Books On Business Environment
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Global Business Environment Textbook
External environment consists of those factors that affect a business enterprise from outside. Apart from micro environment, business firms face large external environmental forces. By their careless attitude they caused pollution of environment, nigerian music videos for especially air and water which posed health hazards for the people.
Pearson Education - Business Environment/Business Functions Books
For example, advertisement by business firms may be nasty and hurt the ethical sentiments of the people. Thus, a business organization is a dynamic entity because it operates in a dynamic business environment. Business environment refers to these surroundings of business enterprise which affect its operation and determines its effectiveness. Some are close and internal forces whereas others are external forces.
Sometimes there has been price war between them to capture new markets or enlarge their market share. For example, a car manufacturing firm such as Maruti Udyog has individuals, companies, institutions, government as its customers.
The labour force in a country is always changing. External environment is generally classified into micro environment and macro environment. External environment includes shareholders, competitors, customers, society, government laws and regulations, policies and technology.
They change their internal business components internal environment to grasp the external opportunities and face the external environmental threats. The business firms have to adjust to the requirements of their employees. Demand Force and Competitive Force. Political forces will decide the nature of business, programmes and projects to be undertaken for the development of the country. At the same time, the firm has to complete with the rival firm producing similar products or substitute products.
The German economist and philosopher further argues that innovations that solve a problem but degrade the environment or society are of no benefit. Today chiefly discussed in the context of developing countries, this classic deserves new readers in U.
The best of these books combine concrete practices and provocative proposals with personal vision and a sense of urgency. Business firms compete with each other not only for sale of their products but also in other areas. An efficient working of a business organisation requires that the organisation structure should be conducive for quick decision-making.
Different firms in an industry compete with each other for sale of their products. Thus, marketing is an important link between a business firm and its ultimate buyers.
The firm should identify sue weakness so as to correct them as early as possible. Demographic environment is also important for business firms as it determines the choice of technology by them. Every manager would like its performance to be positively appraised.
Because of the uncontrollable nature of macro forces a firm has to adjust or adapt it to these external forces. Price cutting or price reduction is a method which has to be adopted very cautiously, as it may ultimately lead to price-war between firms competing, resulting in reduction of profits. These enterprises do not loose emerging opportunities to their competitors. Corporate culture is an important factor for determining the internal environment of any company. The analysis of the internal environment helps to identify strength of the firm.
DOC) Business environment
Good corporate governance should be judged not only by the productivity and profits earned by a business firm but also by its social-welfare promoting activities. In all these cases, the business manager has to take quick decisions to adopt his business to the changed environment. This competition may be on the basis of pricing of their products. Thus, the existence of various types of publics influences the working of business firms and compels them to be socially responsible. There are different levels of environmental forces.
They can also eliminate procedure complexities in a visible way. The technical and education skills of the workers of a firm are determined mostly by human resources available in the economy which are a part of demographic environment. He adopts a jargon-free style and presents the subject matter logically, from elementary to complex concepts to engage the student completely.
It is also crucial to take care of the various ethical issues involved in running a business. An important factor in the external micro environment of a firm is the supplier of its inputs such as raw materials and components. Advertisements in modern days have become a very powerful tool in persuading the consumers of a product to a particular brand. These economic forces, can be divided into two categories, ie.
Activities of business firms may harm the physical environment and impose heavy social costs. Environment opens new opportunities for the expansion of business activities.
Business Environment Types (External Micro and External Macro)
Technology affects the business in two ways. It may however be noted that resource availability is not a sufficient condition for the growth of production and business activities.
Expectation of a further change in price or change in taxes will also affect the demand. It is the economic and social organ of the society. For example, the availability of minerals such as iron, coal etc.
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