M.Com DCM 6204 BUSINESS ENVIRONMENT

Description

SESSION	SEPTEMBER 2023
PROGRAM	master of commerce (M.com)
SEMESTER	II
course CODE & NAME	DCM6204 – BUSINESS ENVIRONMENT
CREDITS	4

 

Set – 1^st

Questions

1. Explain the models of circular flow of economic activities.

Ans:The Circular Flow of Economic Activities is a macroeconomic model that illustrates how money and goods flow between households and businesses in an economy.

There are two primary models of the circular flow: the Two-Sector Model and the Three-Sector Model. Additionally, an extended version, the Four-Sector Model, incorporates the

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2. Explain the components of macro environment of business.

Ans:The macro environment of a business encompasses external factors and forces that can significantly influence the organization’s operations, performance, and decision-making. These factors are generally beyond the control of the business and include various dimensions.

The key components of the macro environment include: 

Economic Environment: 

Economic

 

 

3. Explain the concept and categories of social responsibility of business.

Ans: Concept of Social Responsibility of Business:  Social responsibility of business, also known as corporate social responsibility (CSR), is a concept that suggests that businesses have an obligation to act in ways that benefit society beyond their primary economic goals. It involves integrating social and environmental concerns into business operations and decision-making, with the

 

 

 

 

Set – 2^nd

Questions

1. Explain the concept and categories of social responsibility of business.

Ans: Concept of Social Responsibility of Business:  Social responsibility of business, also known as corporate social responsibility (CSR), is a concept that emphasizes the ethical and moral obligations that businesses have beyond their economic and legal responsibilities. It implies that businesses should take actions that contribute positively to society, the environment, and various stakeholders, going beyond the pursuit of profits.

CSR involves integrating social and environmental concerns into the business strategy and decision-making

 

 

2. Describe the different types of Intellectual Property Rights.

Ans: Intellectual Property Rights (IPR) is legal protections granted to individuals or entities for their creations or inventions. These rights provide exclusivity, allowing the creators to control the use of their intellectual property for a specified period.

The main types of intellectual property rights include: 

Copyright

 

3. Describe the advantages and disadvantages of globalization for business.

Ans: Advantages of Globalization for Business: 

Market Expansion: 

Access to Larger Markets: Globalization allows businesses to reach larger, diverse markets, increasing their potential customer base.

Increased Sales and Revenue: Access to global markets can lead to increased sales and revenue, particularly for companies with products or services that have international appeal.

Cost Efficiency: