Chotu Halwai was running a famous sweet shop in Chandni Chowk in the late seventies. His
sweets ranging from barfi and gulab jamuns to jalebi and rabri were famous throughout Delhi.
Durig marriage season, he had no time to close down his shop due to the excessive orders. He
produced the sweets with best quality raw material and was totally against the adulteration. He
was doing so well that he had to increase his scale of operations. In the nineties, the Government
of India announced the policy of LPG. This enabled many foreign brands to enter India that gave
the customers more choice by offering them the international sweets and desserts. Chotu Halwai
realized that the customer is no longer going to stick to their traditional sweets. To stay in the
market, they now had to study and analyse the market and then decide their new offering.
What advantages Chotu Halwai will get by understanding the business environment?
Answers
Answer:
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Explanation:
Chotu Halwai was running a famous sweet shop in Chandni Chowk in the late seventies. His
sweets ranging from barfi and gulab jamuns to jalebi and rabri were famous throughout Delhi.
Durig marriage season, he had no time to close down his shop due to the excessive orders. He
produced the sweets with best quality raw material and was totally against the adulteration. He
was doing so well that he had to increase his scale of operations. In the nineties, the Government
of India announced the policy of LPG. This enabled many foreign brands to enter India that gave
the customers more choice by offering them the international sweets and desserts. Chotu Halwai
realized that the customer is no longer going to stick to their traditional sweets. To stay in the
market, they now had to study and analyse the market and then decide their new offering.
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- Business environment refers to the external and internal factors that indirectly affect the business. In the given example, the business environment is the introduction of LPG(liberalization, privatization, and globalization) which was introduced by the government of India in 1991.
- Advantages Chotu halwai will get due to the business environment are:
- Increase in demand abroad: due to LPG the scale of production of Chotu halwai will increases because he can sell his sweet abroad.
- Better technology: due to LPG, new and better technology can be used which improves efficiency and decrease the cost of production.
- Can fuse dishes from abroad with that of Indian dishes: Chotu halwai can fuse Indian sweets with that of western therefore the variety of sweets available in his shop increases. And because it's new and unique people will try it.
- Increase in demand within the country: because of advancements in technology and decreases in the cost of production the price of sweet falls which increase demand.
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