Advertisements
Advertisements
Question
Justify the following statement:
External factors of business environment are beyond control.
Advertisements
Solution
- Factors that influence the business policy of an organization can be divided into internal and external factors.
- The business has no control over external forces.
- These are those factors that provide opportunities or pose threats to the organization.
- Factor such as social customs, values, economic policies, technological development, political ups and downs, legislation together constitute political, social, economic, legal, and technological diversions of business. Hence, they are not in the hands of business organizations.
- Internal factors are controllable and the business unit can modify their plans, policies, etc.
(Students can give an example of social, political, legal environment to justify further)
APPEARS IN
RELATED QUESTIONS
Study the following case/situation and express your opinion.
- The court passes an order to ban polythene bags as the bags are creating many environmental problems which affect the life of people in general.
- Society in general is more concerned about the quality of life. The government decided to give a subsidy to the jute industry to promote this business.
- Why does the court ban Polythene bags?
- Identify the different dimensions of the business environment.
- How does the Government try to promote jute industry?
Justify the following statement:
Business firms should be aware of the changes in society.
DigiLocker is the country's first secured cloud based platform for the storage, issuance and verification of documents with the Driving Licence & Vehicle Registration System of the Road Transport Ministry. The integration of a government department with Digilocker since its launch last year is one of the biggest of its kind. It will spare one people the trouble of carrying licences & vehicle papers, which can be accessed on phones using the DigiLocker app. Identify the related dimension of business environment.
The Uttarakhand government has developed surveillance network using latest satellite technology. Under this system, the states mining department would be in a position to check illegal mining activities across the state. The state government is also considering the use of drones in its proposed campaign against illegal mining. Identify the related dimensions of business environment.
______ environment comprises of political conditions such as peace and stability, law and order, etc.
Even though the political conditions vary from country to country, they impact the sentiment of an investor in the business, if the instability of the political conditions cause uncertainty and make it difficult for him to predict the future. Which feature of the business environment is being highlighted in the above statement?
"Even after opening up of the Indian economy in 1991 foreign companies found it extremely difficult to cut through the bureaucratic red tape to get permits for doing business in India, which created a negative impact on business."
Identify the dimension of the business environment which led to creation of the negative impact on business.
Which of the following is not an element of social environment?
State the five dimensions that must be managed on a project
Which of the following dimensions of Business Environment includes legislations passed by the government administrative orders issued by government authorities?
'Service sector contributes to almost half of India's GDP but employs only one-third of its workforce.' Which of the following dimensions of Business Environment is stated in the above line?
Even though the political conditions vary from country to country, they impact the sentiment of an investor in the business, if the instability of the political conditions cause uncertainty and make it difficult for him to predict the future. Which feature of the business environment is being highlighted in the above statement?
Which of the following is not an element of social environment:
"Increase in the use of mobile phones and i-pods instead of papers and radio" refers to an example of key component of general environment of business. Identify the component of business environment.
Which of the following statement is true with respect to political environment:
Which category in the provided diagram includes factors like political, social, technological, and legal?
Regular changes in which of the following can influence all businesses?
