'The understanding of business enables the firm to identify opportunities'.What is meant by 'opportunities' here?

1

(a)

'Opportunities' in the given statement refer to the positive changes in external environment, which will help a firm to improve its performance.

'The understanding of business environment helps the managers to identify threats'.What is meant by threats here?

1

(a)

'Threats' in the given statement refer to the negative trends in the external environment, which hinders the firm's performance.

Business environment includes both 'specific and general forces'.List any four specific forces.

1

(a)

The four specific forces are investors, customers, competitors, and suppliers.

As a foreign tourist visited India, he noticed that Indian markets, tastes, trends, and regulations were different from that of his country. Which feature of business environment is reflected here?

1

(a)

Business environment is 'relative'.

Do you think business environment is a relative concept?

1

(a)

Yes, business environment is a relative concept as it differs from country to country and from region to region.

Define 'privatisation' as a process of economic reforms.

1

(a)

Privatisation means giving greater role to the private sector in the nation-building process and drastically reducing the role of the public sector.

List the major elements of new industrial policy.

1

(a)

The major elements of new industrial policy are:
(i) Liberalisation    
(ii) Privatisation  
(iii) Globalisation

What is the main reason behind the inefficiency of the public sector undertakings?

1

(a)

PSUs fail to adapt the changes as they were cautious and conservative in their approach.Lots of political interference, red tapism and bureaucracy further did not let PSUs perform to their full potential.

Business environment includes both specific and general forces.List any four general forces?

1

(a)

General forces are social, legal, political, and technological.

Male CEOs are most preferred for all type of organization. Don’t you think female executive need to have a fair chance? If so give valuable suggestions.

1

(a)

Women empowerment, Equality, Recognising the talent.

In recent times the Govt. has increased the prices of diesel and LPG. Which value is being overlooked here?

1

(a)

Decline in interest rates on housing loans declared by RBI. Name the component of business environment. What values we inculcated by this component of business environment?
Context: Economic environment

1

(a)

‘Demand for reservation in jobs for minorities’. Identify the type of dimension of business environment. State the values promoted in the above case. Social Environment

1

(a)

State four examples of changes in business environment that affect business enterprises.

1

(a)

Explain two features of business environment.

1

(a)

Ganga Foods Ltd is engaged in the business of food processing. It sells its product under a popular brand.Lately, the business has been expanding due to good quality product and at responsible prices.
Enumerate the environmental changes responsible for increase in sales.

3

(a)

Explain any three impacts of government policy changes on business and industry?

3

(a)

When government came out with policy changes it laid some positive and negative impact on the business.Discuss some of them.

3

(a)

Management of every enterprise can be benefited from being aware of different dimensions of business environment.Explain any four such dimensions.

3

(a)

Why it is important for business enterprise to understand their environment? Explain briefly.

3

(a)

Explain by giving any four points, why in the present day of competitive market, it is essential for a business to remain alerted and aware of its environment.

4

(a)

Explain by giving any five reasons why understanding of business environment is important for a manager.

4

(a)

Explain the concepts of 'Business Environment' and any three features of it.

4

(a)

Briefly, discuss the impact of government policy changes on business and industry.

4

(a)

'The impact of government policy changes has been positive for the economy'. Justify.

4

(a)