Kapil Sharma is working as the Country Head of a company which owns a chain of
malls under the name of Virtuoso' in the various parts of India. Through an analysis
report of the business environment, it has been brought to his notice that in the
coming years, shopping at a mall will not be a necessity for the buyers as purchases
can be made online from anywhere and at any time with ease and at the consumer's
convenience. Hence, malls will have to provide much more than shopping to be able
to attract customers. So, he recommends that Virtuoso' malls should to be
restructured into recreation centers, offering more spaces to socialize, host events
and concerts, and provide ample Food and Beverages options.
Consequently, the share of entertainment segment and Food and Beverages
segment in the overall mall space is increased by 20%. As a result, the company
gains enormously by getting the first mover advantage.
In context of the above case :
(a) Define the term 'Business Environment'.
(b) Explain the terms Threats' and 'Opportunities' by quoting lines from the
paragraph
Answers
Answer:
the term business Environment means the aggregate of all the forces, factors and instructions which are external to and beyond the control of an individual business organisation.
Threats refers to the external environment,trends and changes that hinder the firms performance." Though analysis report of the business Environment,ut has been brought to his notice that in the coming years , shopping mall will not be a necessity for the buyers as purchases can beade online from anywhere at anytime with ease and at the consumer' s convenience. hence,malls will have to provide much more than shopping to be able to attract customers.
opportunities refers to the positive external or changes that will help a firm to improve its performance." as a result, the company gains enormously by getting the first mover advantage.