Question

“Understanding family lifestyle and customs is important for the food processing industries”.

1. Observe this statement and identify the type of business environment referred to this context. 

2. State its significance in business.

Answer 1

1. Social environment.

2. Social environment: 

The social factors include attitude of people, cultural heritage, customs and beliefs of people, literacy rate, educational system, demographic distribution, etc. The sociocultural environment very much influences the business to follow a code of conduct. A business concern must understand the society in its various dimensions for its success.