BUSINESS ADMINISTRATION
BUSINESS ENVIRONMENT
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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Legal environment
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Social environment
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Technological environment
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Economic environment
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Detailed explanation-1: -There are 5 dimensions to business environment. These are economic, social, legal, political and technological.
Detailed explanation-2: -Specific forces (such as investors, customers, competitors and supp-liers) affect individual enterprises directly and immediately in their day-to-day working.
Detailed explanation-3: -Answer: The various importance of business environment highlighted above: It helps in coping with rapid changes. The market has fragmented as there are many players, brand loyalties of the customers keep on changing, customers are more demanding and there is intense competition in the market.
Detailed explanation-4: -Answer: (a) Economic environment is the dimension of business environment of India being referred here. (b) The three factors which broadly affect the economic environment of India are stated below: I. Stage of economic development of the country. II.