Business Studies 1 Marks Question

What is meant by ‘liberalisation’?

What is meant by 'Business Environment'?

What is included in ‘Legal Environment’ of Business? State.

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

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

What role does legal environment play in the business?

Name & state the aspect of financial management that provides a link between investment and financing decisions.

What is included in 'Political Environment' of business? State.

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

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

What role does social environment play in the business?

‘Gallant’ is a well known FMCG (Fast Moving Consumer Goods) company in India. However, for the past few years its profitability is diminishing due to the presence of a new company ‘Prakritik’. ‘Prakritik’ has gradually acquired a reasonable share in a wide variety segments like soaps, shampoos, detergents, dish wash and oral care. One of the key reason is that ‘Prakritik’ has positioned itself as a natural/Ayurvedic brand and this approach has worked well with the Indian consumer. In order to compete with this threat ‘Gallant’ has acquired a premium Ayurvedic brand ‘Madhumita’ from another group. Moreover its likely to increase its advertising budget to counter the threat from ‘Prakritik’.
In the context of the above case :

1. Identify the related component of the business environment which has contributed effectively towards the success of Prakritik.
2. Also, state the two ways in which ‘Gallant’ has responded to the changes in its business environment.

The government wants to raise Rs.56,500 crore from the sale of stakes in state-owned enterprises National Thermal Power Corporation (NTPC) in the financial year 2016-17. Identify and explain the related concept.

It is interesting to know that the menu items of the multinational food chains are customised to suit the general palates of the local people in the region. When McDonald’s started its business in India in the year 1996, the company went through a complete localisation strategy. McDonald’s changed its product menu to accommodate the vegetable burger given the large vegetarian population. It also altered its store design and even reduced the product price by close to fifteen per cent. Also , the “McAloo Tikki burger” is not available anywhere but in the Indian outlets of McDonalds.
Identify the relevant feature of business environment being discussed above.

India’s retail sector has been undergoing structural changes for the last two decades. On one hand, the ‘mall culture’ has gradually become a way of life, especially in the metros and mini¬metros. On the other hand, there is accelerated growth in e-business as customers also prefer to buy products and services via the Internet, telephone and television. However, operating in either of the segments is marked by the presence of strong competitors.
Identify the components of specific forces and general forces being discussed in the above paragraph.

Post demonitisation in a further push to cashless economy, the Central cabinet has recently approved the ordinance for paying wages via electronic means. Accordingly, the government approved to Amend Section 6 of the Payment Of Wages Act 1936, to allow employers of certain industries to make payment through the electronic mode and cheques . The new ordinance will be applicable to the public sector. Identify the various dimensions of business environment which relate to the above mentioned case.

A recent rate cut in the interest on loans announced by the banks encouraged Amit, a science student of Progressive School, to take a loan from State Bank of India to experiment and develop cars to be powered by fuel produced from garbage. He developed such a car and
exhibited it in the Science Fair organised by the Directorate of Education. He was awarded the first prize for his invention.
Identify and explain the dimensions of business environment discussed in the above case.

With changes in the consumption habits of people, Neelesh, who was running a sweet shop, shifted to the chocolate business. On the eve of Diwali, he offered chocolates in attractive packages at reasonable prices. He anticipated huge demand and created a website chocolove. com for taking orders online. He got a lot of orders online and earned huge profits by selling the chocolate.
Identify and explain the dimensions of business environment discussed in the above case.

Business environment enables the firm to identify opportunities and getting the first mover advantage. Justify it with an example.

Business environment is the aggregate of external forces. (True/ False)

Now-a-days most people buy their movie tickets on "Book My Show” in order to save their time and avoid disappointment. Identify the dimension of business environment being highlighted here.

What is included in ‘Legal Environment’ of Business? State.

Give two changes introduced in Industrial Policy of July 1991.

“The understanding of business environment helps the managers to identify ‘threats’.” What is meant by ‘threats’ here?

Explain ‘Relativity’ as one of the characteristics of business environment.

State any one characteristic of demonetisation.

Which environment prohibits the advertisement of alcoholic beverages?

___________ means freeing of Indian industry from all unnecessary government controls and restrictions.

State any two impacts of change of government policy on business and industry.

Which environment describes characteristics of the society in which the organisation exists?

As a part of economic reforms, the Government of India announced New Economic Policy in __________.

_________ environment includes social forces like increasing number of working women.

What is Market Orientation Concept?

Just after declaration of Lok Sabha Elections 2009 results, the Bombay stock exchange's price index (Sensex) rose by 2100 points in a day. Identify the environmental factor which led to this rise.

What is demonetisation?

What is included in ‘Political Environment’ of business? State.

Give one example of liberalisation in India.

Give the name of environment that provides the framework, within which the business has to function?

What is Price Control?

Nothing can be said with any amount of certainty about the factors of the business environment.’ Why?

In order to survive and grow, public sector will have to be more efficient and generate their own resources for the purpose. Why is it so?

What is meant by Privatisation?

Define 'liberalisation' as a process of economic reforms in one sentence.

State four dimensions of business environment.

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

Mention any change initiated by the Government of India since 1991.

What is included in ‘legal environment' of business?

Give any one importance of business environment.

“The understanding of Business Environment enables the firm to identify opportunities.” What is meant by ‘opportunities’ here?