Class 12 Business Studies - Chapter Business Environment NCERT Solutions | Discuss the impact of globalization on t
Discuss the impact of globalization on the business environment.
Globalization has transformed the business environment by creating a more interconnected and competitive marketplace. The major impacts include:
- Increased Competition: With globalization, businesses face competition from international players, leading to more innovation and efficiency as companies strive to maintain market share.
- Market Expansion: Globalization provides access to new markets, enabling businesses to expand their customer base and diversify revenue streams. Companies can now offer products and services to consumers across the world, reducing dependency on domestic markets.
- Supply Chain Optimization: Globalization allows businesses to optimize their supply chains by sourcing materials and labor from different countries, often at lower costs. This has led to more efficient production and distribution networks.
- Cultural Integration: Businesses operating in global markets must navigate cultural differences. This requires adapting marketing strategies, product offerings, and communication to meet the preferences and expectations of diverse consumer groups.
More Questions From Class 12 Business Studies - Chapter Business Environment
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How would you characterize the business environment? Explain with examples, the difference between general and specific environment.
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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. - Q:-
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.
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Why it is important for business enterprises to understand their environment? Explain.
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How would you argue that the success of a business enterprise is significantly influenced by its environment?
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Briefly discuss the impact of Government policy changes on business and industry.
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What economic changes were initiated by the Government under the Industrial Policy, 1991? What impact have these changes made on business and industry?
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What are the essential features of:
a. Liberalisation,
b. Privatization and
c. Globalisation? - Q:-
How does understanding of business environment help in improving performance of a business?
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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).
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