Which one of the following is not a feature of business environment?
  • Uncertainty
  • Interdependence
  • Complexity
  • Stability
Which one of the following is a part of economic environment?
  • Public debt
  • Lifestyle of people
  • Technological changes
  • Level of education
Proper understanding of business environment is not a prerequisite for
  • tapping of useful resources.
  • identification of opportunities and threats.
  • formulation of strategies.
  • better coordination of employee efforts.
Globalisation means
  • reduced role of public sector
  • integration of economies
  • lowering interest rates
  • control of inflation
Which one of the following is the impact of Government policy changes on business and industry?
  • Increase in agricultural productivity
  • Increase in product prices
  • Increase in competition
  • Increase in urbanisation
___ nature of business environment suggests that environment keeps on changing.
  • Dynamic
  • Pervasive
  • Continuous
  • Multidimensional
___ is the integration of world economy into a single market through removal of trade barriers between countries.
  • Privatisation
  • Liberalisation
  • Globalisation
  • Both(a) and (b)
___ feature of business environment states that various factors of business environment affect each other.
  • Pervasive
  • Continuous
  • Dynamic
  • Interrelatedness
Legal rules and regulations relevant to business are included in ___ environment of business.
  • Legal
  • Political
  • Economic
  • Technological
A business has to offer wider choice in purchasing enhanced quality of goods and services in order to maintain an edge over its competitors. The implementation of the new economic policy with liberalisation, privatisation and globalisation has posed various challenges for the corporate sector. One of the important challenges is explained in the above lines. Identify it.
  • Increasing competition
  • More demanding customers
  • Necessity for change
  • Market orientation
On 8th November 2016, with the announcement from Government of India, all the ₹500 and ₹1,000 banknotes of the Mahatma Gandhi series have ceased to be a legal tender. The givemment also announced the issuance of new ₹500 and ₹2,000 banknotes in exchange for the demonetised banknotes. Identify the concept being described in the above lines.
  • Globalisation
  • Liberalisation
  • Demonetisation
  • Privatisation
According to a report by the India Staffing Federation (ISF), India has emerged as the
  • Relativity
  • Dynamic nature
  • Uncertainty
  • Interrelatedness
India’s population is expected to grow under 0.5 per cent during 2031-41 due to decline in fertility rate and increase in life expectancy. These changes in India’s demography will also have implications such as the proportion of elementary school-going children will witness significant declines, lack of hospital beds and increase in retirement age. The related feature of business environment being described in the above lines is
  • Totality of external forces
  • Dynamic nature
  • Interrelatedness
  • Relativity
As a result of major government initiatives, more and more people are going ‘green’. In order to keep in line with the trend, ‘Clapaway’ a carpet cleaning company has advertised that they only use natural cleaners that come from renewable resources and that all their service vehicles are hybrid vehicles that use both gas and electricity. Identify one of the points related to the importance of business environment and its understanding by managers which is being highlighted in the above case.
  • It helps in assisting in planning and policy formulation.
  • It helps in coping with rapid changes.
  • It helps in improving performance.
  • It enables the firm to identify opportunities and getting the first mover advantage.
Electric vehicles with zero tail pipe emission are emerging as a good alternative to ‘ problems like climate change, surging pollution leading to ill health, crude import bill and energy security. Identify the related dimensions of business environment.
  • Economic dimension, Legal dimension and Social dimension
  • Social dimension, Political dimension and Economic dimension
  • Economic dimension, Technological dimension and Social dimension
  • Social dimension, Political dimension and Legal dimension
In order to boost and double India’s export of goods and services to over USD 1,000 billion by 2025, it is important to lower effective corporate tax rate, bring down cost of capital and simplify regulatory and tax framework. Identify the related dimension of business environment.
  • Social dimension and Legal dimension
  • Technological dimension and Political dimension
  • Political dimension and Social dimension
  • Economic dimension and Legal dimension
DigiLocker is the country’s first secured cloud-based platform for the storage, issuance and verification of documents with the Driving Licence & Vehicle Registration System of the Road Transport Ministry. The integration of a government department with DigiLocker since its launch last year is one of the biggest of its kind. It will spare 1 people the trouble of carrying licences & vehicle papers, which can be accessed on phones using the DigiLocker app. Identify the related dimension of business environment.
  • Ecoriomic dimension
  • Technological dimension
  • Social dimension
  • Political dimension
Any kind of external devices, like compact discs (CD’s) for computer, have become obsolete. Google, with its Google Drive service, Apple with its iCloud offering, enables the users store documents, photos, music and movies on web-based servers. Identify the feature of business environment being described in the above lines.
  • Relativity
  • Dynamic nature
  • Uncertainty
  • Interrelatedness
Since more number of people have become more beauty and health conscious, our economy has witnessed an unprecedented surge in the number of health and beauty spas and wellness clinics. Related feature of business environment being described in the above lines is —
  • Totality of external forces
  • Dynamic nature
  • Interrelatedness
  • Relativity
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