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Question
What is included in ‘Technological Environment’ of business? State.
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Solution
The technological environment includes technological changes and improvements such as new communication facilities. It may also get reflected in factors such as expenditure on R&D and rate of obsolescence.
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RELATED QUESTIONS
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
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b. State the principle of management being followed by 'Fortio'.
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What is meant by indirect channels of distribution?
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| 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 |
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| Group ‘A’ | Group ‘B’ |
| A) Internal environment | 1) Knowledge of law |
| B) Political environment | 2) Taxation policy |
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| 7) High cost | |
| 8) Ideology of political party |
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Geographical and Ecological factors are included in ____________ Environment.
Correct the underlined word and rewrite the following sentence.
External factors of business environment are controllable.
Explain the following term/concept.
Business environment.
Explain the following term/concept.
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| Column I | Column II | ||
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| (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 |
