Interview Questions.

Q1. What Do You Mean By Consumerism? Give Two Rights Of The Consumer?

Consumerism is the motion seeking to shield and inform clients by requiring such practices as honest packaging and advertising and marketing, product guarantees and stepped forward safety requirements. Rights of the client are :

Right towards exploitation via unfair trade practices.

Right to safety of fitness and protection from the goods and offerings the consumers purchase or are offered unfastened.
 

Q2. What Kind Of External Factors Influence The Process Of Business Enterprises?

The external elements are by means of and large, past the manipulate of a company. The outside or environmental factors together with the financial factors, socio-cultural factors, government and felony elements, demographic factors, geo-bodily factors, and so on., have an effect on the process of enterprise firms.

Q3. What Do You Mean By Micro Environment?

The micro environment includes the factors in the company’s on the spot environment that impacts the overall performance of the business enterprise. These include the suppliers, marketing intermediaries, competitors, clients and the general public.

Q4. Why Are Internal Factors Of A Business Enterprise Regarded As Controllable Factors?

The inner factors are commonly appeared as controllable elements because the enterprise has manage over those factors; it is able to adjust or adjust such elements as its employees, physical centers, company and practical me, inclusive of advertising blend, to suit the environment.

Q5. What Is Environmental Analysis?

Environmental evaluation is defined as “the system by using which strategists display the economic, governmental/prison, marketplace/aggressive, dealer/technological, geographic, and social settings to determine possibilities and threats to their firms.

Q6. Define Business Environment?

The totality of all people, establishments and other forces which are out of doors a commercial enterprise organization but which can have an effect on its functioning and performance.

Q7. List Any Two Elements Of Political Environment?

Political idedogy & practices of the ruling pa1ty

Nature of relationship of our united states with overseas countries
 

Q8. What Do You Mean By Socialism?

Socialism is usually understood as an monetary system where the me of manufacturing are both owned or controlled by the nation and in which the useful resource allocation, funding sample, consumption, income distribution, and so on. Are directed and controlled via the nation.

Q9. Which Environment Describes Characteristics Of The Society In Which The Organization Exists?

Social Environment

Q10. What Do You Mean By Demarketing?

Demarketing refers back to the method of cutting patron call for for a product back to degree that may be provided by means of the firm. Some oil corporations—the Indian Oil Corporation, for instance—have publicized recommendations on the way to cut oil intake.

When the fertilizer price shot up following the oil disaster, some fertilizer companies appealed to the farmers to use fertilizers simplest for important and remunerative plants. The significance of herbal manure like compost instead for chemical fertilizers changed into also emphasized.

Q11. Mention Some Of The Important Environmental Forces Which Drive Companies Towards Adopting The Marketing Concept?

There are certain environmental forces which drive corporations towards adopting the marketing concept. These forces generally tend to make the survival of the companies otherwise tough. Important among those forces are:

growth of consumerisms and environmentalism;

call for for social justice;

government rules; and

converting competitive environment.

Q12. What Are The Utilities Of Consumerism?

Well-prepared and dynamic consumerism can be expected to produce the subsequent effects:

Producers and dealers will now not take the consumer with no consideration.

Consumerism will provide feedback for the commercial enterprise.

Producers could be able to enlist the guide of customers to minimise the imperfections at the distribution front.

Consumerism will make the authorities extra responsive to purchaser pastimes, prompt it to take essential statutory measures, and make the desired institutional arrangements to guard customer rights.
 

Q13. What Is Market Socialism?

Market socialism is characterized in most cases by way of the public possession of the me of manufacturing. Decisions on the subject of the allocation of resources are made each together and by way of person producing and ingesting gadgets. Prices and markets are the number one mechanisms used to facilitate the trade of products. The Yugoslav financial system contains a few of the elements of marketplace socialism.

Q14. Give One Importance Of Business Environment?

It enables the company to discover possibilities & getting the primary movers benefits

Q15. Mention Some Important Determinants Of Business Strategies.

The financial conditions of a country—for instance, the character of the economic system, the degree of improvement of the economic system, economic assets, the level of profits, the distribution of profits and property, and so on—are most of the very essential determinants of commercial enterprise strategies.

Q16. What Is Environmental Diagnosis?

“Environmental prognosis consists of managerial choices made via analysing the importance of the statistics (possibilities and threats) of the environmental evaluation.”

Q17. What Are The Drawbacks Of Unregulated Capitalism?

Unregulated capitalism suffers from certain drawbacks:

As funding allocation is guided with the aid of the profitability criterion, enough funding won't take vicinity in areas in which profitability is low, but vital they will be.

The right to property and freedom of company are possibly to cause awareness of income and wealth and the widening of interpersonal earnings disparities.

Though, consistent with the concept, there may be unfastened competition, inside the actual global the large firms are likely to benefit an fantastic role which might sooner or later result in monopolies.
 

Q18. What Do You Mean By Business Environment And Economic Environment Respectively?

Business environment refers back to the totality of all the factors which can be outside and out of manipulate of an character, commercial enterprise corporation and their control. The maximum vital elements are socio-financial, technological, providers, competition and authorities.

The monetary conditions along with, the nature of the economy, the level of improvement of the economic system, economic sources, the level of earnings, the distribution of earnings and property and so forth., all mean monetary surroundings.

Q19. How Have Customers Benefited By Increased Competition After Liberalisation And Globalisation?

At the time of purchase customers get a much broader choice of products and services They can examine high-quality of the goods.

Q20. Mention The Socio-cultural Fabric As An Important Environmental Factor That Should Be Analysed While Formulating Business Strategies?

The socio-cultural fabric is an crucial environmental component that should be analysed whilst formulating business strategies. The value of ignoring the customs, traditions, taboos, tastes and preferences, and so forth., of a human beings could be very excessive.

The shopping for and intake habits of the humans their language, beliefs and values, customs and traditions, tastes and possibilities, education are all factors that have an effect on enterprise.

Q21. What Demographic Factors Are Relevant To Business?

Demographic elements like the size, boom fee, age composition, intercourse composition, and so on. Of the populace, own family length, monetary stratification of the population, academic, tiers, language, caste, religion, etc are the elements which can be applicable to commercial enterprise.

Q22. What Are The Drawbacks Of The Totalitarian Socialism?

Some drawbacks of the totalitarian socialism are:

Civil liberties are suppressed.

There isn't any consumer sovereignty.

There is a constrained scope for accommodating one of a kind views and making critical critiques.

As personal employer isn't allowed to function, the capabilities of the country are not fully utilised.

People might also lack incentive to paintings difficult within the absence of personal assets.

The absence of freedom of choice of career is undemocratic.
 

Q23. What Is Meant By The Capitalist System?

The capitalist device is one characterized by means of the private ownership of the me of production, individual decision making, and using the marketplace mechanism to perform the decision of character contributors and facilitate the go with the flow of products and offerings in markets.

Q24. What Do You Understand By Free Market Economy?

The unfastened market economy is not deliberate, controlled or regulated with the aid of the authorities. The government satisfies network or collective wants, however does no longer compete with non-public companies; nor does it inform the humans where to work or what to produce.

The completely loose market economy, but, is an summary machine in place of a actual one Today, even the so-called market economies just like the United States, Japan, Australia, Canada and member countries of the EEC are situation to some of government guidelines.

Q25. Mention Some Of The Salient Features Of A Socialist System?

The salient features of a socialist system are:

The primary me of production are both owned by the Government or their use is managed with the aid of the Government.

Existence of a central authority like the imperative planning employer to formulate the national plan for development and to direct resource mobilization, allocation and funding to achieve the plan objectives.

The customers have to content themselves with what the state thinks is enough for them.

The freedom of occupation is absent or limited.

The salary prices and expenses are fixed by way of the Government and now not by way of marketplace forces.

An equitable distribution of earnings.
 

Q26. What Is Command Economy?

The command economic system is characterized by means of public possession of the me of manufacturing, collective dedication of economic decisions, and the allocation of assets by instructions issued by way of the planning elite. The primary feature of the command economic system is the centralization of decision-making. There is no horizontal conversation among generating and ingesting gadgets. All communication is vertical, i.E., among the individual financial unit and the making plans organisation.

Q27. How Can The Firms Cope Up With Changing Technological Environment?

They must put money into R & @product innvovations and expand new approaches

Q28. What Are The Important External Factors That Constitute The Economic Environment Of A Business?

Economic situations, financial rules and the monetary system are the essential outside factors that represent the economic environment of a enterprise.