Business Environment

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

Course Objectives:

This course will enable the 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

 

Course Outcomes:

Course

Course outcome (at course level)

Learning and teaching strategies

Assessment Strategies

Paper Code

Paper Title

MTM 224

Business Environment

CO 1Explain the concept of business environment.

CO 2Identify types of political system.

CO 3Analyse various aspects of economic environment and economic policies of the country.

CO 4 Describe the relevance of technological and societal environment in today’s globalized world.

CO 5Recognize the international business environment by identifying the role and functions of various international institutions.

Approach in teaching:

Interactive Hours, 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: 
UNIT I

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: 
UNIT II

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: 
UNIT III

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: 
UNIT IV

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: 
UNIT V

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: 

Suggested 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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