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NIBM GLOBAL
THIRD SEMESTER MBA
Subject : Business Environment
Attend any 4 questions. Each question carries 25 marks
(Each answer should be of minimum 2 pages / of 300 words)
Question. 1. Explain the chief characteristics of Business as a Social System.
Question. 2. Discuss the main features of communism.
Answer: Communism is an economic system where the group owns the factors of production. In countries, the government represents the group. The means of production are labor, entrepreneurship, capital goods, and natural resources.1 Although the government doesn’t legally own the labor force, the central planners tell the people where they should work. German philosopher Karl Marx developed the theory of communism.
State Ownership
The state owns all capital in a
Question. 3. What are the objectives of Business? Explain.
Answer: Your business objectives are the results you hope to achieve as you run and grow your business. As an entrepreneur, you are concerned with every aspect of your business and need to have clear goals in mind for your company if you are to stay on track. Having a comprehensive list of business objectives creates the guidelines that become the foundation for your business planning.
1. Getting and Staying Profitable
Maintaining profitability means making sure that revenue stays ahead of the costs of doing business. Focus on controlling costs in both production and operations while maintaining the profit margin on products sold.
Question. 4. What are administrative organisation objectives for corporate guidance? Explain.
Question. 5. Describe the key factors of Environment.
Answer: If a business wants to be successful in the marketplace, it is necessary for them to fully understand what factors exert impact on the development of their company. Once they know about both positive and negative effects within and outside the company, they can produce suitable strategies to handle any predicted situation. Therefore, examining internal and external factors is considered the most important task for an enterprise before launch any strategic marketing plan.
The Importance of Business Environment Understanding
Because business environment inserts its impacts on business success, scale, vision, and development strategy, having fully understanding about this issue should be prioritized by leaders.
Once they know about both
Question. 6. What is Management by Objectives (MBO)? Explain.
Answer: An effective management goes a long way in extracting the best out of employees and make them work as a single unit towards a common goal.
The term Management by Objectives was coined by Peter Drucker in 1954.
What is Management by Objective ?
The process of setting objectives in the organization to give a sense of direction to the employees is called as Management by Objectives.
It refers to the process of setting goals for
25 x 4=100 marks
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