With change in the consumption habits of people, Neelesh, who was running a sweets shop shifted to chocolate business. On the eve of Diwali, he offered chocolates in attractive packages at reasonable prices. He anticipated huge demand and created a website 'chocolove.com' for taking orders online. He got lot of orders online and earned huge profit by selling chocolates.
Identify and explain the dimensions of business environment discussed in the above case.

Explanation

Business environment consists of factors that influences many enterprises at the same time. These are called dimensions of business environment. These factors are categorised as social, economic, political, legal and technological environment which are considered relevant for decision-making and improving the performance of an enterprise
The dimensions of business environment discussed in the above case are
(i) Economic environment
(ii) Social environment
(iii) Technological environment