2. Business Environment
It is the sum total of all individuals, institution and other forces that
are outside the control of business enterprise but affects the
performance of the business.
Meaning:
3. Features of Business Environment
• Totality of external forces
• Dynamic Nature
• Complexity
• Uncertainty
• Specific and general forces
11. Economic Environment in India
Till 1991 India followed an economic policy with a
socialist basis.
The policy was based on the primacy of public sector and
control and regulations on private sector
13. Liberalization
Liberating the economy from the regulations and
restrictions on economic growth.
The new policy of liberalization through de-licensing and de-controls
frees the economy from restrictions.
14. Privatization
It refers to greater role to private sector and decreasing the role of
public sector.
Its means allowing the private sector to come foreword for establishing
more Industries in private sector.
15. Globalization
Globalization means free movement of goods, capital and labour across the
globe.
Its means linking the economy of a country and free trade and free mobility
capital and labour etc.
17. Demonetization
Govt. of India made an announcement on Nov 8, 2016 that the two largest
denomination notes Rs.500 and Rs.1000 were demonetized.
The aim of demonetization was to curb corruption, fake notes, use of
currency for illegal activities like terrorism, accumulation of black money
generated by income that has not been declared to the tax authorities.