Business Environment

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

Course Objectives:

This course helps students to

  1. Understand the overall business environment covering economic, political, social and global scenarios
  2. Learn and evaluate various components of business environment in business decision making with the understanding of concept of malls, maintenance and management concepts.

 

Course Outcomes (COs):

Learning Outcomes (at course level)

Learning and teaching strategies

Assessment Strategies

 
 

The student will be able to-

  1. Explain the concept of business environment.
  2. Identify types of political system.
  3. Analyze various aspects of economic environment and economic policies of the country.
  4. Describe the relevance of technological and societal environment in today’s globalized world.
  5. Recognize the international business environment by identifying the role and functions of various international institutions.

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

 

 

12.00
Unit I: 
Business Environment-

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-

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 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-

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 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: 

• 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: 
2020-2021
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