IGNOU MS-03 Solved Assignment 2015

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IGNOU MS-03 (Economic and Social Environment) Solved Assignment January 2015 Preview

Course Code : MS-03
Course Title : Economic and Social Environment
Assignment Code : MS-03/TMA/SEM-I/2015
Coverage : All Blocks

Note : Attempt all questions and submit this assignment on or before 30th April, 2015 to the coordinator of your study centre.

1. Explain environment of business in detail and examine the interaction between economic environment and business management giving suitable examples.

Ans.: Decisions made by managers are crucial to the success or failure of a business. Roles played by business managers are becoming increasingly more challenging as complexity in the business world grows. Business decisions are increasingly dependent on constraints imposed from outside the economy in which a particular business is based—both in terms of production of goods as well as the markets for the goods produced. The impact of rapid technological change on innovation in products and processes, as well as in marketing and sales techniques, figures prominently among the factors contributing to the increasing complexity of the business environment. Moreover, because of increased globalization of the marketplace, there is more volatility in both input and product prices. The continuous changes in the economic and business environment make it ever more difficult to accurately evaluate the outcome of a business decision.....

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