What is meant by ‘political environment’of business?

Solution

Political environment of business means the outcome of a combination of various ideologies advocated by different political parties. It includes the factors related to the governmental activities, such as: type of government in existence (single party or coalition government), attitude of government towards different industrial sectors, progress towards the passage of laws, platforms of various political parties, predisposition of candidates running for various posts, efforts by various groups of people for getting maturity in their favour, etc.

Some More Questions From Business Environment Chapter

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Business Environment

What is meant by ‘political environment’of business?

Some More Questions From Business Environment Chapter

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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