BACHELOR OF BUSINESS ADMINISTRATION

Detailed explanation-1: -Legal component of business environment requires that advertisement of baby food must necessarily inform the potential buyers at mother’s milk is best for the baby. Informing the right back to the customer is one of the legal duties of any business.

Detailed explanation-2: -The business environment includes both general and specific forces. Specific forces include investors, customers, competitors, and suppliers. These factors affect individual enterprises directly and immediately in their day-to-day working. General forces include social, political, legal, and technological conditions.

Detailed explanation-3: -The legal environment of business is defined as the framework of rules and regulations, bylaws and various legislations that govern the day to day working of the business organisations. The legal environment dominates the business environment of a country.

Detailed explanation-4: -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-5: -An environmental policy addresses how a company manages and monitors its impact on the environment – both in its own operations and those of its supply chain. There is no set format but typically such policies cover use of energy and water, prevention of pollution, waste and recycling, and use of chemicals.