Question

20. Naman and Govind after finishing their graduation under vocational stream decided to start
their own travel agency which will book Rail Tickets and Air Tickets on commission basis.
They also thought of providing tickets within ten minutes through the use of internet. They
discussed the idea with their Professor Mr. Mehta who liked the idea and suggested them to
first analyse the business environment which consists of investors”, competitors and other
forces like social, political etc. that may affect their business directly or indirectly. He
further told them about the technological improvements and shifts in consumer preferences
that were taking place and hence they should be aware of the environmental trends and
changes which may hinder their business performance. He emphasised on making plans
keeping in mind the threat posed by the competitors, so that they can deal with the situation
effectively. This alignment of business operations with the business environment will result
in better performance.
Identify and state the component of business environment highlighted in the above Para.
State any two features of business environment as discussed by Professor Mehta with
Naman and Govind.
Also state two points of importance of business environment as stated by Professor Mehta
in
the above situation.​

Answer 1

Answer:

(a)The component of Business environment referred to here is-Technological Environment

(b)features of business environment is

1. Totality of external forces-"business environment which consists...directly or indirectly"
2. Dynamic nature-"He further told them...which may hinder their business performance "

(c)importance of business environment :

1. It helps in planning and policy formation-"He emphasized on making plans...situation effectively"
2. increases efficiency-"this alignment of business...with result in better performance"

pls explain the points more in detail, these are just the pointers. hope this answer helps you.

Explanation: