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Inequality in Markets

Mr. Bali, the...

Question

Mr. Bali, the Production manager of Classic Ltd. is successful running his department. He has created such an environment that no one becomes hurdle in anybody's work, but all of them are ready CO help each Other. Mr. Bali has been observing a change in market for last few days. In the past they used to produce goods according to their will and with a bide bit of effort could sell them. But not they have to produce goods as desired by the people. When Mr. Bali investigated to know the reasons for this change, he came to know that on account of positive policies of the government, running the business had become easy. Due to this, several new people bad entered the business. Consequently, competition has increased and now the control of the market had slipped, out of the hands of producers into the hands of customers.
(a) Identify the concept of management described here? Give two points of its importance.
(b) Identify the business environment dimension and the concept there of.

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Solution

(a) Coordination
(b) Economic environment and Liberalisation

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