Advertisements
Advertisements
Question
What is included in the 'Legal environment' of business? State.
Advertisements
Solution
The legal environment includes the framework of legislation and rules impacting the business. It is framed by the Parliament and passed by the government such as the Companies Act, 1956, Industries Dispute Act, 1947, and Trade Union Act, 1926.
APPEARS IN
RELATED QUESTIONS
What is meant by indirect channels of distribution?
Give one word/phrase/term.
The environmental of business that includes customs and traditions, values, social trends.
Compete the sentence.
Geographical and Ecological factors are included in ____________ Environment.
Correct the underlined word and rewrite the following sentence.
External factors of business environment are controllable.
Correct the underlined word and rewrite the following sentence.
Internal factors of business are beyond control.
Explain the following term/concept.
Globalisation
Justify the following statement:
Political stability builds up confidence among business people.
Which of the following does not characterise the business environment?
Twinkle Stars' is a well-known resort for organizing parties, especially for children. However, in past 6 months its popularity has reduced considerably as a new resort with better ambience and facilities has opened within its vicinity. Name the related feature of business environment which has influenced the business of ‘Twinkle Stars’ adversely.
Read the following text and answer the following questions on the basis of the same:
The name and taste of Coca-Cola is known to almost each and every individual in India as well as throughout the world. This carbonated soft drink holds the most market share in the soft drink market and got itself a special seat in each and every gathering. The Coca-Cola Company has on occasion introduced other cola drinks under the Coke name. The most common of these are Diet Coke, along with others including Caffeine free Coca-Cola, Diet Coke Caffeine free, Coca-Cola Zero Sugar, Coca-Cola Cherry, Coca-Cola Vanilla and the list goes on. It has capitalized on each and every opportunity to market itself effectively and place itself in the middle of every gathering. The main reason for such an outstanding placement of product goes to the way they have established the connection between every occasion and the need for Coke to be present there, product design and creative advertising.
Identify the feature of Business Environment which the Coca-Cola Company managed to get in their favour.
"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:
Which of the following statements is incorrect?
"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:
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.
The changes in technology and the tastes and preferences of consumers cannot be predicted Which feature of business environment is highlighted here?
What does adapting to changes in the business environment mainly help a business achieve?
Which factors are outside the control of the business?
For shops that did not adapt to mobile wallets and UPI apps, losing business represents a(n):
Which of the following is an example of an environmental factor?
