Dimension of Business Environment Video Lecture | Business Studies CUET Preparation - Commerce

now coming to the dimensions of business
environment right I mentioned at the
beginning of the lecture that there are
different forces fight we said specific
forces when we talk about specific
forces I said your customers your
suppliers then your competitors and your
investors these are the specific forces
external to the business organization
but yet affect its functioning now we
also mentioned that there are some
general forces right
these are those general forces right
will be there about five dimensions to
business environment first one being
economic environment now economic
environment it includes factors like
rate of inflation demand and supply
conditions rate of interest at which one
gets the loan and economic policies etc
prevalent in the market now let's say
that if in the economy economy is in a
state of a boom fine
we're in everyone is earning quite a lot
of money ticket purchasing power of
people has also gone up right now if the
purchasing power of people has gone up
you can afford to sell your commodities
at a very very high price and people
will be ready to pay that because their
purchasing power has increased right but
in a condition of depression you know
products which are really high a highly
price of which I believe steeply price
they're not be able to do well because
people would not be having the
purchasing power to buy those products
okay another example would be that if
the rate of interest on home loans it
increases it is directly going to affect
the demand for home loans it is directly
going to affect the demand for home
loans because people would not be ready
to take these home loans on home loans
Nyanja to indirectly affect Auriga on
demand of these property property market
maybe decline or Jagga other rate of
interest of home loans but again clear
so this is about economic environment
right all right then coming to next that
is your social environment social
environment it basically includes or
consists of customs and traditions that
are prevalent in a particular society
then values then
social trends and society's expectations
now what are traditions traditions are
basically social practices that have
lasted for decades or even centuries
right for example Diwali is celebrated
with great pomp and show almost you know
all around the country right and the
Valley time is the time wherein you have
the sales for different products like
electronics or gold ornaments and the
other crockery items it really goes up
it really goes up so in a way because
the value is celebrated with such a pomp
and show fine
the business organizations fine they are
in a phase of a boom they are in a phase
of boom because people buy in big
quantities Lok Sabhas Adhikari thay as a
result fiber cascada to businessmen
right now it says a celebration of
Diwali eath Christmas etc and India
provides significant financial
opportunities for greeting card making
companies sweet confectionery watch
manufacturers etc right
similarly article you know there are a
lot of fitness freaks or there is people
have become more health-conscious
so is say kiss go boom mil Gaya all
those company which are making those
health rings or the protein powder find
because a Tzadik is play value plays
career on being more fit gymnasiums gyms
find they are more in demand yoga
instructors are more in demand aerobics
are more in demand so it has a you know
direct bearing on that ok then coming to
technological environment it includes
factors related to technological
advancements fine whatever technological
improvements that are being made or
innovations or inventions that are being
made that also has a direct bearing on
the business how is that now now with
the introduction of your video tapes PK
Palais America videotapes were courtesy
VCRs were courtesy of Jessie CDs IPL AVC
design thereafter they were replaced by
DVDs fine so this is what this is a part
of technological environment as soon as
a better technology comes in the old one
is rendered as it is becomes redundant
becomes obsolete so you no longer want
to use the obsolete technology okay
earlier we used to have those projectors
we would write on those transparent
sheets we used to write it on that fine
and then the projection used to be made
on the overhead projector okay but now
with the help of the other projector you
can straight away connected to your
laptop and the presentation can be shown
clear so as soon as this was introduced
all right the puron Oval Office become
obsolete the Joby lobe
Kuzco Meredith a they have been swiped
out of the business all right
or as a cue wa because they did not scan
the environment properly they should
have taken care of that these are the
technological upgradation czar
inventions or innovations that are
coming up so it is becomes necessary for
them to adapt okay next is political
environment now political environment
basically includes it includes political
conditions such as stability of the
government peace in the country and
attitudes of the elected representatives
towards the business now it depends key
geopolitical party app key force may hey
you ski ideology caja fine now let us
say if we have a political party which
is in force
yoki voltea that we have to be
self-reliant however as a question arena
we do not believe in any imports and
exports
you