Krishna Furnishers Mart started its operations in the year 1954 and emerged as the market leader in the industry because of their original designs and efficiency in operations. They had a steady demand for their products but over the years, they found their market share declining because of new entrants in the field. The firm decided to review their operations and decided that in order to meet the competition, they need to study and analyze the market trends and then design and develop their products accordingly. List any two impacts of changes in business environment on Krishna Furnishers Mart's operations. (Hint: increase in competition and Market orientation).

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Solution

The impacts of changes in business environment on Krishna Furnishers Mart's operations are:

Increased competition

Necessity for change

Market orientation

Innovation in designs (any two)

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The impacts of changes in business environment on Krishna Furnishers Mart's operations are: Increased competition Necessity for change Market orientation Innovation in designs (any two)

The impacts of changes in business environment on Krishna Furnishers Mart's operations are:

Increased competition

Necessity for change

Market orientation

Innovation in designs (any two)