BUSINESS ENVIROMENT — OCM STD 12 Commerce — Question
Gujarat BoardEnglish MediumSTD 12 CommerceOCMBUSINESS ENVIROMENT3 Marks
Question
“Understanding of business environment are helpful taking policy decisions.”-Explain.
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Answer
Understanding of business environment enables a businessman to surpass other businessmen.
E.g. After independence, Indian insurance companies were nationalized in $1991$ and thereafter as a part of economic polity existence of private insurance companies is accepted.
In the coming years thereafter foreign direct investment $(FDI)$ of multinational companies became partners.
Thus insurance business development and changed the business environment of society.
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