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Business Studies

Technological Environment

Nowadays, we ...

Question

Nowadays, we can book tickets through the internet. Identify the dimension.

A

Economic environment

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B

Social environment

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C

Political environment

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D

Technological environment

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Solution

The correct option is D
Technological environment

Technological environment means forces relating to scientific improvement and innovation. Booking tickets online is a result of improvement in communication technology with the advent of the internet.

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Economic environment and social environment are examples of ___

Q. Very Short Answer Question:
How is economic environment different from social environment?

Q. "It may be difficult to know the extent of the relative impact of the social economic, political, technological or legal factors on change in demand of a product in the market." Which feature of business environment highlighted by this point?

Q. Naman and Govind after finishing their graduation under vocational stream decided to start their own travel agency which will book Rail Tickets and Air Tickets on commission basis. They also thought of providing tickets within ten minutes through the use of internet. They discussed the idea with their Professor Mr. Mehta who liked the idea and suggested them to first analyse the business environment which consists of investors, competitors and other forces like social, political, etc., that may affect their business directly or indirectly. He further told them about the technological improvements and shifts in consumer preferences that were taking place and hence they should be aware of the environmental trends and changes which may hinder their business performance. He emphasised on making plans keeping in mind the threat posed by the competitors, so that they can deal with the situation effectively. This alignment of business operations with the business environment will result in better performance.
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