Which among the following is not a correct sequential combination ?
Macro Environment → External Environment → Customers → Prospects of Business Development
The business environment is divided into the internal environment (factors within the firm) and the external environment. The external environment in turn has a micro environment (suppliers, customers, competitors, intermediaries, publics) and a macro environment (economic, political, legal, social, technological and natural forces). A correct chain must move from a broader layer to a narrower one.
Macro Environment → Economic Environment → National Income → Pattern of Income Distribution is correct: the economic environment is a part of the macro environment, national income is an economic indicator, and the distribution of income is an aspect of national income.
Business Environment → Internal Environment → Business Ethics → Payment of Fair Wages is correct: ethics and values form part of the internal environment, and paying fair wages is an ethical practice.
Business Environment → External Environment → Micro Environment → Suppliers is correct: suppliers are a micro environment force within the external environment.
Macro Environment → External Environment → Customers → Prospects of Business Development is not correct. The macro environment is itself a part of the external environment, so the order is reversed, and customers belong to the micro environment, not the macro environment.
Hence, Macro Environment → External Environment → Customers → Prospects of Business Development.
Similar Questions
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(i) Business ethics and moral standards
(ii) Business and managerial policies
(iii) Prospects of business development
(iv) Government rules and regulations
(v) Industrial relations
Codes :
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Which of the following is not a ‘force’ in the “Porter Five Forces Model” ?
Important Questions from Concepts and elements of business environment
Which of the following is NOT an external factor acting as a barrier to entrepreneurship?
There are various impacts of government policy changes on business and industry. Out of the following options, which is NOT true about the given statement?
For the following two statements regarding infrastructural services in the country, choose the correct code for the statements being correct or incorrect.
Statement I: Most infrastructure services are provided by public monopolies which generally suffer with severe problems like lack of accountability, low productivity, poor financial performance and over-employment.
Statement II: There is a need now to induce more private sector investment and participation in sharing, accountability, monitoring and management of infrastructure sector.
Given below are two statements, one labelled as Assertion (A) and the other labelled as Reason (R). Read the statements and choose the correct answer using the code given below.
Assertion (A): The multilateral trading system is an attempt by governments to make the business environment stable and predictable.
Reason (R):Promising not to raise trade bathers can be as important as lowering one, because the promise gives businesses a clearer view of their future market opportunities.
Match List I with List II
List I
List II
(a)
Size of the market
(i)
Globalization of business
(b)
Demographic environment
(ii)
Foreign trade policy
(c)
Export-oriented units
(iii)
Macro - environment
d)
Multinational corporations
(iv)
Non - economic environment
Choose the correct option from those given below
