BUSINESS ADMINISTRATION
PRINCIPLES AND PRACTICE OF MANAGEMENT
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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Economic Environment
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Political Environment
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Social Environment
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Legal Environment
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Detailed explanation-1: -Hence, component of business environment that resulted in the relaxation of ban imposed on the Foreign Direct Investment is Legal regulatory Framework.
Detailed explanation-2: -4. General and Specific Forces-Business environment consists of both general and specific forces. General forces such as economic, social, political, legal, natural and technological conditions influence all business enterprises. Specific forces such as investors, customers, competitors, suppliers, etc.
Detailed explanation-3: -Totality of external forces: Business environment is the sum total of all the forces/factors external to a business firm. Specific and general forces: Business environment includes both specific and general forces. Specific forces include investors, competitors, customers etc.
Detailed explanation-4: -All illegal activities do not come under the dimensions of a business environment.