Answer:
The given statement, "Release of a Bollywood is postponed due to opposition by one of the minister," is an example of a key component of the business environment known as "political and legal factors." This component includes the laws, regulations, and policies set forth by governments, as well as the political stability, ideologies, and actions of political figures that can impact businesses.
It is necessary for business enterprises to systematically analyze and diagnose this environment because it affects their operations, decision-making, and profitability. Changes in laws or regulations that impact the industry in which they operate can create opportunities or threats. The actions or positions taken by politicians or public officials can affect the reputation of the business and its customer base. Therefore, understanding these political and legal factors helps businesses identify potential risks and opportunities so they can adjust their strategies accordingly to thrive in a dynamic environment. Additionally, complying with legal requirements and responding to political pressures is essential for the long-term sustainability of the business.