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BUSINESS ENVIRONMENT
This course will enable the students will be proficient in critically analyzing the complexities of the global business environment, including the roles and functions of international institutions, and will demonstrate a comprehensive understanding of the macro and micro factors influencing business operations worldwide and locally.
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Course Code |
Course title |
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24MBAS224 |
Business Environment (Theory) |
CO74: Examine and differentiate between various types of business environments CO75: Analyze the different types of political systems, elucidating their structures, ideologies, and implications on governance and societal dynamics CO76: Evaluate different facets of the economic environment and analyze the economic policies of the country, considering their impacts on various sectors and stakeholders. CO77: Analyze the relevance of technological and societal environment in today’s globalized world. CO78: Examine and analyze the global business environment, including the roles and functions of international institutions, and evaluate the macro and micro factors influencing business operations on both global and local scales. CO79: Contribute effectively in course-specific interaction |
Approach in teaching: Interactive Lectures, Group Discussion, Tutorials, Case Study Learning activities for the students: Self-learning assignments, presentations |
.Class test, Semester end examinations, Quiz, Assignments, Presentation |
Business Environment: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
Political environment: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).
Economic environment: 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 Environment :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
*Case studies related to entire topics are to be taught.
· Francis Cherunillam, Business Environment, Himalaya Publishing House.V.
· Shaikh Saleem, Business Environment, Pearson Education, 2009
· Justin Paul, Business Environment, Tata McGraw Hill Publishing Co. Ltd., 2008
· K. Chidambaram and V. Alagappan, Business Environment, Vikas Publication House Pvt Ltd, 2009
E Resources:
· INTERNATIONAL BUSINESS ENVIRONMENT, McGraw Hill Education, Bookshelf - McGraw Hill Education (India) Pvt Ltd (mheducation.com), Mcgraw2020
Journals:
· Business Perspectives and Research
· Global Business Review
· South Asian Journal of Business and Management Cases
