business environment

Which of the following is not a part of the business environment of business?

• Suppliers

• Competitors

• legal

• None

The sum total of all individuals, institutions and other forces that are outside the control of a business enterprise but that may affect its performance is known as________________

• Business environment

• Social environment

• Political environment

• Economic environment

As part of regulations to be followed by advertisers, the advertisement for a new brand of baby food for infants provides important information for potential buyers that it is “Not recommended for infants under the age of four months”. Which dimension of the business environment is highlighted in the above statement?

• Social

• Legal

• Political

• Economic

It is interesting to know that the menu items of the multinational food chains are customised to suit the general palates of the local people in the region. When McDonald’s started its business in India in the year 1996, the company went through a complete localisation strategy. McDonald’s changed its product menu to accommodate the vegetable burger given the large vegetarian population. It also altered its store design and even reduced the product price by close to fifteen per cent. Also , the “McAloo Tikki burger” is not available anywhere but in the Indian outlets of McDonalds.Identify the relevant feature of business environment being discussed above

• Relativity

• Interrelatedness

• specific and general forces

• totality of external forces

India’s retail sector has been undergoing structural changes for the last two decades. On one hand, the ‘mall culture’ has gradually become a way of life, especially in the metros and mini¬metros. On the other hand, there is accelerated growth in e-business as customers also prefer to buy products and services via the Internet, telephone and television. However, operating in either of the segments is marked by the presence of strong competitors.

Which characteristic of business environment is reflected above.

• Uncertain

• Complexity

• Specific and general forces

• Interrelatedness

INdia continues to be a lower-middle-income country along with 46 others, while Sri Lanka has climbed to the upper-middle-income group for the fiscal year (FY) 2020, according to the World Bank’s classification of countries by income levels, released on July 1, 2019.

Identify the related dimensions of business environment.

• Social

• Technological

• Economic

• Political

As a result of major government initiatives, more and more people are going ‘green’. In order to keep in line with the trend, ‘Clapaway’ a carpet cleaning company has advertised that they only use natural cleaners that come from renewable resources and that all their service vehicles are hybrid vehicles that use both gas and electricity. Identify one of the points related to the importance of business environment and its understanding by managers which is being highlighted in the above case.

• It helps in assisting in planning and policy formulation.

• It helps in coping with rapid changes.

• It helps in improving performance

• It enables the firm to identify opportunities and getting the first mover advantag

Electric vehicles with zero tail pipe emission are emerging as a good alternative to ‘ problems like climate change, surging pollution leading to ill health, crude import bill and energy security. Identify the related dimensions of business environment.

• Economic dimension, Legal dimension and Social dimension

• Economic dimension, Technological dimension and Social dimension

• Social dimension, Political dimension and Economic dimension

• Social dimension, Political dimension and Legal dimension

he Economic Survey, 2019 suggests that the psychological biases can be used in the realm of tax compliance. It is in favour of using religious norms such “dying in debt is a sin” to improve tax compliance. Identify the related dimensions of business environment.

• Legal dimension and Social dimension

• Social dimension and Economic dimension

• Technological dimension and Political dimension

• Political dimension and Economic dimension

In order to boost and double India’s export of goods and services to over USD 1,000 billion by 2025, it is important to lower effective corporate tax rate, bring down cost of capital and simplify regulatory and tax framework. Identify the related dimension of business environment.

• Social dimension and Legal dimension

• Technological dimension and Political dimension

• Political dimension and Social dimension

• Economic dimension and Legal dimension