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Business Environment
State the difference between general and specific environment with examples.
Business environment includes both specific forces (investors, customers, competitors and suppliers) and general forces (economic, social, political, legal and technological conditions). Specific forces affect an individual firm directly and immediately in its day to-
day working while general forces have impact on all business firm and thus may affect
an individual firm only indirectly.
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What do you mean by Business Environment?
Why it is important for business enterprises to understand their environment? Explain briefly.
Mention the various dimensions of business environment.
Liberalisation
Privatisation
Globlisation
Briefly discuss the impact of Government policy changes on business and industry.
How would you characterise business environment? Explain, with examples, the difference between general and specific environment.
Explain, with examples, the various dimensions of business enviornment.
How is business environment helpful in the ‘improvement of performance’?
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