Business Environment

Paper Code: 
MFM 224
Credits: 
4
Contact Hours: 
60.00
Max. Marks: 
100.00
Objective: 

Course Objective:

This paper helps to understand the overall business environment and evaluate its various components in business decision making.

 

Course Outcomes:

Course

Learning outcomes

(at course level)

Learning and teaching strategies

Assessment

Strategies

Paper Code

Paper Title

MFM 224

Business Environment

CO71: Distinguish different types of Business Environment

CO72: Differentiate the types of political system

CO73:Analyze various aspects of economic environment and economic policies of the country.

CO74: Analyzethe relevance of technological and societal environment in today’s globalized world.

CO75:Analyze the international business environment by identifying the role and functions of various international institutions.

CO 76: Analyze the macro and micro environment of business.

Approach in teaching:

Interactive Lectures, Group Discussion, Tutorials, Case Studyc

 

Learning activities for the students:

Self-learning assignments, presentations

Class test, Semester end examinations, Quiz, Assignments, Presentation

 

12.00
Unit I: 
Business Environment & Environment Analysis & Forecasting

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.

12.00
Unit II: 
Political environment & Legal Environment

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).

12.00
Unit III: 
Economic environment & Economic Policies in India

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. 

12.00
Unit IV: 
Technological Environment & Societal Environment

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.

12.00
Unit V: 
International Business Environment & International Financial Institutions- International Monetary Fund

International Business Environment- 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. 

Essential Readings: 

BOOKS RECOMMENDED:-

  • Justin Paul, Business Environment, Tata McGraw Hill Publishing Co. Ltd., 2008
  • Francis Cherunillam, Business Environment, Himalaya Publishing House.V.
  • Shaikh Saleem, Business Environment, Pearson Education, 2009
  • K. Chidambaram and V. Alagappan, Business Environment, Vikas Publication House Pvt Ltd, 2009
  • Neelamegam, Business Environment

 

Academic Year: 
2021-2022
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