BUSINESS ADMINISTRATION
BUSINESS ENVIRONMENT
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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Political Environment
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Economics Environment
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Legal Environment
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Social Environment
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Detailed explanation-1: -It’s high time that the government should finalise the industrial and monetary policies. The various economic indices like national income, per capita income, rate of savings and investment, etc. should be taken care of while deciding any economic plans for future.
Detailed explanation-2: -Answer: Technological Environment is the component of business environment highlighted in the above Para. Technological Environment includes forces relating to scientific improvements and innovations which provide new ways of producing goods and services and new methods and techniques of operating a business.
Detailed explanation-3: -Relativity: Business environment is a relative concept whose impact differs from country to country, region to region and firm to firm. For example, a shift of preference from soft drinks to juices will be welcomed as an opportunity by juice making companies while a threat to soft drink manufacturers.
Detailed explanation-4: -External environment refers to the environment which is beyond the control of an individual working in a company.