A2zNotes.com -Best Bcom BBA Bed Study Material

MBA 1st Year Social Cultural and Competitive Environment Short Question Answer

MBA 1st Year Social Cultural and Competitive Environment Short Question Answer :- In this Post you will find MBA 1 year related to important questions related to the answer such as the Economic Political Legal Business Answer and many other important questions. Very Short Questions are answer in English Section B

Section B

MBA 1st Year Social Cultural and Competitive Environment Short Question Answer
MBA 1st Year Social Cultural and Competitive Environment Short Question Answer


Q.1. What is socio-cultural environment? Ans. Socio-cultural Environment: Socio-cultural en fecting a business and includes social traditions, value ethical standards and state of society, the extent of soc d so forth.

Socio-cultural environment consists of factors relate to human relationships and the impact of social attiudes and cultural values on the business of the organisation.

The beliefs, values and norms of a society determine how individuals and organisations should be

The core beliefs of a particular society tend to be rigid. It is difficult for businesses to change these core values, which become a determinant of its functioning. Some of the important factors and influences operating in this environment are as follows:

1. Social concerns, such as the role of business in society, environmental pollution, corruption, use of mass media and consumerism. 

2. social attitudes and values, such as expectations of society from business, social customs, beliefs, rituals and practices, changing lifestyle patterns and materialism. 

Family structure and the changes in its attitude towards and within the family and family values.

Role of women in society, position of children and adolescents in family and society. 

Q.2. What are the effects of socio-culture on business?

Ans. The Effects of Socio-culture on Business: Businesses do not exist in a vacuum and even the most successful business must be aware of changes in the cultures and societies in which it does Dumness. AS Society and culture change, businesses must adapt to stay ahead of their competitors and stay relevant in the minds of their consumers. Various effects of socio-culture are:

1. Changing Preferences: A major socio-cultural factor influencing businesses and business decisions is changing consumer preferences. What was popular and fashionable 20 years ago may not be popular today or 10 years down the road. Different styles and priorities can undermine long successful products and services. For example, a clothing company must constantly be aware of changing preferences when creating new products or it will quickly become outdated.

2. Demographics: Changes in demographics are also a significant factor in the business world. As populations age, for example, markets for popular music and fashions may shrink while markets for luxury goods and health products may increase. Additionally, changes in the proportion of genders and different racial, religious and ethnic groups within a society may also have a significant impact on the way a company does business.

3. Advertising Techniques: Advertising is perhaps the area of business most closely in touch with socio-cultural changes. Advertising often seeks to be hip and trendsetting, and to do this, advertising agencies and departments cannot lose track of the pulse of societies in which they engage in business. Changes in morals, values and fashions must all be considered when creating outward facing advertising.

4. Internal Environment: In addition to a company’s interactions with the market and its customers, socio-cultural factors also impact a company’s internal decision-making process. For example, changing gender roles and increasing emphasis on family life have led to increased respect for maternity and even paternity leave with organisations. Additionally, attitudes towards racial discrimination and sexual harassment have changed drastically over the years as a result of sociocultural change.

MBA 1st Year Social Cultural and Competitive Environment Very Short Question Answer Model Paper

Q.3. What is the impact of globalisation on Indian business culture?

Ans. Impact of Globalisation on Indian Business Culture: The Indian economy had been booming for the past few years. The country held great promise for the future. Liberalised foreign policies had unleashed the entrepreneurial spirit of its people and many multi-national firms, attracted by the dusty plains of Deccan, had already set up big offices throughout the nation.

The foreign culture can have both positive and negative influence on people and business firms. New ways of thinking and working may develop leading to higher efficiency. A few examples of impact of foreign culture on business practices are given below:

1. Indian companies adopting international accounting standards. 

2. Just-in-time and other more efficient techniques of inventory control. 

3. Flexitime and new practices of human resource management 

4. Social responsibility and business ethics ideas. 

5. Improvement in corporate governance practices. 

6. Customer relationship management practices.

7. Inflow of foreign funds. 

8. Healthy competition with foreign products. 

The business sector in India is highly promising in the present scebario. The impact of globaliation has changed the business sector in india in terms of psychology,  methodology, technology, mindset  work culture, etc. Newer challenges, newer opportunities are day which are profitable and prospective.

The fundamental scope of doing business in India is lying with its people. The huge population of India has created a large unsaturated market of consumers. This is one of the reasons why global companies are very much interested in doing business in India. In the post globalisation era, this scope has increased immensely for global multinational companies as goverment of India has also played very crucial and supportive role in this respect through liberalised policies and legislative structure.

There are a few situations that have arisen in India post liberalisation

1. Shifting of agriculture worker to industry sector. 

2. Urbanisation-People are shifting from rural to urban areas. 

3. Opening up of trade market-export-import boom. 

4. Big open saturated market for products. 

5. A growing market for high quality and low price product. 

6. Gradual increase of organised retail chain. 

7. Growing number of merger and acquisitions. 

8. Lucid license policies for overseas multinational corporation. 

9. High growth rate is showing economic prosperity in India. 

10. Indian market leaders going global.

But there are certain negative impacts occurred aftermath the globalisation impact in India, which are as follows:

1. Unequal distribution of wealth disparity in income. 

2. Rapid privatisation government driven public sector units are on sale. 

3. Uneven growth in respect of different sectors. 

4. Extreme mechanisation is reducing demand for manual labours.

5. Both employee and consumer exploitation are on rise by private sector. 

Q.4. What is social audit? Discuss its aims and advantages.

Ans. Social Audit: A social audit is a formal review of a company’s endeavours in social responsibility. A social audit looks at factors such as a company’s record of charitable giving, volunteer activity, energy use, transparency, work environment, and worker pay and benefits to evaluate what kind of social and environmental impact a company is having in the locations where it operates.

Social audits are optional. Companies can choose whether to perform them and whether to release the results publicly or only use them internally.

A social audit is an internal examination of how a particular business is affecting a society. It serves as a way for a business to see if the actions being taken are being positively or negatively received and relates that information to the company’s overall public image.

In the era of corporate social responsibility, when corporations are often expected to deliver value to consumers and shareholders as well as meeting environmental and social standards deemed desirable by some members of the general public, social audits can help companies create, improve and maintain a positive public relations image. Good public relations is key, i.e. the way a company is perceived usually has an impact on its bottom line.

Aims: Social audits have several aims. First aim is to assess the type of social and environmental influence that the company has in its local community. Second aim is to make a judgement of the material and monetary shortfalls between the needs of the community and the assets that are available for the development of the local society. Third aim of social audits is to make local social service providers and other beneficiaries aware of the needs of the community. And the fourth aim is to provide information needed to improve the effectiveness of programs designed to enhance community development.

Advantages: Many believe that social audits are an imposition on organisations to divulge some information they want to keep internal. Others believe that social contributions should be left to the Social Conscience of the organisational leaders. However, the advantages outweigh the disadvantages Advantages of social audits include the following:

1. Helping the community with planning. 

2. Supporting democracy in the local community. 

3. Promoting community involvement, 

4. Benentting individuals and families that are poor or disadvantaged.

5. Promoting decision-making as a community and the sharing of the responsibilities. 

6. Assisting with human resources growth and development. 

7. Enhancing the company’s image in the eyes of the public

Leave a Reply