Question : Which of the following about the impact of economic reforms of the businesses is incorrect?
Option 1: Firms used to follow production oriented approach.
Option 2: PSU have realised that they need to improve their performance otherwise it would leads to disinvestment.
Option 3: The market forces have become trubulent and enterprises have to continuously modified their operations and policies.
Option 4: All of the above are correct.
Correct Answer: Firms used to follow production oriented approach.
Solution : With the increasing competition the firm has shifted to market oriented approach, i.e., study and analyse the need of the market first and then produce goods and services to satisfied the needs of the customers. Hence Option A is correct.
Question : Case Study 3:
PQR Enterprises is a retail company that has been affected by changes in government policies related to taxation. The company needs to adapt its operations to comply with the new policies and minimize the impact on its profitability.
Q:- How can PQR Enterprises adapt to the changes in government policies?
Option 1: By seeking government subsidies
Option 2: By finding alternative suppliers
Option 3: By implementing cost-cutting measures
Option 4: By diversifying into unrelated businesses
Q:- What is the business environment factor affecting PQR Enterprises in this case?
Option 1: Economic environment
Option 2: Technological environment
Option 3: Government policies
Option 4: Social environment
Option 4: By diversifying into unrelated businessescu
Regular exam updates, QnA, Predictors, College Applications & E-books now on your Mobile