PGDM IB ITB II_I 205 TBE_Chapter 1

PGDM ITB 2ND Semester_ 2014-15
Dr. Jeet Dogra - Asst. Professor, I I T T M Gwalior

 Topic 1: Business - meaning, nature and scope
 Topic 2: Characteristics of today’s business
 Topic 3: Environment - meaning, constituents of environment (external and
internal environment), factors influencing environment
 Topic 4: Environmental analysis; limitations of environmental analysis

Meaning of Business
 Business is an activity which involves buying and selling of goods & services.
 Modern business covers a complex field of industry and commerce which
involve activities related to both production and distribution.
 These activities on the one hand satisfy societal need and desires and on the
other hand bring profits to business firms.
 All the business activities are normally motivated by profits, in case , any of
these activities is carried
out by some organization for
the purpose other than
profit seeking, it cannot be
justifiably considered as
business.

Contribution from business
 Economic growth
 Creates employment opportunities
 Provides all kinds of goods and services which we need for consumption

Nature of business
 Large size
 Oligopolistic character
 Diversification
 Global reach of modern business
 Technological orientation
 Change
 Government control
 Business that matters today is large in size.
 Indian companies in terms of revenues, profits, assets and stockholders
equity are relatively small as compared to the companies in developed
countries.

Nature of business
 Large size
 Business that matters today is large in size.
 Indian companies in terms of revenues, profits, assets and stockholders
equity are relatively small as compared to the companies in developed
countries.
 Oligopolistic character
 Present day business is Oligopolistic in its nature.
 Small No. of firms selling a homogeneous / differentiated product.
 Interdependence among the sellers.

Nature of business
 Diversification
 Today not many corporate confine their activities to production of a single
commodity.
 Some business firms prefer related products to their existing production. This
is called concentric diversification. Ex: Maruti Udyog
 Adding new unrelated products or services for existing customers is known as
conglomerate diversification. Ex: JK Group has interest in textiles,
engineering, Computers
 Big business houses usually expand their activity by establishing new
companies which undertake production of unrelated new products or
services. This is conglomerate diversification. Ex: TATA’s
 However, diversification may not always contribute to growth of a business
enterprise.
 In the recessionary phase, it is quite risky to aspire for growth by going for
unplanned diversification.

Nature of business
 Global reach of modern business
 In some of the developed countries even some of the business giants have
preferred takeover of companies operating in their own lines of production.
 Even in the Indian markets some of the business giants have preferred
takeover of companies in their own areas.
 Ex: Coco-cola, for example has taken Parle Soft Drinks,
 Honda has taken over Kinetic Honda
 Whirlpool has taken over Kelvinator Refrigerators.

Nature of business
 Technological orientation
 Modern business is technology oriented.
 People expect that the quality of products should improve overtime and the
real cost.
 All this can be accomplished by the business if It pays attention to
sophistication of technology.
 Modern companies regard technological research strategic to their future,
they carry out their R & D activities very close to their headquarters.

Nature of business
 Change
 Today a business firm clearly needs to move faster if the fear of irrevalance is
not to become a reality.
 A modern firm must be vigilant all the time and be ready for change.
 Improvement in quality, packaging or product design is not sufficient to retain
customers, the firm should promptly introduce new products and create
demand for them.
 The business through its innovative moves can always create synthetic wants
and thus find space to produce new goods to satisfy them.

Nature of business
 Government control
 Since the late 1980’s role of the government in both developed and
underdeveloped economies has diminished.
 Advantage of Government in business is required to correct market failure
manifested in the form of monopoly & pollution.
 Government through monetary & fiscal regulation attempt to create stable
business conditions

Scope of business
 Profit earnings
 Production of goods and services
 Creating markets
 Technological improvements
 Human resource development
 Bring prosperousness to the nation

 Today's business are very competitive. There is always a hot competition in
the business world.
 The characteristics of business in today’s scenarios are as follows:
1. Creation of utilities
2. Dealings in goods and services
3. Continuity in dealings
4. Sale, transfer or exchange
5. Profit motive
6. Element of risk
7. Economic activity
8. Art as well as science

1. Creation of utilities:
 Business makes goods more useful to satisfy human wants.
 It adds time, place, form and possession utilities to various types of goods.
 In the words of Roger, "a business exists to create and deliver value
satisfaction to customers at a profit".
 Business enables people to satisfy their wants more effectively and
economically.
 It carries goods from place of surplus to the place of scarcity (place utility).
 It makes goods available for use in future through storage (time utility).

2. Dealings in goods and services:
 Every business enterprise produces and/or buys goods and services for selling
them to others.
 Goods may be consumer goods or producer goods.
 Consumer goods are meant for direct use by the ultimate consumers, e.g.,
bread, tea, shoes, etc.
 Producer goods are used for the production of consumer or capital goods like
raw materials, machinery, etc.
 Services like transport, warehousing, banking, insurance, etc. may be
considered as intangible and invisible goods.
 Services facilitate buying and selling of goods by overcoming various
hindrances in trade.

3. Continuity in dealings:
 Dealings in goods and services become business only if undertaken on a regular
basis.
 According to Peterson and Plowman, "a single isolated transaction of purchase
and sale will not constitute business recurring or repeated transaction of
purchase and sale alone mean business."
 For instance, if a person sells his old scooter or car it is not business though
the seller gets money in exchange.
 But if he opens a shop and sells scooters or cars regularly, it will become
business.
 Therefore, regularity of dealings is an essential feature of business.

4. Sale, transfer or exchange:
 All business activities involve transfer or exchange of goods and services for
some consideration.
 The consideration called price is usually expressed in terms of money.
 Business delivers goods and services to those who need them and are able and
willing to pay for them.
 For example, if a person cooks and serves food to his family, it is not business.
But when he cooks food and sells it to others for a price, it becomes business.
 According to Peter Drucker "any organisation that fulfils itself through
marketing a product or service is a business".

5. Profit motive:
 The primary aim of business is to earn profits.
 Profits are essential for the survival as well as growth of business.
 Profits must, however, be earned through legal and fair means.
 Business should never exploit society to make money.
6. Element of risk:
 Profit is the reward for assuming risk.
 Risk implies the uncertainty of profit or the possibility of loss.
 Risk is a part and parcel of business.
 Business enterprises function in uncertain and uncontrollable environment.
 Changes in customers' tastes and fashions, demand, competition, Government
policies, etc. create risk.
 Food, fire, earthquake, strike by employees, theft, etc. also cause loss.
 A businessman can reduce risks through correct forecasting and insur-ance.
 But all risks cannot be eliminated.

7. Economic activity:
 Business is primarily an economic activity as it involves production and
distribution of goods and services for earning money.
 However, business is also a social institution because it helps to improve the
living standards of people through effective utilization of scarce resources of
the society.
 Only economic activities are included in business.
 Non-economic activities do not form a part of business.
8. Art as well as science:
 Business is an art because it requires personal skills and experience.
 It is also a science because it is based on certain principles and laws.
 The above mentioned characteristics are common to all business enterprises
irrespective of their nature, size and form of ownership.

 Environment by definition is something external of an individual or an
organization.
 Therefore in strict sense, business environment refers to an external factors
which have a direct or indirect bearing on the activities of business.
 Certain aspects of both internal and external environment pose a threat to
business, other aspects provide opportunities for business growth.

 Different environmental variables exist internally and externally to
the business enterprise
 Environmental variables have a positive or negative influence on the
enterprise
 Business environment consists of two sub-environments:
 Internal (micro) environment
 External environment
 Market environment
 Macro environment
 Mutual relationships exist between
these environments

 Business environment broadly consists of the followings:
 internal environment
 external environment
 When we talk of the internal environment we includes those factors which are
within the control of the firm and such factors are concerned with firm's
resources, policies and objectives
 But we talk about external
business environment it means
those variables which are
independent of the firm &
therefore uncontrollable.

 Business environment
 Economic and Non – Economic
 Non – Economic:
 Political
 Legal
 Social
 Cultural
 Technological

Economic
 Economic environment consists of three elements:
1) Economic conditions;
2) Economic policy, and
3) The economic system.
 By economic conditions, we mean
 the nature of the economy,
 economic resources,
 the level of income,
 the distribution of income and wealth and
 the stages of development of the economy.
 All these factors have a direct hearing on the strategies to he adopted by a
business firm.

Economic
 In terms of nature of the economy, there could be free market economy or
capitalist economy where the economy remains in the hands of private
sector.
 At the other extreme, there may be centrally planned economy which is also
called as the communist economy.
 Here the entire economy remains in the hands of the state.
 In between these comes mixed economy where both private and public
sectors co-exist.
 However, in mixed economics there may be wide variation.
 In some cases, private sectors may occupy more significant place while in
general conditions, public sector may have the upper hand.

Economic
 What economic system will exist in a particular country is determined by the
people and the government.
 The firm has no control over it.
 However, the firm's policies & practices depend upon the type of economy in
trend.
 Thus, the economic environment is a very important external factor on which
the working of business firms depends.

Economic
 Management cannot overlook the market oriented or non-market oriented
nature of environment.
 The management has to keep in view the objectives of national planning or
the economic policies of the government.
 In other words, while planning its operation, the firm has to keep in view the
pattern, structure and even the rate of changes occurring on the economic
scenario.

Non – Economic
 Political
 Legal
 Social
 Cultural
 Technological
BUSINESS
POLITICAL
LEGAL
SOCIAL
CULTURAL
TECHNOLOGICAL

Non – Economic
(I) POLITICAL ENVIRONMENT
 Political stability- changes in the form & structure of government
administration
 Political organisation- ideology of ruling government; influence of premier
groups; conflicting role of public & private sector
 Example:
 Nehru: transformation of agrarian economy into industrialised economy
 Indira Gandhi: state became active in agriculture sector (subsidised fertilisers,
expansion of institutional credit); tightening of state control over industrial
finance, foreign investment, trade
 Since 1990-91, political environment changed- economy increasingly being
liberalised

Non – Economic
(II) LEGAL ENVIRONMENT
 Legal policies- formulation & implementation
 Economic legislations- facilitator and/ or restrictor
 Playa a vital role- dictating dos & don’ts of business
 Flexibility & adaptability of law- constitutional amendments
 Foreign policy- tariffs, custom unions etc.

Non – Economic
(III) Social Environment
 Made up of attitude, desires, expectations, education, beliefs & customs of
people
 Changes gradually
 To forecast a change is difficult
(IV) Cultural Environment
 Organisational culture is the customary or traditional ways on thinking &
doing things, which are shared to a greater or lesser extent by all the
members of the organisation, which new members must learn & at least
partially accept in order to be accepted into the service of the firm.

Non – Economic
 A firm wanting to market its product in various regions with diversified
cultures will have to carefully study the existing consumption pattern &
scope for creating demand for new products
 After that they have to adjust their marketing communication to cultural
characteristics.
 If the society is multi- cultural, then the firm cannot meet the demands of
different groups with a uniform product.
 To be successful in a multi-cultural society, the firm will have to carefully
study the consumption behaviour of different groups.
 For Example: Companies have to change their product portfolio because of
cultural differences as McDonald and KFC did when they launched their
restaurant chain in India.

Non – Economic
(IV) TECHNOLOGICAL ENVIRONMENT: It refers to body of skills,
knowledge & procedures for making, using & doing useful things
Positive effects of technology:
 Increased productivity
 Production of new & better goods of standardized quality with more
efficient use of raw materials
 Basis for fast growing urban & industrial system
Negative effects of technology:
 Displacement of labour
 Environmental pollution
 Switching over might be costly

BUSINESS DECISIONSINTERNAL
ENVIRONMENT
EXTERNAL
ENVIRONMENT

The constituents of environment is divided into:
 Internal Environment
 External Environment
Internal Environment
 Regarded as controllable factors: companies have control over them
 Internal economy: some internal factors contribute increase in productivity
Determinants of Internal Environment of an organization
 Mission & vision of the organisation
 Management strategy
 Industrial relations
 Corporate culture & values
 Career progression of employees / Line & staff relations
 Quality control system
 Team spirit among employees / Work culture / Compensation system

Pollutants of Internal Environment of an organization
 Conflict b/w different owner groups
 Conflicts b/w workers & managers
 Inter departmental conflicts
 Unhealthy competition & conflict among employees
 Office politics / Discrimination at work place
 Absenteeism

External Environment
 Regarded as uncontrollable factors: by and large beyond the control of
company.
 External economy: some external factors contribute to the growth of the
company.
 Major stakeholders are:
 Suppliers
 Customers
 Competitors
 Financiers
 Society

Cont..

 Environment analysis is evaluation of the possible or probable effects of
external forces and conditions on an organization's survival and growth
strategies.
Features of business environment analysis:
(a) Business environment is the sum total of all factors external to the business firm
and that greatly influences their functioning.
(b) It covers factors and forces like customers, competitors, suppliers, government and
the social, cultural, political, technological and legal conditions.
(c) The business environment is dynamic in nature that means it keeps on changing.
(d) The changes in business environment are unpredictable.
(e) It is very difficult to predict the exact nature of future happenings and the
changes in economic and social Environment.
(f) Business Environment differs from place to place, region to region and country to
country.
(g) For Example: Political conditions in India differ from those in China. Taste and
values cherished by people in India and China vary considerably.

Business Environment Analysis Process:
 Scanning: It means the general surveillance of environmental factors & their
interactions
 Monitoring: It means to tracking the environmental trends or events
 Forecasting: It means to developing plausible projections of direction, scope
& intensity of environmental change
 Assessment: It means to identifying & evaluating how & why current &
projected environmental changes will affect strategic management of
organisation

ENVIRONMENT SCANNING:
 Strategic planning in which managers try to determine best fit b/w
organisation & its external environment
 It is an important step towards corporate planning & business policy
decisions
 Aimed at continuous improvement of the company, its policies & programs.

 INTERNAL SCANNING: acquisition, analysis, use of information from within
the organisation that will help the management in determining future course
of action of business
 EXTERNAL SCANNING: acquisition, analysis, use of information about events
& establishing the relationship of business with its external environmental
variables

 Corporate managers analyze the Strengths (S), Weakness (W), opportunity (O)
& Threat (T) that exist for their organisation in the context of its
environment.
 O & T are external to the firm.
 With S the firm can seize the O & capitalize on it & because of its W it
becomes the victim of T in the environment

MONITORING
SCANNING FORECASTING
ASSESSMENT

Two models for carrying environmental scanning are:
 PEST Analysis
 SWOT Analysis

• The key elements of the external environment may be summarised as
PEST factors which refer to the
 Political environment
 Economic environment
 Socio-cultural environment
 Technological environment

Political Environment
• Since tourism entities are affected by current and new government
legislation, it is important to understand the location of political
power, how political power may change in the future and the likely
effects of this on policy (Burns & Novelli, 2009).
• For Example: Following is the distinguishes between policy objectives
of typical democratic political parties of the left and of the right.
Left wing
(e.g. Labour / Democrat parties)
Right wing
(e.g. Conservative / Republican parties)
* need to control the free market
* pro trade unions
* some state ownership of industry
* progressive taxation
* regulation of industry
* higher government spending and taxes
* reduce inequality of incomes
* provision of jobs a priority
* comprehensive welfare state
* poverty reduction and social mobility
goals
* belief in supremacy of the free market
* anti trade unions
* private ownership of industry
* proportional taxation
* minimal state interference
* low taxes and government spending
* inequality of income as incentive
* control of state spending a priority
* minimal welfare state
* belief in self-help

Opportunities and threats in the changing political environment
 Competition policy
 Health and safety
 Transport and infrastructure
 Global carbon agreements and
targets
 Taxation and spending plans
 Disability and access legislation
 Foreign policy
 Visa policy and home security
 Regulation and deregulation
 Regeneration plans
 Employment and training policy
 Travel advisories
 Minimum wages

Economic Environment
• The economic environment (Tribe, 2005) affects different types of
tourism entities in different ways.
 The success of an international tourism destination such as Mallorca,
Spain, will be affected by economic fluctuations in those countries
which supply the majority of its visitors (tourism generating countries),
as well as its economic attractiveness compared to competitive
resorts.
 Tour operators such as Kuoni (Switzerland ) and TUI (Germany/UK),
face a number of economic environments. First, domestic economic
environments affect the expenditure patterns of their clients. Second,
the variety of different international economic environments in which
their tourism product is located affects the supply of the tourism
package.
 Providers of tourism services will find the international economic
environment affects the demand for their services and the costs of
supplying those services.

Key Variables in Economic Environment
• The economic environment affects organizations in the tourism sector
in two main ways:
 Changes in the economic environment can affect the demand for an
organization’s products
 Changes may affect an organization’s costs.
• Additionally background factors such as share and property prices may
affect organizations.

Opportunities & Threats in Economic Environment
Opportunities Threats
 Low interest rates  High interest rates
 Low unemployment  High unemployment
 High consumer expenditure  Low consumer expenditure
 Low oil and other commodity prices  High oil and other commodity prices
 Low Taxes  High Taxes
 Favorable exchange rate  Unfavorable exchange rate
 Stable prices  Inflation
 Optimistic expectations  Pessimistic Expectations

Socio – cultural Environment
• Factors in the socio-cultural environment of tourism entities include
 the size and structure of the population
 lifestyles and inter-cultural differences
 other factors (including attitudes and values about travel, availability
of paid leave and unemployment)
 tourist motivations

Technological Environment
• The technological environment offers both opportunities and threats:
 Opportunities may be found in cheaper provision, or improvements in
goods and services, in better marketing or easier distribution.
 However technology may result in an organisation's product or service
becoming obsolete, or subject to new forms of competition.
• The technological environment may be divided into Information
Communication Technology and other technology.

Information & Communication Technology
• ICT relevant to tourism encompasses information search, purchase of
services, post travel engagement and networking.
• It includes information and reservation systems for airlines, hotels and
attractions, timetables for transport systems, search engines (e.g.
Google) online travel services (e.g. Expedia, Orbitz, Lastminute.com,
Opodo, Travelocity and edreams), destination management systems
(e.g. visitbritain.com), networking and web 2.0 portals (e.g.
tripadvisor.com) and price comparison sites (e.g.
travelsupermarket.com).

• Other areas where technologies have had a significant impact on
tourism include:
 Construction techniques - allowing faster erection of buildings.
 Bridge technology – extending access and cutting journey times.
 Materials – lighter and more durable materials.
 Glass – especially with better insulation properties.
 Fuels – e.g. biofuels.
 Energy – especially alternative sources of energy such as wind and solar
power.
 Security scanning – which enables quicker and more accurate passenger
checking at airports.

For Example: Tourism 2023
Four scenarios from the
Future Foundation:
1. Boom and burst:
A booming UK economy &
high disposable incomes have
fuelled a growth in travel
worldwide.
2. Divided disquiet: A toxic
combination of devastating
climate change impacts,
violent wars over scarce
resources and social unrest has created an unstable and fearful world.
2. Price and privilege: A dramatically high oil price has made travel
punitively expensive.
3. Carbon clampdown: The Government has introduced tradable carbon
quotas for all UK households

• SWOT analysis is an executive summary of the different elements of
strategic analysis.
• Under SWOT, the detailed analysis of an organisation's external
environmental and internal resource position is distilled and
summarised into key factors.
• Once the key SWOT elements have been identified, it can be
productive to prepare a grid with strengths and weaknesses and
opportunities and threats.
• Identification of an organisation's situational position by means of a
SWOT analysis is an important phase in prior to consideration of
strategic options.
• Appropriate strategies are likely to:
• align opportunities and strengths
• transform weaknesses and
• overcome threats

Internal (Capability) Analysis Strengths Weaknesses
• Resources
• Products
External (Environment) Analysis Opportunities Threats
• Competition
• Political
• Economic
• Socio-cultural
• Technological

• True to its name, a SWOT analysis is used to help organizations identify the
strengths, weaknesses, opportunities and threats involved in any business
decision.
• The purpose of the SWOT method is to systematically assess the possibilities and to
analyze the outcomes for each factor in order to determine a company’s best course
of action.
• SWOT analysis has been an invaluable resource for Fortune 500 companies for many
years, and it’s an essential aspect of any formalized business plan.
Conducting a SWOT Analysis
• As mentioned earlier, the foundation for a SWOT analysis is based on four words:
strengths, weaknesses, opportunities and threats.
• Strengths and weaknesses reflect what is going on inside of a business, while
opportunities and threats reflect on what is happening outside of a business.
Information for each section comes from varying types of analysis, which are
condensed and listed in each of the four sections.
• A single person can conduct the analysis on his or her own, but involving at least four
people is ideal to achieve a diversity of opinions that represent your entire
organization. Four people can also help spread the workload while exploiting certain
perspectives.
• For example, you might have an idea of the threats to your business’ growth but
your employee in accounting may have a more informed and reasoned opinion of the
threat based on his or her work.

• Remember to avoid simply rushing through a SWOT analysis.
• When done right, a good and thorough analysis can save time by proactively
identifying potential issues instead of allowing those issues to affect your business
before retroactively addressing them.
A Deeper Understanding of SWOT
• Knowing what the words mean in the SWOT acronym is a great start, but the next
step is to understand what types of information you should be considering when
researching each section. Let’s find out.
Strengths
 Your company’s strengths are things it does well.
 Employees with long tenures are usually the best ones to identify strengths.
 Strengths may not always be apparent in revenue or other easily quantified figures,
but instead may be due to high customer satisfaction rates or loyal clients.
 This can be a great starting point to steer the dialogue into something positive yet
productive.

Weaknesses
 Unfortunately, everything has weaknesses, including your company.
 But it takes solid insight and perspective to distinguish those weaknesses from petty
issues or genuinely baseless complaints.
 As such, an objective person should address this section.
 Furthermore, this type of person should not be afraid to voice his or her opinion or
criticize aspects of the business.
 At the same time, this person should also be able to take control and keep the
conversations focused on the task at hand; if not, your analysis might turn into
unproductive and abusive shouting matches.
Opportunities
 The process of identifying opportunities is one of the more exciting aspects of the
analysis.
 This section seeks to find any and all comparative advantages that your company has
over its competition.
 Those with a creative and positive outlook on the company are best suited to handle
this part of the analysis.
 The right person will understand long-term goals as well as long-term consequences
of the decisions being made.
 They will also be prudent about which opportunities will help the company in the
short and long terms. Unlike strengths and weaknesses, opportunities are seen as
external to the company.

Threats
 Threats are present in any industry and any market.
 There’s competition everywhere, and it’s in your best interest to stay ahead of it.
 Take the time to notice what your competition is saying through press releases and
social media to help determine the level of the threat your company faces.
 An employee who knows your industry and its major players is best suited to handle
this portion of the analysis, as they will have insight on current legitimate threats
and potential future problems that are lurking in the horizon.
 As with opportunities, threats are seen as external to the company.

The Final Analysis
 After taking the time to complete the SWOT analysis, the next step is to consolidate
your findings in a clear and concise manner.
 Keep it simple so the portions of the analysis can be properly considered and a
decision can be made from the findings. Here are some key points to present:
 A formal list of internal and external factors. This will provide an overview of
the SWOT results and can sometimes take several pages to finish.
 The SWOT matrix. This is a user-friendly way to organize and present the results
by using squares and graphs to highlight key findings.
 Prioritize the results. Not every strength or weakness should necessarily be
reported in the initial findings. They can be documented further into the
analysis, but decision-makers will want the key findings first and details later.
 Support the findings. Initially, discussions will begin with the summary of the
results, but the final decisions will be made after reading the research behind
the summary.
 A SWOT analysis will allow decision-makers the opportunity to create the best
course of action regarding a new project or even as a way to make the most of a
poor past decision. Perhaps most importantly, the collaboration involved can
provide a balanced perspective and get everyone involved in the decision-making
process.
(Source: http://www.docstoc.com/article/173009022/How-to-Conduct-a-SWOT-
Analysis?utm_source=email&utm_medium=email&utm_campaign=222&utm_content=7543)

• When you are conducting an environmental analysis, you should keep
in mind that it is only one stage of the business planning process.
• For complex issues, you will usually need to conduct more in-depth
research and analysis to make decisions.
• Keep in mind that an analysis only covers issues that can definitely be
considered a strength, weakness, opportunity or threat.
• Because of this, it's difficult to address uncertain or two-sided factors,
such as factors that could either be a strength or a weakness or both,
with a SWOT analysis (e.g. you might have a prominent location, but
the lease may be expensive).
• A PEST or SWOT analysis may be limited because it:
 doesn't prioritize issues
 doesn't provide solutions or offer alternative decisions
 can generate too many ideas but not help you choose which one is best
 can produce a lot of information, but not all of it is useful.

• Some more limitations include:
 Price increase;
 Inputs / raw materials;
 Government legislation;
 Economic environment;
 Searching a new market for the product which is not having overseas
market due to import restrictions; etc.
• Some Internal limitations may include
 Insufficient research and development facilities;
 Faulty products due to poor quality control;
 Poor industrial relations;
 Lack of skilled and efficient labour; etc

Compiled and Edited by:
Dr. Jeet Dogra
Assistant Professor
Indian Institute of Tourism & Travel Management, Gwalior, India
(An Organization of Ministry of Tourism, Govt. of India)
E-mail: jeetdogra@live.com
Follow:
On Slideshare, click Slideshare.net/JeetDogra
On Academia, click Academia.edu/JeetDogra
On Facebook, click Facebook.com/jeetdogra

PGDM IB ITB II_I 205 TBE_Chapter 1

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PGDM IB ITB II_I 205 TBE_Chapter 1