Question

Identify the Dimension of Business Environment relating to the statements given below: i.The increasing interest of the urban people in health and fitness. i.With the increase in the income of the people the increase in their demand of certain commodities. ii.Discrimination in the remunerations of men and women doing the similar type of work. iv.Opposition of certain political parties to the Foreign Direct Investment in Organised Retailing. v.The Adverse impact on the Cotton Cloth Industry with the coming up of the clothes made of synthetic thread in the market. vi.Ban imposed by the court on the sale of a product in vogue on account of the failure of its samples.

Answer 1

Answer:

Explanation:

i. Social environment

ii.economic environment

iii. Social environment

iv . Political environment

v. Economic environment

vi. Legal environment

Answer 2

Answer:

i  Social environment

ii. Economic environment

iii. Social environment

iv. Political environment

v. Economic environment

vi. Legal environment

Explanation:

• Social environment: In a society, social tendencies are proportional to product demand. Health and fitness are examples of social trends. Diet foods, diet beverages, and fitness centres have given the health and fitness business a fresh lease on life.
• Economic environment: Demand and Supply: When a company discovers a profitable opportunity, they are looking for evidence of a product's prospective demand. Businesses with the ability to predict future revenues have an incentive to boost production. The market's demand and supply of a commodity have a huge impact on the business environment. This element is based on the market demand for a commodity and the producer's ability to provide that demand on time.
• Social environment: Values: It relates to societal moral values such as market freedom, social justice, equality of opportunity, and non-discriminatory activities, among others.
• Political environment: It means that the government took acts that could have an impact on the daily operations of any business or company in the United States or throughout the world. The government's attitude toward business and industry, government stability, and peace in the country all play a role in the success of business and industry. For example, India's political stability and central government's attitudes toward business, industry, and employment have attracted a large number of national and foreign business entrepreneurs to invest.
• Economic environment: Rate of inflation: When the economy is in a slump, the customer's purchasing and investing power decreases. Because the firm has no control over the broad variables affecting the business environment, it must adjust to survive the transition. And the producer must re-establish his commodity's prices for people to afford it.
• Legal environment: The legal environment encompasses both government-enacted legislation and decisions made by numerous commissions and agencies at all levels of government. Every firm must follow the laws of the jurisdiction in which it desires to operate.

Hence, economic, social, legal, technological, and political circumstances are considered properly for decision-making and boosting the achievement of the trading concern in the dimensions of agents producing the business environment.

#SPJ3