Advertisements
Advertisements
Question
Study the following case/situation and express your opinion.
Make in India is an initiative launched by the government of India. It focuses on job creation and skill development and it is in twenty-five sectors of the economy. Under the initiative, brochures on these sectors and web portal were released. The initiative aims at high quality standards and minimizing the impact on the environment. It also seeks to attract foreign capital investment in India.
- Identify dimensions of the business environment.
- Comment on it.
Advertisements
Solution
- The various dimensions of the business environment referred to in the above case are:
(a) Political environment
(b) Technological environment
(c) Economic environment - Make in India is the policy of the government as per its ideology. As it is focusing on job creation and skill development in 25 sectors of economy, it conveys two values through this initiative. High-quality standards and concern for environment. It also aims to attract foreign capital investment in India.
APPEARS IN
RELATED QUESTIONS
Why is the understanding of business-environment important for managers? Explain with the help of any four points
Name any two Specific forces of business environment affecting business.
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 |
State whether the following statement is True or False.
External factors of business environment are controllable factors.
Select the correct Option
In how many type environmental factors can be classified?
Correct the underlined word and rewrite the following sentence.
Internal factors of business are beyond control.
Explain the following term/concept.
Economic environment.
Explain the following term/concept.
Political environment.
Study the following case/situation and express your opinion.
Just after the declaration of the Lok Sabha 2014 result, the Bombay Stock Exchange Sensex rose by 1000 points in a day.
- Identify the environmental factor which led to this rise giving a reason.
- Explain any two other dimensions of the environment.
Study the following case/situation and express your opinion.
Anchor company manufacturing light tubes increased expenditure on Scientific Research and Development and discovered a technology that made it possible to produce an energy-efficient light tube that lasts at least twenty times as long as a standard tube. It resulted in the growth and profitability of the company.
- Identify the dimension of the business environment.
- State importance of the business environment.
Attempt the following:
Political Environment.
Attempt the following:
Impact of new economic policy on business and industry.
Business environment is a group of powers.
The sum total of all individuals, institutions and other forces that are outside the control of a business enterprise but that may affect its performance is known as ______.
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-
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.
Which among the following best defines 'Business Environment'?
What does adapting to changes in the business environment mainly help a business achieve?
Which option lists both internal and external factors from the diagram provided?
