Business Environment

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

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 71: Distinguish different types of Business Environment

CO 72: Differentiate the types of political system

CO 73: Analyze various aspects of economic environment and economic policies of the country.

CO 74: Analyze the relevance of technological and societal environment in today’s globalized world.

CO 75: 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 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: 
-

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- 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- 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 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- 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: 
2021-2022
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