BUSINESS ADMINISTRATION
BUSINESS ENVIRONMENT
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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Nowadays the market is flooded with better quality of home appliances of foreign origin. The result in fall in the revenue of local companies as their products are much inferior and are also costlier so they are in less demand in the market.Which dimension of business environment can be seen here affecting the local companies’ revenue?
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Economic
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Political
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Social
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Technological
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Explanation:
Detailed explanation-1: -Answer: The various features of business environment which are highlighted in the above case are: Specific and general forces.
Detailed explanation-2: -Uncertainty: Business environment is uncertain as it is difficult to predict the future environmental changes and their impact with full accuracy.
Detailed explanation-3: -Answer: Interrelatedness. 5. ‘Business environment is related to local conditions’.
Detailed explanation-4: -Answer: Economic environment is the dimension of business environment of India being referred here. The three factors which broadly affect the economic environment of India are stated below: Stage of economic development of the country.
There is 1 question to complete.