Question

Nowadays the market offers a lot of opportunities to the marketers as the
customer income is rising. People have developed a taste for better quality
products even though they have to pay more. Their aspiration level have
increased

(a) Which dimension of Business environment is being referred to?
(b) Explain one more dimension of Business Environment with example?
​

Answer 1

Answer:

Customer's income is rising. People have developed a taste for better quality products even though they may have to pay more. The aspiration levels have

Answer 2

Nowadays the market offers a lot of opportunities to the marketers as the customer income is rising.

• The political-legal dimension is concerned with how the government regulates business and how it interacts with the private sector. There are three main reasons why this dimension is significant.
• Social is the aspect of the corporate environment that was just described. The social environment is made up of factors including values, norms, trends, and societal expectations of businesses, among others. The management tenet that Fortio adheres to is "Remuneration of Employees." The totality of all internal and external elements that have an impact on the firm is known as the business environment.
• When done with the proper balance of values, consideration, and expertise, management may be a positive force. A strategic initiative can begin on any of the three dimensions of strategy value, imitation, or perimeter.
• There are several possible value, imitation, and perimeter sequences, and each one exemplifies a particular strategic evolution. Businesses in India are needed to fully understand laws like the Companies Act of 1956, the Consumer Protection Act of 1986, the Industrial Disputes Act of 1947, the Competition Act of 2002, and others.

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