Dimension of Business Environment Class XII Business Studies

Today we will discuss about Dimension of Business Environment Class XII Business Studies. There are different forces fight we said specific forces when we talk about specific forces I said your customers your suppliers then your competitors and your investors. These are the specific forces external to the business organization but yet affect its functioning. Now we also mentioned that there are some general forces.

Dimension of Business Environment Class XII Business Studies

These are those general forces will be there about Dimension of Business Environment.

EconomicEnvironment: - Now economic environment it includes factors like rate of inflation demand and supply conditions. Rate of interest at which one gets the loan and economic policies etc prevalent in the market. Now let's say that if in the economy is in a state of a boom fine we're in everyone is earning quite a lot of money ticket purchasing power of people has also gone up. Now if the purchasing power of people has gone up you can afford to sell your commodities at a very very high price and people will be ready to pay that because their purchasing power has increased. But in a condition of depression you know products which are really high a highly price of which I believe steeply price they're not be able to do well. Because people would not be having the purchasing power to buy those products. Another example would be that if the rate of interest on home loans it increases it is directly going to affect the demand for home loans. It is directly going to affect the demand for home loans because people would not be ready to take these home loans on home loans Nyanja to indirectly affect. On demand of these property market may be decline or other rate of interest of home loans. But again clear so. This is about economic environment.
Social Environment: - Social environment it basically includes or consists of customs and traditions that are prevalent in a particular society. Then values then social trends and society's expectations. Now what are traditions, traditions are basically social practices that have lasted for decades or even centuries. For example Diwali is celebrated with great pomp and show almost you know all around the country. The Valley time is the time where in you have the sales for different products like electronics or gold ornaments and the other crockery items. It really goes up it really goes up so in a way because the value is celebrated with such a pomp and show fine. The business organizations fine they are in a phase of a boom. They are in a phase of boom because people buy in big quantities. Now it says a celebration of Diwali, Eid Christmas etc and India provides significant financial opportunities for greeting card, making companies sweet, confectionery, watch manufacturers etc. Similarly article you know there are alot of fitness freaks or there is people have become more health- conscious. So is say kiss go boom mil Gaya all those company which are making those health rings or the protein powder find because a Tzadik is play value, plays career on being more fit. Gymnasiums gyms find they are more in demand yoga instructors are more in demand aerobics are more in demand. So it has a you know direct bearing on that.
Technological Environment:- it includes factors related to technological advancements. Whatever technologic an improvements that are being made or innovations or inventions that are being made that also has a direct bearing on the business. How is that now with the introduction of your video tapes PK Palais America video tapes were courtesy VCRs were courtesy of Jessie CDs IPL AVC design. Thereafter they were replaced by DVDs fine. This is what this is a part of technological environment as soon as a better technology comes in the old one is rendered as it is becomes redundant becomes obsolete. You no longer want to use the obsolete technology. Earlier we used to have those projectors we would write on those transparent sheets we used to write it on that. And then the projection used to be made on the overhead projector. But now with the help of the other projector you can straight away connected to your laptop and the presentation can be shown clear. So as soon as this was introduced all right the puron. They have been swiped out of the business. Because they did not scan the environment properly they should have taken care of that these are the technological up gradation czar inventions or innovations that are coming up. So it is becomes necessary for them to adapt.
Political Environment: - Now political environment basically includes it includes political conditions such as stability of the government, peace in the country and attitudes of the elected representatives towards the business. Now it depends key geopolitical party app key force may hey. Let us say if we have a political party which is in force that we have to be self-reliant.