BUSINESS ADMINISTRATION
BUSINESS ENVIRONMENT
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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The extent and nature of government intervention in business
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Planned outlay in public and private sectors
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Expectations from the work force
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Administrative order issued by government authorities
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Detailed explanation-1: -The extent and nature of government intervention in business are considered a major element of the political environment. Answer: Option a. Explanation: In a country, its political status and situation leave a direct impact on the economic condition of the country.
Detailed explanation-2: -Major elements of political environment are (a) The constitution of the country (b) The nature and profile of political leadership and thinking of political personalities (c) Political ideology and practices of the ruling party.
Detailed explanation-3: -The political environment is related to the business environment including all the rules and regulations, laws and the role of government in the day-to-day operations of organizations. The business political environment refers to the political or governmental actions that affect business operations.
Detailed explanation-4: -Public debt (internal and external) is considered a major element of the economic environment.
Detailed explanation-5: -Productivity is considered a major element of the economic environment.