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Business Environment
The understanding of business environment enables the firm to identify opportunities and threats. What do opportunities and threats means here?
Opportunities refer to the positive external trends /changes that will help to improve a firm’s performance. On the other hand, threats refer to the external environment trends / changes that will hinder a firm performance.
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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’?
How ‘first mover advantage’ is made available by the business environment? Give an example.
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