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Business Environment
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 MHR 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 Lectures, Group Discussion, Tutorials, Case Studyc Learning activities for the students: Self-learning assignments, presentations Class test, Semester end examinations, Quiz, Assignments, Presentation
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.
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).
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.
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.
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.
