Class 12 Business Studies - Chapter Business Environment NCERT Solutions | Explain the following terms: a. Liberal

How would you characterize the business environment? Explain with examples, the difference between general and specific environment.

The government of India announced Demonetization of ₹ 500 and ₹ 1,000 currency notes with effect from the midnight of November 8, 2016. As a result, the existing ₹ 500 and ₹ 1,000 currency notes ceased to be legal tender from that date. New currency notes of the denomination of ₹ 500 and ₹ 2,000 were issued by Reserve Bank of India after the announcement.

This step resulted in a substantial increase in the awareness about and use of Point of Sale machines, e-wallets, digital cash and other modes of cashless transactions. Also, increased transparency in monetary transactions and disclosure led to a rise in government revenue in the form of tax collection.

a. Enumerate the dimensions of the business environment highlighted above.
b. State the features of Demonetization.

National Digital Library of India (NDL India) is a pilot project initiated by the HRD ministry. It works towards developing a framework of virtual repository of learning resources with a single-window search facility. It provides support to all academic levels including researchers, life-long learners and differently-abled learners free of cost. State the dimensions of business environment highlighted above.

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

How would you argue that the success of a business enterprise is significantly influenced by its environment?

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

What are the essential features of:
a. Liberalisation,
b. Privatization and
c. Globalisation?

What economic changes were initiated by the Government under the Industrial Policy, 1991? What impact have these changes made on business and industry?

How does understanding of business environment help in improving performance of a business?

Give an example to show that a business firm operates within numerous inter related factors constituting the business environment.(Hint: example highlighting the inter relatedness of dimensions of business environment).

How does planning provide direction?

What is meant by staffing?

Identify the network of social relationships which arises spontaneously due to interaction at work.

What is informal communication?

State the meaning of controlling.

What is meant by capital structure?v

What is meant by management?

What is a Treasury Bill?

State any two advantages of branding to marketers of goods and services?

What makes principles of management flexible?

In an organisation, one of the departmental manager is inflexible and once he takes a decision, he does not like to be contradicted. As a result, employees always feel they are under stress and they take least initiative and fear to express their opinions and problems before the manager. What is the problem in the way authority is being used by the manager?

Explain the concept of formal and informal organization with their significance.

Describe the functions of management.

Identify and state the force that binds all the other functions of management.

Explain how management is both an art and a science.

State any two reasons why investing public can expect a safe and fair deal in the stock market. (Point w.r.t safety of Transactions – Functions of the Stock Exchange).

What is the meaning of directing in management?

“A capital budgeting decision is capable of changing the financial fortunes of a business.” Do you agree? Give reasons for your answer?

“A successful enterprise has to achieve its goals effectively and efficiently.” Explain.

In an attempt to cope with Reliance Jio’s onslaught in 2018, market leader Bharti Airtel has refreshed its ₹ 149 prepaid plan to offer 2 GB of 3G/4G data per day, twice the amount it offered earlier. Name the type of plan is highlighted in the given example. ? State its three dimensions also.