Explain factors of socio-cultural environment ?

Socio-cultural factors include consumers' lifestyles, buying habits, education, religion, beliefs,
values, demographics, social classes, sexuality and attitudes. These factors determine the
suitability of an organisation's products and services for its customers' needs.

Q2 What is addictive manufacturing?

Ans: dditive manufacturing is the process of creating an object by building it one layer at a time.
It is the opposite of subtractive manufacturing, in which an object is created by cutting away at a
solid block of material until the final product is complete.

Q 3. Discuss diffusion of innovation.?

Ans Diffusion of Innovation (DOI) Theory, developed by E.M. Rogers in 1962, is one of the
oldest social science theories. It originated in communication to explain how, over time, an idea
or product gains momentum and diffuses (or spreads) through a specific population or social
system.

Q4 Define climate change.

Ans:- As greenhouse gas emissions blanket the Earth, they trap the sun’s heat. This leads to
global warming and climate change. The world is now warming faster than at any point in
recorded history.

Q5 Explain the nature of industry 4.0.

Industry 4.0 refers to the “smart” and connected production systems that are designed to sense,
predict, and interact with the physical world, so as to make decisions that support production in
real-time. In manufacturing, it can increase productivity, energy efficiency, and sustainability.

Q6 Explain the important regulation associated with FDI.

 Ans:- The FDI policy is governed in India by the industrial policy and promotion department. In
India, some prohibited or permitted sectors in India. Under this new regime, there were two ways
in which foreign investors invested in India. One is the automatic route, and another is the
government route.

Q7 What is economic integration?

Ans Economic integration is an arrangement among nations to reduce or eliminate trade

barriers and coordinate monetary and fiscal policies.

Q8 Discuss digital transformation..

Ans :- Digital transformation is the process of using digital technologies to create new — or
modify existing — business processes, culture, and customer experiences to meet changing
business and market requirements. This reimagining of business in the digital age is digital
transformation.

Q9. Suggest measures to improve customer traffic at particular websites

 Ans: mail List Building. Using your current readers and customers is a great way to drive traffic
to your website. ...
 Community Engagement. The more brand recognition you have, the more traffic you will drive
to your website. ...
 On-Page SEO. ...
 Quality Backlinks. ...
 Video Marketing. ...
 Content Repurposing. ...
 SEO Tools. ...
 Historical Optimization

Q10 Throw the light on consumer protection.

Ans Consumer Protection Act provides Consumer Rights to prevent consumers from fraud or
specified unfair practices. These rights ensure that consumers can make better choices in the
marketplace and get help with complaints.

Section B
Q1 Define the culture. Explain the measures to manage cultural differences with relevant
examples.
Ans Cultural differences range from differences in language and dress to body modification,
beliefs, mores, landscapes, and even gear. Cultural differences arise constantly and are diffused
throughout the physical world as people move, or through the Internet. Customs, laws, dress,
architectural style, social standards, and traditions are all examples of cultural elements.

1 – Teamwork
It is important to have an open mind towards the new culture, embrace teamwork activities and
sharing of tasks rather than focus on individual differences. See other people’s opinion as an
opportunity to expand your horizons. Find here how to build your teamwork skills.

2 – Model the right behaviour

Everyone in the workplace should lead by example as well as embrace and respect diversity. Put
harmony and common sense before being right and use a sense of humour and/or a positive
approach. Do not take things to the personal side, sometimes people are just having a bad day or
are going through a difficult situation.

3 – Awareness
A good way to get to build a healthy work environment is to celebrate cultural differences and
make everyone aware of your co-workers’ perspectives, habits and way of life. Learning a new
language might be a good start to get along with your colleagues.

4 – Communication
The best way to practice effective communication in a multi-cultural environment is by keeping
an open mind, have some knowledge of cultural differences, practice active listening (getting
used to different accents) and watch your nonverbal communication as well your voice tone.
Kindness and empathy are much appreciated in this context.

Q2 Define and classify artificial intelligence. Can artificial intelligence replace

human intelligence?
Ans : Artificial intelligence is the simulation of human intelligence processes by machines,
especially computer systems. Specific applications of AI include expert systems, natural
language processing, speech recognition and machine vision.

 Type 1: Reactive machines. These AI systems have no memory and are task-specific. An
example is Deep Blue, the IBM chess program that beat Garry Kasparov in the 1990s. Deep
Blue can identify pieces on a chessboard and make predictions, but because it has no
memory, it cannot use past experiences to inform future ones.
 Type 2: Limited memory. These AI systems have memory, so they can use past
experiences to inform future decisions. Some of the decision-making functions in self-
driving cars are designed this way.

 Type 3: Theory of mind. Theory of mind is a psychology term. When applied to AI, it
means the system would have the social intelligence to understand emotions. This type of
AI will be able to infer human intentions and predict behavior, a necessary skill for AI
systems to become integral members of human teams.

 Type 4: Self-awareness. In this category, AI systems have a sense of self, which gives
them consciousness. Machines with self-awareness understand their own current state. This
type of AI does not yet exist.

 Machine Intelligence VS. Human Intelligence

Here’s a comparison of Artificial Intelligence and Human Intelligence :

 Nature Human Intelligence aims at adapting to the new environment by using

a combination of different cognitive processes. On the other hand, Artificial Intelligence

aims at building machines that use the data and perform human-like actions. This is

because machines are digital while the human brain is analogous.

 Function Artificial Intelligence relies on the specific instructions and data already fed

into the system. Whereas a human brain uses its computing power, ability to think, and

memory.

 Learning Human intelligence stores lessons and learns from past experiences and

incidents. It is more like learning via trial and error method in technical terms, i.e.,
 learning from mistakes. The core of human intelligence is the ability to think rationally

and being able to differentiate between right and wrong actions.

However, in this respect, machines or Artificial intelligence lie far behind as they can not

think. Machines can learn from continuous training and data fed into them, but they can

never achieve the unique thought process humans have. Moreover, Artificial Intelligence

can not perform the tasks that are not fed into their systems.

 Speed Machines have more speed of working. They can complete any task in half the

time any human would take. Also, machines have more capacity for data handling. As a

result, they can receive data at a speedier rate as compared to humans.

Q Differentiate between circular and linear economy. Explain the role of circular economy for
sustainable business.
Ans A circular economy is fundamentally different from a linear economy. To put it
simply, in a linear economy we mine raw materials that we process into a product that is
thrown away after use. In a circular economy, we close the cycles of all these raw materials.
Closing these cycles requires much more than just recycling. It changes the way in which
value is created and preserved, how production is made more sustainable and which
business models are used. These aspects are explained in more detail below.
Circular economy is a new production and consumption model that ensures sustainable growth
over time. With the circular economy, we can drive the optimization of resources, reduce the
consumption of raw materials, and recover waste by recycling or giving it a second life as a new
product.

Q Explain the rise of China and its impact on Chinese growth.

Ans Since China began to open up and reform its economy in 1978, GDP growth has averaged
over 9 percent a year, and more than 800 million people have lifted themselves out of poverty.
There have also been significant improvements in access to health, education, and other services
over the same period.
As a result, China's share of global trade increased further during 2020, to nearly 15%. In 2021,
China's trade recovery from the crisis has been impressive. In the first quarter of this year, its
exports surged by almost 50% year-over-year, to about $710 billion.
Trade surged: the value of U.S. goods imports from China rose from about $100 billion in 2001
to $500 billion in 2021. This leap in imports is due in part to China's critical position in global
supply chains; Chinese factories assemble products for export to the United States using
components from all over the world.

Q Explain climate change. Analyze impact of climate change on global trade.

An s Climate change can negatively impact trade by disrupting distribution and supply chains
and raising trade costs. The WTO, as the cornerstone of the multilateral rules-based global
trading system, plays a key part in supporting climate action. The physical impacts of climate
change will have direct as well as indirect consequences for trade. Direct effects encompass the
effects of climate change on trade-relevant supply, transport and distribution chains, which could
become manifest in damages to trade infrastructure such as ports from more frequent extreme
weather events or rising sea level. Other impacts, such as retreat of polar ice under warmer
temperatures can lead to opening up new trade routes in the Arctic. Indirect impacts for trade
will primarily result from the impact of climate change on the production of goods and services
through changes to the factors of production of economies, i.e. land, labour, and capital. Both
direct and indirect effects of climate change on trade will likely lead to changes to the
comparative advantage of economies, hence trade flows and patterns.

Q How inequality is increasing social unrest in the society. Also explain the role of inclusive
development for sustainable growth.
Ans An increase in inequality is associated with more unrest when redistributive transfers are
low, suggesting that social safety measures help reducing social tensions. Policymakers need to
pay special attention to preventing scarring effects on the livelihoods of the most vulnerable in
their societies. Structural changes in society, crises such as natural disasters, and the capacity for
individuals to engage in collective action are the main causes of social unrest. People perceive
injustice or fear and are compelled into collective action even across social stratifiers of race or
class. Inclusive and sustainable industrial development (ISID) is the primary source of income
generation, allows for rapid and sustained increases in living standards for all people, and
provides the technological solutions to environmentally sound industrialization. The Sustainable
Development Goals (SDGs) aim to transform our world. They are a call to action to end poverty
and inequality, protect the planet, and ensure that all people enjoy health, justice and prosperity.

Q Explain identity politics. Explain the role of geo politics in international trade.

Ans politicsin which groups of people having a particular

racial, religious, ethnic, social, or cultural identity tend to
promote their own specific interests or concerns without
regard to the interests or concerns of any larger political
group. Role of geopolitics in international relations
Geopolitics is the study of how geography affects politics
and international relations. Within the field of geopolitics,
analysts study actors—the individuals, organizations,
companies, and national governments that carry out
political, economic, and financial activities—and how
they interact with one another.
Q Explain fast track growth model of China. Do you feel that it is sustainable economic
model?
Ans In 1978, after years of state control of all productive assets, the government of
China embarked on a major program of economic reform. In an effort to awaken a
dormant economic giant, it encouraged the formation of rural enterprises and
private businesses, liberalized foreign trade and investment, relaxed state control
over some prices, and invested in industrial production and the education of its
workforce. By nearly all accounts, the strategy has worked spectacularly. hile pre-
1978 China had seen annual growth of 6 percent a year (with some painful ups and
downs along the way), post-1978 China saw average real growth of more than 9
percent a year with fewer and less painful ups and downs. In several peak years, the
economy grew more than 13 percent. Per capita income has nearly quadrupled in
the last 15 years, and a few analysts are even predicting that the Chinese economy
will be larger than that of the United States in about 20 years. Such growth compares
very favorably to that of the "Asian tigers"--Hong Kong, Korea, Singapore, and
Taiwan Province of China--which, as a group, had an average growth rate of 7-8
percent over the last 15 years.
China's economic model is unsustainable and heading for disaster,
and could lead to global economic instability. The most significant
economic growth story over the past two decades has been China.
The country went from a poor agricultural-based economy to an
industrial powerhouse in less than 20 years.