‘Singhal Printers Limited’ is a famous company of Printing Industry. Its main business is to print the Greeting Cards of Deepavali, Eid, Christmas, Gurpurb and other festivals. The Greeting Cards of this company are well known throughout India. The Government made such changes in its Tax Policy recently which have had a positive impact on the Printing Industry. One negative factor noticed with regard to this Industry is that now people have started preferring internet and mobile to Greeting Cards on festivals and other occasions. Similarly, it has also been noticed that in Printing Industry only those companies are earning profits which have adopted modern technology.
Recently, the new Central Government of the country decided to establish Industrial Estate in the name of Printing Club’ for the development of this industry. Also a decision to simplify the process of Industrial Disputes of Printing Industry in the country was taken. The Managing Director of ‘Singhal Printers Limited’ made a through study of the business environment. He arrived at the conclusion that the business environment is a group of not one but several factors. All these factors affect business in some or the other form. Business has no control over them. Business has to mould itself in accordance with them. The companies which follow this principle stay in the market for a long time and the remaining ones disappear from the market gradually.
a. Identify the different dimensions of business environment described in the paragraphs given above by quoting the relevant lines.
b. Which particular feature of business environment is being hinted/referred to here?