Relation between business & enviornment
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This document discusses the relationship between business and the environment in the Indian business context. It defines business as organized efforts to supply goods and services for profit. The goals of business include profit, growth, quality products, and market leadership. The business environment comprises internal and external factors that influence a company's operations, including clients, suppliers, competition, technology, laws, and economic/social trends. The environment poses threats and opportunities. Key environmental factors are social/cultural, political, legal, demographic, economic, and technological. The relationship between business and the environment is symbiotic - environmental forces change over time and influence businesses, while businesses can work together to influence their environment.
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The document provides an overview of business and its environment. It discusses [1] the nature of business, goals of business, and trends in modern business. It then covers [2] the importance of corporate governance, social responsibility, and business ethics. Finally, it analyzes [3] the different factors in a business environment and how businesses must analyze and respond to changes in their external environment.
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Business environment refers to all external and internal factors that influence a business. It includes factors within a company's control (internal) as well as outside its control (external). The external environment includes economic, social, political, technological, and legal factors; while the internal environment includes employees, management, organizational structure, and resources. Understanding the business environment is important for planning, improving performance, and adapting to changes. It helps businesses evaluate opportunities and threats from competitors, new technologies, and other macro trends.
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- 1. RELATIONSHIP BETWEEN BUSINESS & ENVIORNMENT INDIAN BUSINESS ENVIRONMENT Submitted By: DHANANJAY SINGH
- 2. CONTENTS C1 Business C2 Business Goals C3 Business Environment C4 Types of Business Environment Factors C5 Environment – Business Relations
- 3. C1.BUSINESS? • Business may be understood as the organized efforts of enterprise to supply consumers with goods and services for a profit. • Businesses vary in size, as measured by the number of employees or by sales volume. But, all businesses share the same purpose: to maximise profits.
- 4. C.2 BUSINESS GOALS • Profit • Growth • Power • Employee satisfaction and development - Business is people. • Quality Products and Services - Persistent quality of products earns • Market Leadership • Challenging • Joy of creation • Service to society
- 5. C.3 BUSINESS ENVIRONMENT • The combination of internal and external factors that influence a company's operating situation. • The business environment can include factors such as: clients and suppliers; its competition and owners; improvements in technology; laws and government activities; and market, social and economic trends. • The business environment poses threats to a firm or offers immense opportunities for potential market exploitation.
- 6. .
- 7. . • Social and culture Environment It refers to people’s attitude to work and wealth; role of family, marriage, religion and education; ethical issues and social responsiveness of business. • Political Environment A stable and dynamic political environment is indispensable for business growth.
- 8. .• Legal Factors Legal factors relate to new laws or directives governing how businesses behave. This can be in relation to other businesses, customers or the environment. • Demographic Factors Demographics play a crucial role in the success of businesses, as learning consumer characteristics helps a business owner determine what products and services to create and how to market them.
- 9. . • Economic Environment Business obtains all its needed inputs from the economic environment and it absorbs the output of business units. • Technological Environment Technology changes fast and to keep pace with it, businessmen should be ever alert to adopt changed technology in their businesses.
- 10. C5.ENVIRONMENT – BUSINESS RELATIONS • There is symbolic relationship between business and its environment and among the environmental factors. • These environmental forces are dynamic. They keep on changing as years roll by, so does business. • A particular business firm, by itself, may not be in a position to change its environment. But along with other firms, business will be in a position to mould the environment in its favor.