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People were confined inside during the lockdown due to the coronavirus outbreak. So, the food that had been ordered from the market outside started to be made at home. Although now that people are accustomed to it, this practise has mostly impacted different market industries.
Determine which aspect of the corporate environment is highlighted in the aforementioned instance.
Determine which aspect of the corporate environment is highlighted in the aforementioned instance.
- a)Economic Environment
- b)Social Environment
- c)Technological Environment
- d)Legal Environment
Correct answer is option 'B'. Can you explain this answer?
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Most Upvoted Answer
People were confined inside during the lockdown due to the coronavirus...
Social Environment
The highlighted aspect in the given instance is the social environment. The social environment refers to the influence of society and social relationships on businesses and their operations. In this case, the lockdown due to the coronavirus outbreak led people to stay confined inside their homes, resulting in a shift towards making food at home instead of ordering from outside markets. This change in consumer behavior was driven by social factors such as the need to stay safe, avoid crowded places, and follow social distancing guidelines.
Impact on Market Industries
The shift towards making food at home had a significant impact on various market industries. Businesses that were heavily reliant on outside food orders, such as restaurants, cafes, and food delivery services, experienced a decline in demand. On the other hand, industries related to home cooking, such as grocery stores, online food delivery services, and kitchen appliance manufacturers, saw an increase in demand. This change in consumer behavior highlighted the interconnectedness of businesses with the social environment and the need for businesses to adapt to changing societal trends.
Conclusion
Overall, the shift towards making food at home during the lockdown due to the coronavirus outbreak exemplifies how changes in the social environment can have a profound impact on businesses and industries. Adapting to these changes and understanding consumer behavior in the context of societal trends is crucial for businesses to thrive in a constantly evolving corporate environment.
The highlighted aspect in the given instance is the social environment. The social environment refers to the influence of society and social relationships on businesses and their operations. In this case, the lockdown due to the coronavirus outbreak led people to stay confined inside their homes, resulting in a shift towards making food at home instead of ordering from outside markets. This change in consumer behavior was driven by social factors such as the need to stay safe, avoid crowded places, and follow social distancing guidelines.
Impact on Market Industries
The shift towards making food at home had a significant impact on various market industries. Businesses that were heavily reliant on outside food orders, such as restaurants, cafes, and food delivery services, experienced a decline in demand. On the other hand, industries related to home cooking, such as grocery stores, online food delivery services, and kitchen appliance manufacturers, saw an increase in demand. This change in consumer behavior highlighted the interconnectedness of businesses with the social environment and the need for businesses to adapt to changing societal trends.
Conclusion
Overall, the shift towards making food at home during the lockdown due to the coronavirus outbreak exemplifies how changes in the social environment can have a profound impact on businesses and industries. Adapting to these changes and understanding consumer behavior in the context of societal trends is crucial for businesses to thrive in a constantly evolving corporate environment.
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People were confined inside during the lockdown due to the coronavirus...
The highlighted aspect of the corporate environment in the aforementioned instance is the Social Environment.
The social environment refers to the factors and influences related to society and human interactions that affect the business environment. In this case, the practice of ordering food from outside and then shifting to making food at home during the lockdown highlights the impact on different market industries due to changes in people's social behavior.
The social environment includes factors such as cultural norms, consumer behavior, social trends, and lifestyle changes. The shift to making food at home reflects changes in consumer behavior and lifestyle due to the lockdown. This change in behavior directly affects industries such as restaurants, food delivery services, and other related market sectors. The demand for ordering food from outside decreased, and people started cooking at home, leading to a decline in sales and revenue for businesses in the food industry.
Therefore, the social environment is the aspect of the corporate environment that is highlighted in this instance.
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People were confined inside during the lockdown due to the coronavirus outbreak. So, the food that had been ordered from the market outside started to be made at home. Although now that people are accustomed to it, this practise has mostly impacted different market industries.Determine which aspect of the corporate environment is highlighted in the aforementioned instance.a)Economic Environmentb)Social Environmentc)Technological Environmentd)Legal EnvironmentCorrect answer is option 'B'. Can you explain this answer?
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People were confined inside during the lockdown due to the coronavirus outbreak. So, the food that had been ordered from the market outside started to be made at home. Although now that people are accustomed to it, this practise has mostly impacted different market industries.Determine which aspect of the corporate environment is highlighted in the aforementioned instance.a)Economic Environmentb)Social Environmentc)Technological Environmentd)Legal EnvironmentCorrect answer is option 'B'. Can you explain this answer? for UGC NET 2024 is part of UGC NET preparation. The Question and answers have been prepared according to the UGC NET exam syllabus. Information about People were confined inside during the lockdown due to the coronavirus outbreak. So, the food that had been ordered from the market outside started to be made at home. Although now that people are accustomed to it, this practise has mostly impacted different market industries.Determine which aspect of the corporate environment is highlighted in the aforementioned instance.a)Economic Environmentb)Social Environmentc)Technological Environmentd)Legal EnvironmentCorrect answer is option 'B'. Can you explain this answer? covers all topics & solutions for UGC NET 2024 Exam. Find important definitions, questions, meanings, examples, exercises and tests below for People were confined inside during the lockdown due to the coronavirus outbreak. So, the food that had been ordered from the market outside started to be made at home. Although now that people are accustomed to it, this practise has mostly impacted different market industries.Determine which aspect of the corporate environment is highlighted in the aforementioned instance.a)Economic Environmentb)Social Environmentc)Technological Environmentd)Legal EnvironmentCorrect answer is option 'B'. Can you explain this answer?.
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