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Business Environment
Explain “increasing competition” and “more demanding customers” as impact of government policy changes on business and industry?
Increasing competition: Government policies have enabled co-existence of government sector companies with private companies and compete fairly, leading to increasing competition.
More demanding customers: Government policies leading to economic libralisation allow consumers to become well-informed, increase their purchasing power (through rising incomes) and change their lifestyle, which makes them more demanding about quality and value-driven products/services.
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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.
Explain ‘Dynamic nature’ and ‘Uncertainty’ as features of Business Environment.
Business environment includes both 'specific and general forces'. List any four specific forces.
Why is business environment known as ‘totality of external forces’?
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