BUSINESS ADMINISTRATION
BUSINESS ENVIRONMENT
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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Technological Environment
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Legal Environment
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Social Environment
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Economic Environment
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Detailed explanation-1: -Ans. 3 Dimension of business environment highlighted here is Technological environment .
Detailed explanation-2: -These are economic, social, legal, political and technological.
Detailed explanation-3: -The technology dimension focuses on identifying the ways in which technology is incorporated in the current organisation. This dimension questions whether the company provides digital solutions in its products and services to customers and whether digital communication and e-commerce are applied.
Detailed explanation-4: -The economic environment consists of an economic system, economic policies and economic conditions prevailing in a country. Interest Rates, Taxes, Inflation, Stock Market Indices, Value of Rupee, Personal Disposable Income, Unemployment rate etc. are the factors which affect the economic environment.
Detailed explanation-5: -In general, the macro environment includes trends in the gross domestic product (GDP), inflation, employment, spending, and monetary and fiscal policy. The macro-environment is closely linked to the general business cycle as opposed to the performance of an individual business sector.