Question

The organize food market in India is growing at 25-30 percent which reflects a clear shift in

consumer tastes and preferences. The current growth in the organize food market is driven by

multiplicity of factors like rising health consciousness, changing lifestyles, increase in disposal

income and growing availability of organic food products in shopping malls, retail outlets and

online.

Identify and explain the features of business environment being referred to here​

Answer 1

Explanation:

The features of business environment being referred to in the above case are as follows: Dynamic nature: It is dynamic in nature and keeps on changing due to technological upgradations, shifts in consumer preferences or increase in competition in the market.

Answer 2

The features of the business environment being referred to here​ are given below:

Explanation:

• Dynamic nature: It is the dynamic nature of the business environment that keeps on changing due to technological advancements, changes in consumer preferences, or a rise in competition in the market.

• Inter-relatedness: All the components of the business environment are closely interconnected. Consequently, any change is one component that may demand corresponding changes in the other components as well.

• Various factors of general forces that have led to a growth in the organic food market are as follows:

• 1. Social: Rising health consciousness and changing lifestyles.

• 2. Economic: Increase in disposable income of most consumers.

• 3. Technological: Rising availability of organic food products in retail outlets, shopping malls, and online.