Question

Explain changing dimensions of legal environment in india

Answer 1

The legal environment means the rules and regulations which are framed for regulating the business.

 Framing the laws in that whether it is to safeguard the interest of consumers, wages,safety, health at work or to channelize the investments to to preserve the environment and ecological balance, all these constitute legal environment.

Changing dimension of legal environment in India framed by the government affect the strategic choice of the business.

It may increase or crucial the business opportunities i.e providing subsidies to small scale industry and agriculture helps them to prosper ans also help them to withstand competition from large industry.

The legal environment may also be defined as the principles recognized and applied by the state in the administration of the justice.

Answer 2

The legal environment determines the laws and ordinances which are devised for monitoring the business. The drafting of these laws plays a significant role in safeguarding the benefit of customers, earnings and wages, and also to monitor the security and wellness at workplaces, or to channelize the expenses or to preserve the ecosystem and biological balance, all this legislate the legal environment.

The laws devised by the government or the activities inaugurated by the government influence the imperative choice of business. It may enhance or diminish business opportunities.