Answer the following question.
Mahinder Agro Ltd. started a new venture for the distribution of harmful and chemical fertilizers free vegetables. They conducted a survey to find out consumer preferences for such vegetables. They found that most of the consumers were concerned about the harmful chemicals being used in growing the vegetables. They found that 90% of the households were searching for its alternatives. The company contacted a group of agriculture experts to lay down the procedure for growing the vegetables by the farmers. They decided to train the farmers in new technology to grow chemical-free vegetables according to new innovative methods. The experts also suggested soil management techniques through which farmers would be able to create an abundant and lasting harvest.
Identify and explain the two dimensions of the business environment highlighted in the above para.
The two dimensions of business environment that is being highlighted in the given case are as follows:
- Technological environment - The technological environment comprises the technological improvements that provide new business opportunities for enterprises. In the given situation, the new technique to grow chemical fertilizers relates to the technological dimension of the business environment.
- Social environment - The social environment comprises of factors such as beliefs, traditions, social trends, etc. that affect the demand for goods in the society. Here in the question since, consumers were concerned about the harmful chemicals being used and were looking for other alternatives, so this relates to the social environment of the business.