Rajan is employed in Amaze Ltd. He was of a view that continuous scientific improvements and innovations provide new ways of producing goods. That is why he keeps on making innovations in his product and spends a huge amount on R & D.

Identify the dimension of Business environment discussed above.

Technological environment

The correct answer is option (4)- Technological environment.

The dimension of the business environment discussed above is Technological environment.

Rajan's focus on continuous scientific improvements, innovations, and spending on R&D (Research and Development) relates to advancements in technology, which fall under the Technological environment. This environment involves factors like new inventions, innovations, and the development of new production methods, which can significantly impact business operations.

Technological environment includes forces relating to scientific improvements and innovations which provide new ways of producing goods and services and new methods and techniques of operating a business. For example, recent technological, advances in computers and electronics have modified the ways in which companies advertise their products. It is common now to see computerised information kiosks, and World Wide Web multimedia pages highlighting the virtues of products. Similarly, retailers have direct links with suppliers who replenish stocks when needed. Manufacturers have flexible manufacturing systems. Airline companies have Internet and World Wide Web pages where customers can look for flight times, destinations and fares and book their tickets online. In addition, continuing innovations in different scientific and engineering fields such as lasers, robotics, biotechnology, food preservatives, medicine, telecommunication and synthetic fuels have provided numerous opportunities and threats for many different enterprises. Shifts in demand from vaccum tubes to transistors, from steam locomotives to dieseland electric engines, from fountain pens to ballpoint, from propeller airplanes to jets, and from typewriters to computer based word processors,have all been responsible and creating new business.