Lately many companies have planned for significant investment in organised retailing in India. Several factors have prompted their decisions in this regard. Customer income is rising. People have developed a taste for better quality products even though they may have to pay more. The aspiration levels have increased. The government has also liberalised its economic policies in this regard and permitted even cent percent foreign direct investment in some sectors of retailing.
a) Identify changes in business environment under different heads--economic, social, technological, political and legal that has facilitated the company's decision to plan significant investment in organised retailing. (5 marks)
b)What has been the impact of these changes with regard to globalisation and privatisation ? (3 marks)