A fantastic PPT on Business Environment. It gives the complete understanding of the concept of the Business Environment, its features, significance and its impact on the Indian Businesses. It also gives a description of LPG Policy 1991 and its impact. You will also find a concept of Demonetiszation.
Business environment means all of the internal and external factors that affect how the company functions including employees, customers, management, supply and demand.There are various factors that are included in internal and external environment.
Marketing is one of the most important part for any company. And for that companies have to follow certain guidelines, which are different for different countries. Also, ethics plays major part in marketing, therefore all marketing campaigns should be ethical according to particular country (community). This presentation shows our view point of marketing campaigns by different companies and it is made on Indian Laws and Ethics
Business Environment-Meaning, Importance, Environmental Factors, Recent Political Environment, Recent
Economic and Financial Environment, Planning In India-Planning Commision-Liberalisation and Planning,
Industrial Policy: New trade policy-1991 onwards, Industrial Licensing in India
Business environment means all of the internal and external factors that affect how the company functions including employees, customers, management, supply and demand.There are various factors that are included in internal and external environment.
Marketing is one of the most important part for any company. And for that companies have to follow certain guidelines, which are different for different countries. Also, ethics plays major part in marketing, therefore all marketing campaigns should be ethical according to particular country (community). This presentation shows our view point of marketing campaigns by different companies and it is made on Indian Laws and Ethics
Business Environment-Meaning, Importance, Environmental Factors, Recent Political Environment, Recent
Economic and Financial Environment, Planning In India-Planning Commision-Liberalisation and Planning,
Industrial Policy: New trade policy-1991 onwards, Industrial Licensing in India
Nature and Purpose of Business || Part-1 || Business Study Class 11 ||KAIM
Concept of Business, Characteristics of Business, Objectives of Business: Economic Objectives, Social Objectives, Role of Profit in Business, comparison of business, profession and employment etc.
व्यवसाय की अवधारणा, व्यवसाय के लक्षण, व्यवसाय के उद्देश्य: आर्थिक उद्देश्य, सामाजिक उद्देश्य, व्यवसाय में लाभ की भूमिका, व्यवसाय, पेशे और रोजगार की तुलना आदि।
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Business Environment Indian PerspectiveBimarsh Giri
This is the compiled file and includes the following topics
* Business Environment
* Importance of Business Environment
* Characteristics of Business Environment
* Dimensions of Business Environment (PESTEL)
* Globalization and Indian Economy
* Investments and developments in India
* Government Initiative
Entrepreneurship Development
Entrepreneurship development is the means of enhancing the knowledge and skill of entrepreneurs through several classroom coaching and programs, and training. The main point of the development process is to strengthen and increase the number of entrepreneurs.
LEARNING OBJECTIVES
A. To define what the business plan is who prepares it, who reads it, and how it
is evaluated.
B. To understand the scope and value of the business plan to investors, lenders,
employees, suppliers, and customers.
PLANNING AS PART OF THE BUSINESS OPERATION
Planning is a process that never ends. In the early stages, the entrepreneur should
prepare a preliminary plan. The plan will be finalized as the enterprise develops. Many
different types of plans may be part of any business operation-financial, marketing,
production, and sales plans. Plans may be short term or long term, or they may be strategic or
operational. All of these plans have one purpose: to provide guidance and structure to
management in a rapidly changing market environment.
What Is the Business Plan?
A business plan is a written document prepared by the entrepreneur that describes all
the relevant external and internal elements involved in starting a new venture. It addresses
both short- and long-term decision making. The business plan is like a road map for the
business’ development. The Internet also provides outlines for business planning.
Entrepreneurs can also hire or offer equity to another person to provide expertise in preparing
the business plan. In developing the business plan the entrepreneur can determine how much
money will be needed from new and existing sources.
WHO SHOULD WRITE THE PLAN
The business plan should be prepared by the entrepreneur; however, he or she may
consult many sources. Lawyers, accountants, marketing consultants, and engineers are useful
supplemental sources. Other resources are the Small Business Administration, Service Core
of Retired Executives, Small Business Development Centers, universities, friends, and
relatives. To help determine whether to hire a consultant, the entrepreneur needs to make an
objective assessment of his or her own skills.
HOW DO POTENTIAL LENDERS AND INVESTORS EVALUATE THE PLAN
Because the business plan should address the needs of all the potential evaluators,
software packages and Internet samples should be used only to assist in preparation. As the
entrepreneur becomes aware of who will read the plan, changes will be necessary. Suppliers
may want to see a business plan before signing a contract to supply products or services.
Customers may also want to review the plan before buying the product. The business plan
should consider the needs of these constituencies. Potential suppliers of capital will vary in
their needs and requirements in the business plan. Lenders are primarily interested in the
ability of the new venture to pay back the debt and focus on the four C’s of credit:
The entrepreneur’s credit history or character.
Their ability to meet debt and interest payments (cash flow.)
The collateral or tangible assets being secured.
PRESENTING THE PLAN
It is often necessary for an entrepreneur to orally present the business plan to investors.
Typically the Entrepreneur provides a short (20-30 m
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A fantastic PPT on the nature and concept of business. This PPT will enable the learners to understand the concepts and fundamentals of business. The PPT includes types of human activities - economic & non-economic activities, types of economic activities - business, profession, employment, features of business, multiple objectives of business, types of business activities, types of industry, classification of commerce, meaning and types of business risk.
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A fantastic PPT on a very important and scoring topic. A quick and easy explanation of the chapter Government Budget & The Economy. It has got all the material information required to enhance one's knowledge about the topic. Excellent and interesting facts. HAPPY LEARNING !!
A fantastic PPT on a very important and scoring topic. A quick and easy explanation of the chapter Money & Banking. It has got all the material information required to enhance one's knowledge about the topic. Excellent and interesting facts. HAPPY LEARNING !!
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This Gasta posits a strategic approach to integrating AI into HEIs to prepare staff, students and the curriculum for an evolving world and workplace. We will highlight the advantages of working with these technologies beyond the realm of teaching, learning and assessment by considering prompt engineering skills, industry impact, curriculum changes, and the need for staff upskilling. In contrast, not engaging strategically with Generative AI poses risks, including falling behind peers, missed opportunities and failing to ensure our graduates remain employable. The rapid evolution of AI technologies necessitates a proactive and strategic approach if we are to remain relevant.
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3. Introduction
Meaning of Business Environment
• Business environment can be defined as those
forces, individuals and institutions who have the
ability to influence the working of an organisation.
• In simple words, the business environment is the
surroundings in which business exists.
• Although these environment forces exists outside
the enterprise but they influence the business
enterprises.
• Therefore, it becomes essential for businessmen
to do environment scanning.
4. • Environment Scanning refers to complete
awareness of business environment.
• With scanning of environment enterprises can
anticipate the effect of environment forces and
factors on their enterprise.
• Business Environment provide
constraints/threats and opportunities for the
businessman.
5.
6. Features/ Characteristics of Business
Environment
1. Totality of external forces: Business environment
is the sum total of all the forces/factors external to
a business firm.
2. Specific and general forces: Specific forces
include investors, competitors, customers etc. who
influence business firm directly while general forces
include social, political, economic, legal and
technological conditions which affect a business firm
indirectly.
3. Inter-relatedness: All the forces/factors of a
business environment are closely interrelated. For
example, increased awareness of health care has
raised the demand for organic food and roasted
snacks.
7. 4. Dynamic: Business environment is dynamic in
nature which keeps on changing with the
change in technology, consumer's fashion and
tastes etc.
5. Uncertainty: Business environment is
uncertain as it is difficult to predict the future
environmental changes and their impact with
full accuracy.
6. Complexity: Business environment is complex
which is easy to understand in parts separately
but it is difficult to understand in totality.
7. Relativity: Business environment is a relative
concept whose impact differs from country to
country, region to region and firm to firm.
8. Q.1 "Demand for sarees may be high in India but
not in Europe". Which feature of business
environment is highlighted here?
9. Importance of Business
Environment
Proper understanding and awareness about the
business environment brings lots of benefits for the
businessman.
1. Identification of opportunities to get first mover
advantage: Understanding of business environment
helps an organisation in identifying advantageous
opportunities and getting their benefits prior to
competitors, thus reaping the benefits of being a
pioneer.
2. Identification of threats: Correct knowledge of
business environment helps an organisation to
identify those threats which may adversely affect its
operations. For example, Bajaj Auto made
considerable improvements in its two wheelers when
Honda & other companies entered the auto industry.
10. 3. Tapping useful resources: Business environment
makes available various resources such as capital,
labour, machines, raw material etc. to a business firm.
In order to know the availability of resources and
making them available on time at economical price,
knowledge of business environment is necessary.
4. Coping with Rapid changes: Continuous
study/scanning of business environment helps in
knowing the changes which are taking place and thus
they can be faced effectively.
5. Assistance in planning and policy formulation:
Understanding and analysis of business environment
helps an organisation in planning & policy formulation.
For example, ITC Hotels planned new: hotels in India
after observing boom in tourism sector.
11. 6. Helps in improving performance: Correct
analysis and continuous monitoring of business
environment helps an organisation in improving
its performance.
13. • Dimensions of business environment mean all the
factors, forces and institutions which have direct or
indirect influence over the business transactions.
• General environment is the most important
dimension of business environment as the
business man cannot change the components of
general environment rather he has to change his
plans and policies according to the changes taking
place in general environment.
14. I. Economic Environment:
• All the forces and factors which influence the
economy of the country.
• Has immediate and direct economic impact on a
business.
• Economic environment may offer opportunities to a
firm or it may put constraints.
• Some aspects of Economic Environment are:
▪ Rate of Interest ▪ Inflation Rate ▪ Monetary Policy
▪ Change in the Income of People ▪ GST Bill
▪ Demonetisation ▪ Banking Sector Reforms
▪ Increase in GDP ▪ Balance of Trade
▪ Balance of Payments ▪ International Debt
▪ Changes in Fiscal Policy and Economic Policy
▪ Money Supply
15.
16. II. Social Environment:
• It includes various social forces such as customs,
beliefs, literacy rate, educational levels, lifestyle,
values etc.
• Changes in social environment affect an organisation
in the long run.
• Example: Now a day’s people are paying more
attention towards their health as a result of which
demand for mineral water, diet coke etc. has
increased while demand
of tobacco, fatty food products has decreased.
• Some aspects of Social Environment are:
▪ Standard of Living ▪ Quality of Life
▪ Demand for Reservations in Jobs for Women
▪ Social Movements to Improve Girl Child Education
▪ Education and Literacy Rates ▪ Habits
▪ Demand for Equal Status of Women
17.
18. III. Political Environment:
• It constitutes all the factors related to
governments affairs such as type of government
in power, attitude of govt.
• It has immediate and great impact on the
business transactions.
• Political stability builds confidence among
business community while political instability and
bad law & order situation may bring uncertainty in
business activities.
• Some aspects of Political Environment are:
▪ Ideology of the Political Party
▪ Attitude of Government towards Business
▪ Type of Govt.-Single party or Coalition Govt.
19.
20. IV. Legal Environment:
• It constitutes the laws and legislations passed by
the Government, administrative orders, court
judgements, decisions of various commissions and
agencies.
• Businessmen have to act according to various
legislations and their knowledge is very necessary.
• Example: Advertisement of Alcoholic products is
prohibited and it is compulsory to give statutory
warning on advertisement of cigarettes.
• Some aspects of Political Environment are:
▪ Legal Policies related to Foreign Trade
▪ FEMA ▪ Companies Act, 2013
▪ Consumer Protection Act, 1986
▪ Laws to Keep Check on Advertisements
21.
22. V. Technological Environment:
• It includes forces related to scientific improvements
and innovation.
• It provides new and advance ways/ techniques of
production.
• A businessman must closely monitor the technological
changes taking place in the industry as it helps in
facing competition and improving quality of the
product.
• Some aspects of Technological Environment are:
▪ Digital Watches in Place of Traditional Watches
▪ Booking of Railway Tickets on Internet
▪ Development in IT Sector
▪ Shift from Carbon Copies to Photocopier
▪ Online Shopping
▪ Use of e-Money
23.
24. Q.2 Identify the type of dimension of environment
to the following are related:
i. Banks reducing interest rate on housing loans.
ii. An increasing number of working women.
iii. Booking of air tickets through interne.
iv. Alcohol beverages are prohibited to be advertised
on Doordarshan.
v. A stable government has built up confidence
among the firms to invest in big project.
Q.3 Just after declaration of Lok Sabha Elections
2014 results, the Bombay stock exchange's price
index (Sensex) rose by 1000 points in a day. Identify
the environmental factor which led to this rise.
25. Features of the New Economic
Policy 1991
1. Liberalization: It means freeing of Indian Industry
from all unnecessary government controls and
restrictions.
▪ Abolishing licensing requirements
▪ Freedom in deciding the scale of business
▪ Removals of restriction on movements of goods and
service
▪ Reduction in tax rates
▪ Freedom in fixing prices
▪ Simplifying procedures, making it easier to attract
foreign investment.
▪ Liberalisation in import and export
26. 2. Privatization: Giving greater role to private sector
in the nation building process and reduced role of
public sector.
▪ Disinvestment in many Public Sectors undertaking
etc.
▪ Setting up of BIFR to revive sick units in public
sector enterprises suffering losses.
▪ It aimed at improving efficiency and performance of
government undertakings, reducing budgetary deficit
& better utilization of national resources.
27. 3. Globalization: It means integration of various
economies of the world leading to the emergence of
cohesive global economy.
• The measures taken by the Government include
▪ Trade liberalization which includes import
liberalization
▪ Export Promotion through rationalization of tariff
structure
▪ Foreign exchange liberalization
▪ Increased interaction among global economies
under the aegis (protection/support) of WTO.
▪ It resulted in addition of Export duty. Reduction
of import.
28. Impact of Government Policy Changes on
Business and Industry
1. Increasing Competition: Delicencing and entry of
foreign firms Indian market is increased the level of
competition for Indian firms.
2. More Demanding Customers: Now customers are
more aware and they keep maximum information
of the market as the result of which now market is
customer/buyer oriented. Now products are produced
keeping in mind the demands of the customers.
3. Rapid Changing Technological Environment:
Rapid Technological advancement has
changed/improved the production process as a result
of which maximum production is possible a minimum
cost but it lead to tough challenges in front of small
firms.
29. 4. Necessity for Change: After New Industrial. Policy the
market force (demand & supply) are changing at a very
fast rate. Change in the various components of
business environment has made it necessary for the
business firms to modify their policies & operations
from time to time.
5. Need for Developing Human Resources: The
changing market conditions of today require people
with higher competence and greater commitment;
hence there is a need for developing human resources
which could increase their effectiveness and efficiency.
6. Market Orientation: Earlier selling concept was
famous in the market now its place is taken by the
Marketing concept. Today firms produce those goods &
services which are required by the customers.
Marketing research, educational advertising, after sales
services have become more significant.
30. 7. Reduction in budgetary Support to Public
Sector: The budgetary a support given by the
government to the public sector is reducing thus
the public sector has to survive and grow by
utilising their own resources efficiently.
31. Managerial Response to Changes in
Business Environment
1. Diversification: The first response seen after new
policy is the companies are going for diversification.
Even companies like Reliance, Voltas, LG,
Samsung are diversifying their activities by adding
more products in their portfolio.
2. Joint Venture: Most of the MNC’s came to India
through joint venture. For example, Jaguar enters
with TATA Motors, Honda enters with Siel; Vodafone
merged with Idea, etc.
3. Brand Building: After NEP the brand building,
goodwill and image of company has become an
important element for promotion of company.
32. 4. Use of Latest Technology: To get the first mover
advantage companies are trying to get the latest
technology first in their product. The expenditure on
research & development department is increased by
all the companies.
5. Customer Focus: The focus of market is totally
shifted from producer to consumer. Today consumer
is the keep in the market all companies are coming
with various schemes to attract the consumers.