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Introduction and definition of Business Emergence in the 21st century The concept of Business environment & its types Scanning the business environment & its need Various Techniques of scanning Any 1 assignment of the given two
Rules for assignment:
Submit any 1 assignment given in slides of your choice as a hardcopy in not less than 400 words.. May work as a group or individual but Be prepared for the viva individually.. Date of submission is 12th April 10¶
Capital Providing Goods & Services (customer) Needs a Market (Demand) Expecting a Return on Investment (Profit)
³A commercial activity engaged in service & expecting profit´
Business in 21st Century
As time passed Businesses across countries expanded. As contrast from earlier Business was more on sharing than protectionism. High focus was given on Cost reduction and customer orientation.
Concept of Business
The modern business enterprise is a social and economic institution.. As per peter drucker, the aim of business is to create a customer. The customer is the master and to serve him well is the only purpose of business. It cant survive without customers.
Globalization, Deregulation, Amendments of laws & acts Globally. Evolution of IT, specially e-commerce. Cost reducing channels (Outsourcing) Sharing knowledge centre & technology transfer Social Responsibility consciousness
Concept of Business Environment
An environment can be defined as anything which surrounds a system. Therefore, the business environment is anything which surrounds the business organization. It affects the decisions, strategies & performance of the business.
Types of Environment
Internal Environment or Micro Environment. External Environment or Macro Environment
What it means?
The micro environment consists of customers, employees, suppliers, competitors, Mgt. and creditors. The macro environment consists of factors which are beyond the control of the business ± Economic, Social/Demographic, Natural/Cultural, Legal, Technological, Political & International.
Scanning Business Environment
Analyzing Business environment (Internal & External both) and following decision making. Analysis could be done by an investor, shareholder, competitor, company itself, government etc.
Need to scan Environment
To get updated on various issues that affects business Investments point of view Caution before approach
Techniques of Scanning
Verbal and written communication Spying Market Research, Forecasting and studies. Various sources like print, media, websites, search engines, hearsay. Databases & proper research at higher levels.