(a) What dimension of the business environment are we talking about here? Explain it briefly. The dimensions or actors that make up the business environment include the economic, social, legal, technological and political circumstances that are duly taken into account for decision-making and the improvement of the realization of the commercial enterprise. Unlike the exact environment, these aspects manifest the dominant environment, which often affects many companies at the same time. However, the management of any company can benefit from being informed about these dimensions instead of being impartial in them. Here is a brief argument of the many factors that make up the company`s global environment: (i) The court issued an order requiring all schools to have a water purifier for students. i) The court issued an order banning polyethylene bags because these bags cause many environmental problems that affect people`s lives in general. (II) Society is generally more concerned about quality of life. (v) The government is also showing a positive attitude towards the water purifier sector. Example: E-commerce has changed the scenario of doing business, buying goods and using services at the click of a mouse or through the government`s Digital India mobile initiative, evolving into a paperless society. Example: An increase in people`s disposable income due to a reduction in tax rates in a country creates greater demand for products. Example: Political stability and the central government`s attitude towards business, industry and employment have led many domestic and international entrepreneurs to invest in India. Example: The labour laws followed by companies help them avoid penalties. (III) Innovative techniques will be developed to produce water purifiers at competitive prices.
Identify the different dimensions of the business environment by citing the details above. (Delhi 2013) IV) Incomes are increasing and children at home are also drinking purified water. (III) The Government has decided to grant subsidies to the jute industry to promote this activity. v) Incomes are rising and people can afford to buy these bags. b) What else should Manmohan do to grow his business? (suggest two) (4) It should sell its products at reasonable prices in order to maintain and increase its market share.