Business Environment Notes

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Hi Fellow MBA students I am sharing with you the ebook & lecture notes of the subject Business environment. The attached PDF file will help you in your studies for Business environment and help you clearing your semester/trimester exams with ease. The attached eBook/notes on International economics management contain the following topics.

Business environment is the sum total of all factors external to the business firm and that greatly influence their functioning. It covers factors and forces like customers, competitors, suppliers, government, and the social, cultural, political, technological and legal conditions. The definition of Business Environment, “The sum total of all individuals, institutions and other forces that are outside the control of a business enterprise but the business still depends upon them as they affect the overall performance and sustainability of the business.”.

Read this article to know about the definitions, nature and significance of business environment!

The word ‘Business Environment’ has been defined by various authors as follows,

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“Business Environment encompasses the -climate’ or set of conditions, economic, social, political or institutional in which business operations are Conducted.”—Arthur M. Weimer

“Environment contains the external factors that create opportunities and threats to the business. This includes socio-economic conditions, technology and political conditions.” – William Gluck and Jauch

‘‘Business environment is the aggregate of all conditions, events and influences that surround and affect it.”—Keith Davis

“The environment of business consists of all those external things to which it is exposed and by which it may be influenced directly or indirectly”. —Reinecke and Schoell.

“The total of all things external to firms and industries that affect the function of the organisation is called business environment.”—Wheeler

“Civilisations require challenges to survive. Thus environment also contains hostilities and dangers that may be overcome by individuals and organisations.”—Arnold J. Toynbee

On the basis of the above definitions, it is very clear that the business environment is a mixture of complex, dynamic and uncontrollable external factors within which a business is to be operated.

Nature of Business Environment:

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The nature of Business Environment is simply and better explained by the following approaches:

(i) System Approach:

In original, business is a system by which it produces goods and services for the satisfaction of wants, by using several inputs, such as, raw material, capital, labour etc. from the environment.

(ii) Social Responsibility Approach:

In this approach business should fulfill its responsibility towards several categories of the society such as consumers, stockholders, employees, government etc.

(iii) Creative Approach:

As per this approach, business gives shape to the environment by facing the challenges and availing the opportunities in time. The business brings about changes in the society by giving attention to the needs of the people.

Significance of Business Environment:

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Business Environment refers to the “Sum total of conditions which surround man at a given point in space and time. In the past, the environment of man consisted of only the physical aspects of the planet Earth (air, water and land) and the biotic communities. But in due course of time and advancement of society, man extended his environment through his social, economic and political function.”

In a globalised economy, the business environment plays an important role in almost all business enterprises. The significance of business environment is explained with the help of the following points:

(i) Help to understand internal Environment:

It is very much important for business enterprise to understand its internal environment, such as business policy, organisation structure etc. In such case an effective management information system will help to predict the business environmental changes.

(ii) Help to Understand Economic System:

The different kinds of economic systems influence the business in different ways. It is essential for a businessman and business firm to know about the role of capitalists, socialist and mixed economy.

(iii) Help to Understand Economic Policy:

Economic policy has its own importance in business environment and it has an important place in business. The business environment helps to understand government policies such as, export-import policy, price policy; monetary policy, foreign exchange policy, industrial policy etc. have much effect on business.

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(iv) Help to Understand Market Conditions:

Business environment notes of bbs 3rd year

It is necessary for an enterprise to have the knowledge of market structure and changes taking place in it. The knowledge about increase and decrease in demand, supply, monopolistic practices, government participation in business etc., is necessary for an enterprise.

Business Environment Book Pdf Free Download. Business Environment is one of the famous subjects for MBA Students. This BE Book will useful to most of the students who were prepared for Competitive Exams like MBA Entrance Exams. This PDF book will cover most of the syllabus of Business Environment Book.

Below are the contents which you would see in Business Environment Textbook especially made for MBA Students.

Business Environment Pdf

BUSINESS ENVIRONMENT: Business systems – Process and Classification of Business -Types of Environment- Environment Analysis.

ECONOMIC ENVIRONMENT: Concept of Economic Systems- Industrial Policies since

Independence and their Significance- Gross Domestic Product -Inflation-Fiscal & Monetary Policies- Foreign Trade Policy.

LEGAL ENVIRONMENT: Special features of SICA (Special provisions) 1985-BIFR- Licensing Policy.

POLITICAL ENVIRONMENT: Functions of State – Economic Role of Government in India- The Constitutional Environment.

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SOCIAL ENVIRONMENT: Business & Society – Business & Culture- Social Responsibility of Business- Consumerism.

TECHNOLOGICAL ENVIRONMENT: Technological Development & Technical Progress – Rob mcconnell discography.

Determinants of Technological Environment- Indian Science & Technology Policy- Objectives & Implementation- Intellectual Property Rights(IPR).

INVESTMENT ENVIRONMENT: Capital & Money Market- Stock Exchanges & Regulations – Role of SEBI- Private Public Partnership (PPP).

INTERNATIONAL ENVIRONMENT: Globalization- Foreign Direct Investment – Types- WTO – Role & Functions- GATT- Trading Blocks- Balance of Payments – Disequilibrium in BOP- EXIM Policy & Role of EXIM Bank- SEZs.

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