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BUSINESS ENVIRONMENT
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On completion of this course, the students will be able to;
CO 71: Distinguish different types of Business Environment |
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CO 72: Differentiate the types of political system |
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CO 73: Analyze various aspects of economic environment and economic policies of the country. |
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CO 74: Analyze the relevance of technological and societal environment in today’s globalized world. |
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CO 75: Analyze the international business environment by identifying the role and functions of various international institutions. |
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CO 76: Analyze the macro and micro environment of business. |
Business Environment
Concept, significance, Types of Business Environment: Internal and External Environment, Micro and Macro Environment, Porter’s Five Forces Model of Competition.
Environment Analysis & Forecasting: stages, approaches & techniques of environmental analysis
Political environment
Functions of state, Types of political systems, Economic aspect of Indian constitution: Preamble, Directive principles, Fundamental rights, Centre State Relations
Legal Environment- Foreign Exchange Management Act 1991, Consumer Protection Act 1986, Right to Information Act 2005, Competition Act 2002 (Amended Act 2007).
Economic environmentTypes of economic systems-Market Allocation, Command Allocation, Mixed Allocation, Impact of Liberalization and Privatization on Indian economy.
Economic Policies in India-New Industrial policy, 1991 and Industrial licensing, Monetary policy, Fiscal policy.
Technological Environment
Technological leadership & Followership, Technology & Competitive Advantage, sources of technological dynamics, appropriate technology, technology adaption, transfer of technology, Intellectual Property Rights (IPR) (concepts of Patent, Copyright, Trademark).
Societal Environment- Business and Society, Business Ethics, Business and Culture- Elements of culture, cultural adaptation, cultural shock, cultural transmission, cultural conformity, cultural lag.
International Business Environment Nature, GATT-Objectives & Principles, WTO-main provisions & functions, Globalization-trends and challenges.
International Financial Institutions- International Monetary Fund (IMF), World Bank(IBRD), International Development Association (IDA), International Finance Corporation (IFC)-Objectives and Functions
Essential Readings:
- Francis Cherunillam, Business Environment, Himalaya Publishing House.V.
- Shaikh Saleem, Business Environment, Pearson Education, 2009
Suggested Readings:
- Justin Paul, Business Environment, Tata McGraw Hill Publishing Co. Ltd., 2008
- K. Chidambaram and V. Alagappan, Business Environment, Vikas Publication House Pvt Ltd, 2009
E Resources:
- INTERNATIONAL BUSINESS ENVIRONMENT, McGraw Hill Education, Bookshelf - McGraw Hill Education (India) Pvt Ltd (mheducation.com), Mcgraw2020
Journals:
- Business Perspectives and Research
- Global Business Review
- South Asian Journal of Business and Management Cases
