Revision Notes For Class 12 Business Studies Chapter 3 Business Environment

Business Environment is the chapter that deals with how an enterprise functions and its work environment. This chapter comprises of various concepts – Business Environment, characteristic features of Business Environment – specific and general forces, dynamic nature, uncertainty and complexity, significance of Business Environment, dimensions of Business Environment, economic environment in India – Liberalisation, Privatisation and Globalisation, impact of government policy changes on business and industry – increasing competition, more demanding customers, world class technology, necessity for change, market orientation.

Frequently asked Questions on CBSE Class 12 Business Studies Notes Chapter 3: Business Environment

What are the benefits of globalisation?

1. Access to foreign cultures 2. Technological innovation 3. Improved living standards 4. Emergence of new talent 5. Higher standards of living

What is ‘Liberalisation’?

Removing the barriers or restrictions set by the government is known as liberalisation.

What are the dimensions of Business Environment?

1. Legal Environment.2.Political Environment.3. Economic Environment.4. Social Environment.5. Technological Environment.

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