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.

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)

Types 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 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.

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.