Question

CASE STUDY RELATED TO FEATURES OF BUSINESS?

Answer 1

Answer:

The Broad Feature of New Industrial Policy, 1991

The Government reduced the number of industries under compulsory licensing to six.

Many of the industries reserved for the public sector under the earlier policy, were dereserved. The role of the public sector was limited only to four industries of strategic importance.

Disinvestment was carried out in case of many public sector industrial enterprises.

The share of foreign equity participation was increased and in many activities 100 per cent Foreign Direct Investment (FDI) was permitted.

Automatic permission was now granted for technology agreements with foreign companies.

Foreign Investment Promotion Board (FIPB) was set up to promote and channelise foreign investment in India.

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Answer 2

Answer:

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Features of Business Environment

It is a sum total of all the forces external to business firms.

It consists of both specific forces such as investors, customers, competitors and suppliers which affect individual enterprises directly and immediately in their day-to¬day working and general forces such as social, political, legal and technological conditions which have impact on all business enterprises and thus may affect an individual firm only indirectly.

All the elements of business environment are closely interrelated.

It is dynamic in nature and keeps on changing due to technological upgradations, shifts in consumer preferences or increase in competition in the market.

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