Question

Give a brief sketch of business environment

Answer 1

Each society has its own culture which consists of the customs, values, attitudes, beliefs,
habits, languages and other forms of interaction between the members of the society. Any business
firm which aims at entering any market for its products and services must develop complete
understanding of socio-cultural environment of the society involved and adapt its strategies thereto.
Successful business managers cannot afford to neglect the importance of these features. No business
can survive and grow without social harmony. Different countries, over different time periods, attain
social harmony and order of different forms, through different ways and means. Thus, socio-cultural
environment differs over space, time and methods. Three aspects may be described in the current
socio-cultural environment.