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.

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