BUSINESS ENVIRONMENT

Following is the impact of government policy changes on business and industry:

• technological upgradation
• Demanding customers
• Increased competition
• All of the above

technological environment includes:

• advances in production technology
• advances in information technology
• popularity of e -banking
• all of the above

Following are the elements of social environment:

• Educational system and literacy rates
• family structure
• caste and occupational structure
• all of the above

Legal environment includes:

• government policies related to pricing
• the constitutional framework
• goverment policies related to import and export
• all of the above

Following is not the importance of business environment:

• Get first mover advantage
• complexity
• Tapping useful resources
• better performance

Which of the following is an example of social environment?

• money supply in the economy     
• consumer protection act
• The constitution of the country       
• composition of family

The importance of understanding of business environment is signified by :

• The importance of understanding of business environment is signified by :
• coping with rapid changes
• improvement in performance         
• all of the above

Liberalisation signifies:

• INTEGRATION AMONG VARIOUS ECONOMIES OF WORLD
• REDUCED  GOVERNMENT RESTRICTIONS & CONTROL
• POLICY OF PLANNNED DISINVESTMENT
• NONE OF THE ABOVE

In order for relationships in the business to be functional (have a positive impact),...

• Employees should be trained to be tolerant of differences.

• There should be a person who dominates discussions because they were a top student in university.

• Employees should be encouraged to communicate in a constructive manner about their ideas and even differences

• Time management skills are crucial - especially where the output of one employee becomes the input of another employee

True or False? Developing the business strategy forms part of the responsibilities of general management.

• True

• False