Business environment has tremendous impact on __________.
Match the pairs.
| Group ‘A’ | Group ‘B’ |
| A) Internal environment | 1) Knowledge of law |
| B) Political environment | 2) Taxation policy |
| C) Legal environment | 3) Technology |
| D) Economic environment | 4) Traditions |
| 5) WTO | |
| 6) Controlled by business | |
| 7) High cost | |
| 8) Ideology of political party |
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.
Compete the sentence.
______________ helps the business enterprise for overcoming challenge successfully.
Literacy is the important part of ______ Environment.
Compete the sentence.
Stability and peace in the country includes in _______ Environment.
Answer in one sentence:
Which factors are included in internal environment?
Explain the following term/concept.
Business environment.
Explain the following term/concept.
Economic environment.
Explain the following term/concept.
Political environment.
Which of the following does not characterise the business environment?
Which of the following statements is incorrect?
"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 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.
Which characteristic of the business environment is highlighted when changes are taking place too frequently and it becomes difficult to predict the future?
