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प्रश्न
Explain the following term/concept.
Economic environment.
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उत्तर
The economic environment comprises economic conditions, economic policies, and economic systems, basic economic philosophy, infrastructure, national income, money supply, saving stages in economic development and trade cycles.
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संबंधित प्रश्न
What is meant by 'business environment'?
Beni, after completing her MBA, took up a job with a multinational company named 'Fortio'. The company was paying good salary and perks to its employees. The wages were within the paying capacity of the company the provided the employees a reasonable standard of living. The company also had a good work-culture and the behaviour of superiors was very good towards their subordinates. Beni was very happy in this organisation, but due to long working hours, she did not have time to cook her meal. She had to depend upon outside food, which was deteriorating her health. She observed that this problem was faced by many of her colleagues, not only in her company but also in many other companies. This was because of increase in the number of working women and non-availability of hygienic home-cooked food. She identified this as a great opportunity and decided to give up her job to supply packaged home-cooked food to office goers at a reasonable price. At the end of the day, she was also distributing the left-over food in the nearby night-shelters
a. State the dimension of the business environment being discussed above.
b. State the principle of management being followed by 'Fortio'.
c. Identify any two values being communicated by the company to the society in the
above case.
What is meant by business environment?
Name any two Specific forces of business environment affecting business.
Select the correct option and rewrite the sentence.
Globalization is concerned with __________ market.
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 |
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.
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.
Attempt the following:
Economic Environment.
Answer the following.
What is the business environment? Explain the importance of the business environment.
Business environment is a group of powers.
Since more number of people have become more beauty and health conscious, our economy has witnessed an unprecedented surge in the number of health and beauty spas and wellness clinics. Related feature of business environment being described in the above lines is-
Match the FEATURES of Business Environment in Column I with the appropriate EXPLANATION in Column II.
| Column I | Column II | ||
| (a) | Complexity | (i) | Very difficult to predict future happenings |
| (b) | Specific forces | (ii) | Easier to understand in parts but difficult to grasp in its totality |
| (c) | Uncertainty | (iii) | Affect individual enterprises directly and immediately |
"The shift of demand from soft drinks to juices is an opportunity for juice companies and threat for soft drink companies." Identify the feature 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.
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.
What does adapting to changes in the business environment mainly help a business achieve?
What is identified as a major benefit of understanding the business environment?
