SWAYAM MOOC:

Business Environment

Week 1
Video 1
Business Environment: Concept

Welcome Learners!!
All set to gain a new insight towards learning. So today we start with our formal journey
towards the course but in an informal way. We will learn through recreation, pleasure and
participation.

What do you think about business?

If you think that:
• Business provides goods and services to society
• It provides employment opportunities
• It creates a better quality of life and
• It offers economic growth to the country
Then you are on the right track.

Do we know that in business?

• In business there is Exchange of goods and services, but what is the purpose?
• Profit motive is behind almost all businesses except a few like non-profit organisations
• Entrepreneurship and Risk are involved in all business, are you ready to take the risk? Up
to what extent are for able to handle the risk in your business?
• How would you strategise to minimize the risk in your business?
• Innovation and research help in sustainability in business through Continuity in dealings
and Customer satisfaction.

The surroundings and circumstances influencing any business entity or a person are referred to
as environment. Other factors influencing the working and decision making of any
organisation are comprehensively known as Business Environment.

Business environment refers to those aspects of the environment which affect the functioning
of the business organisation.

We know that Business Environment is complex because it has a lot of factors, trends, issues
events, which interact with each other and influence others also.

Business Environment is dynamic as it keeps changing.

Copyright © Dr. Chhavi Jain. All rights reserved 1

SWAYAM MOOC:
Business Environment

The same environment has different effects on different industries. For example, recently
during COVID-19 pandemic a lot of industries have been affected due to this situation.
but aviation and tourism industry had been affected severely. So, it can be said that the Business
Environment is multi-faceted.

Business environment affects different types of Business Organisations in a unique manner and
with this I end up here.
See you haven’t realised and learning just happened. So, what say, shall we continue the same
way? Stay tuned for another session on types of business organisations.
Keep Learning!!

Copyright © Dr. Chhavi Jain. All rights reserved 2