The court passed an order that all schools must have water purifier for the school children as
(i) Society in general is more concerned about quality of life.
(ii) Innovative techniques are being developed to manufacture water purifier at competitive y rates.
(iii) Incomes are rising and children at home are also drinking purified water.
(iv) The government is also showing positive attitude towards the water purifier business.
Identify the different dimensions of business environment by quoting from the above details.
The different dimensions of business environment from the above details are as follows:
(i) ‘The court passed an order that all schools must have water purifier’. The quoted line is depicting legal environment. Business has to function within the framework of laws and regulations of the country. Legal environment exercises significant influence on business activities.
(ii) ‘Society in general is more concerned about quality of life’. The quoted line is depicting the social environment as this environment consists of all the social and cultural forces within which business firms operate.
(iii) ‘Innovative techniques are being developed to manufacture water purifier at compe¬titive rates’ The quoted line is depicting the technological environment. It includes forces relating. to scientific improvements and innovations which provide new ways of producing goods and services.
(iv) 'Incomes are rising and children at home are also drinking purified water.'
The quoted line is depicting the economic environment. It consists of the factors and forces concerning means of production and distribution of wealth. It includes all such forces of economic development which influence the product’s market scope o£ business. Children drinking purified water also depicts the social change towards health consciousness.
(v) ‘The government is also showing positive attitude towards the water purifier business.’ The quoted line is depicting the political environment. It is concerned with the forces related to political stability and conditions that have strong impact on business.