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  • INSTITUTE - University School of Business DEPARTMENT - Management M.B.A

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    Asrar ul haq
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    The document provides information about the business environment course at University School of Business. It outlines the learning objectives and outcomes which are to understand fundamental concepts and how different components influence business. It also discusses how the global environment affects domestic businesses. The document then focuses on economic systems, describing capitalism and its key aspects like private ownership, free markets, and limited government intervention. It highlights advantages such as efficient allocation of resources but also shortcomings like income inequality, environmental exploitation, and economic instability. Assessment includes exams, assignments, quizzes, and class participation.

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    Original Title

    Lecture Topic 5

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    The document provides information about the business environment course at University School of Business. It outlines the learning objectives and outcomes which are to understand fundamental concepts and how different components influence business. It also discusses how the global environment affects domestic businesses. The document then focuses on economic systems, describing capitalism and its key aspects like private ownership, free markets, and limited government intervention. It highlights advantages such as efficient allocation of resources but also shortcomings like income inequality, environmental exploitation, and economic instability. Assessment includes exams, assignments, quizzes, and class participation.

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    1 views14 pages

    INSTITUTE - University School of Business DEPARTMENT - Management M.B.A

    Uploaded by

    Asrar ul haq
    The document provides information about the business environment course at University School of Business. It outlines the learning objectives and outcomes which are to understand fundamental concepts and how different components influence business. It also discusses how the global environment affects domestic businesses. The document then focuses on economic systems, describing capitalism and its key aspects like private ownership, free markets, and limited government intervention. It highlights advantages such as efficient allocation of resources but also shortcomings like income inequality, environmental exploitation, and economic instability. Assessment includes exams, assignments, quizzes, and class participation.

    Copyright:

    © All Rights Reserved
    Download as PPTX, PDF, TXT or read online from Scribd
    Flag for inappropriate content
    of 14

    INSTITUTE –University School of

    Business
    DEPARTMENT -Management
    M.B.A
    Business Environment – BAO 610
    Faculty Name : Reepu
    (Assistant Professor)
    UNIT-1 DISCOVER . LEARN . EMPOWER
    Business Environment

    1
    LEARNING OBJECTIVES & LEARNING OUTCOMES

    After studying this chapter, you should be able to:

    • Understanding the different economic systems.


    • Exploring various economic systems effect on business
    https:// IMS Proschool

    Business
    Environment
    Course Outcome
    CO Title Level Will be covered in this
    Number lecture

    CO1 To understand fundamental concepts of business Remember


    environment.  
    CO2 To comprehend how distinct components of business Understand
    environment influence on business.  

    CO3 To interpret how global business environment affects Understand


    domestic businesses

    3
    Topic – 5
    Economic Systems

    Source : Windsearch 4
    Capitalism
    In a capitalist economy, the main responsibilities performed by the government are
    as follows:
     
    a. Developing and sustaining the free market mechanism system

    b. Eliminating any kind of restrictions on the working of free competitive market

    c. Increasing the effectiveness of free competitive market system through various


    measures
    Government tries to implement following in Capitalist
    structure
    • Regulating and controlling various economic situations
    • Controlling the power
    • Possessing the ownership of public utilities
    • Prohibiting discrimination
    • Limiting restrictive trade
    • Maintaining law and order,
    • Supporting private ventures
    • Creating central planning body
    Advantages of Capitalism

    • Reduced lethargy
    • Efficient Allocation of Resources
    • Efficient Production
    • Dynamic Efficiency
    • Financial Incentives
    • Creative destruction
    • Economic freedom helps political freedom
    • Mechanism for overcoming discrimination and bringing people
    together
    • Different types of capitalism
    • Rising living standards.
    Shortcomings of Capitalism
    The current state of capitalism is having following issues:

    • Proposes little or no solution to persistent poverty

    • Generates a growing level of income inequality

    • Fails to pay a living wage to billions of workers

    • Not enough human jobs in the face of growing automation

    • Doesn’t charge businesses with the full social costs of their activities

    • Exploits the environment and natural resources in the absence of regulation


    Shortcomings of Capitalism
    • Creates business cycles and economic instability
    • Emphasizes individualism and self-interest at the expense of community and
    the commons
    • Encourages high consumer debt and leads to a growing financially-driven
    rather than producer-driven economy
    • Lets politicians and business interests collaborate to subvert the economic
    interests of the majority of citizens
    • Favors short-run profit planning over long-run investment planning
    Shortcomings of Capitalism

    • Tends to focus narrowly on GDP growth

    • Needs to bring social values and happiness into the market equation

    • Should have regulations regarding product quality, safety, truth in

    advertising, and anti-competitive behavior


    References

    Text book:
    • Paul, J. 2018. Business Environment: Text and Cases, 4thEdition, Tata McGraw
    Hill, India,

    • Cherunilam, F. 2017. Business Environment: Text and Cases.26thEdition,


    Himalaya Publishing, India, ISBN: 978-9352733361.
    Text book:
    • Business Environment, 13th Edition, Pearson Education India, India, ISBN:
    9788131731581.
    Assessment Pattern

    Components HT-1 HT-2 Assignment Surprise Test Business Quiz GD Forum Attendance Scaled
    Marks

    Max. Marks 10 10 6 4 4 4 2 40

    13
    THANK YOU

    For queries
    Email: reepu.usb@cumail.in

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