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Published 24.03.2014 | Author : admin | Category : What Do Women Want In A Man

External Environment: Those factors which are beyond the control of business enterprise are included in external environment.
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I see this article or piece of writing about the business environment to be the best on all the search engines. I really like how the topic was explained, in fact it really helped me in making note on the topic. I’m preparing for examination and have no time to go into bulky notes which is time consuming and sometimes, very difficult to comprehend. Complete the form below to receive an email with the authorization code needed to reset your password. Business environment consists of the external forces which affect the functioning of a business enterprise.
The examples are invention of new technique of production, replacement of a minister in the Government, changed in industrial policy, revision of borrowing and lending rates by the Reserve Bank of India, and so on.
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Umbrella Protect Earth with Environmental Arrows, icon isolated on white background, vector illustration. Therefore, Business Environment may be defined as a set of conditions – Social, Legal, Economical, Political or Institutional that are uncontrollable in nature and affects the functioning of organization. These factors are: Government and Legal factors, Geo-Physical Factors, Political Factors, Socio-Cultural Factors, Demo-Graphical factors etc. These factors include: attitude of people to work, family system, caste system, religion, education, marriage etc.
Everyday there has been vast changes in products, services, lifestyles and living conditions, these changes must be analysed by every business unit and should adapt these changes.
Every business unit must look for these factors before choosing the location for their business. The factors that affect the business are: Globalisation, Liberalisation, foreign business policies, cultural exchange. But it can get better if you guys can add the importance of business environment to this article. These include economic, political, social, technological and global or international forces as of the business enterprises are not influenced directly by the general forces. These include customers, owners and investors, suppliers, creditors, employees, trade unions, competitors, governments, etc.
When the environmental forces do not show a significant change, they are termed as stable or static environment. It represents the sum total of all the external forces that have influence on the working of a business system. Specific environment (such as investors, customers, competitors, suppliers, etc.) affects the business directly.
For example, a change in economic environment may be unfavourable for one business and unfavorable for another. For instance, economic environment in India in the pre 1991 era and the post 1991 era can be distinguished clearly. These factors are uncontrollable and the company is powerless and incapable of exercising any control over them.Macro environment can be classified into economic environment and non-economic environment. The word Business in its economic sense means human activities like production, extraction or purchase or sales of goods that are performed for earning profits. Business can make changes in these factors according to the change in the functioning of enterprise.
Every business unit must see these features of population and recongnise their various need and produce accordingly.
It should be noted that every business unit also has internal environment which includes production, finance, marketing, personnel, legal, etc. But big enterprises are many a time directly influenced by the general external environment forces such as, introduction of new technology, trends in international business, trade policies of foreign governments, etc.


But general environment (such as social, political, international, economic forces, etc.) affects the business both directly and indirectly. The present day economic environment of business is a mixture of national and international environments.
The existing economic environment of business is highly complex and it is not easy to comprehend it. It is the reason the firms operating in the same economic environment often take different decisions.The business sector has economic relations with the government, capital market, and household sector. Individually business firms can do little to change their economic environment.But collectively business firms can do a lot to make economic environment conducive to their activities. In India, the Confederation of Indian Industry (CII), the Federation of Indian Chamber of Commerce and Industry (FICCI) and the Associated Chambers of Commerce and Industry of India (ASSOCHAM) are powerful organisation of the business. There are a number of economists and businessman who feel that the developed countries are no longer worthwhile propositions for investment because there economics have reached more or less saturation levels in certain respects.The low income may be the reason for very low demand for a product in a country.
The sale of a product for which the demand is income elastic naturally increases with an increase in income. But the firm is unable to increase the purchasing power of the people to generate a higher demand for its product.Hence it may have to reduce the price of the product to increase the sales.
The reduction in the cost of production may have to be effected to facilitate price reduction. Study and knowledge of economic forces is essential for preparing effective business plans. Anticipation of future economic conditions will enable the firm to devise appropriate strategies.The economic policy of the government has a very great impact on business. Some categories of business are favourably affected by government policy, while some adversely affected. Those factors may be foreign policy, international treaties and foreign investment policy and various acts which are concerned with the dealings with other countries in trade matters. The increasing domestic competition is compelling many companies to pursue International Trade.
Normally the non­economic environmental factors are the key factors for all kinds of business activities in India. Basically the class structure in the society depends upon the occupation of people and their income levels.In rural areas, the occupational groups consist of farmers, artisans and traditional craft workers. The urban areas are comprises of doctors, engineers, lawyers, software professionals, industrial workers, government servants as well as business people.The mobility among such people is compared to be high. In an urban social setting, business growth and development is based on modern social groups, and social institutions. But on the other hand, the rural society is also more demanding as regards the social responsibilities of business.The term ‘culture’ includes values, norms, facts, and behaviour patterns.
Every Society in India develops it s own culture over a time and this culture determines, how its members behave and interact with each other.
Since the society is a collection of the organisations and social institutions, it is evident that they are affected to a considerable degree by cultural forces in the environment.The social norms are those standards that mould behaviour, attitudes, and values of those members who constitute a society. They are standards, because members take them into account in their decisions and behaviour. In other words, one can say that behaviour and attitude actually reflect the prevailing norms within a society or an organisation.Every organisation develops its own internal culture. The management or managers generally to create, that will help to maintain a common behaviour.
Each of these legs plays an important part in the life of an organisation.In a modern business, social and cultural forces usually influence the welfare of a business concern in the long run. The nature of goods and services in demand depends upon the changes in habits and customs of people in the society.
With rise in population the demand for household as well as other goods has increased.The nature of food and clothing pattern has also changed to a great extent. Tea and coffee cultivators are preferred to be located in hill regions, where the climate is suitable for cultivating the crops.The people tend to have similar tastes in a particular geographical region.
Thus, the product very much consumed by South Indian people, may not find buyers in northern India, because of regional differences.Also, the availability of raw materials like minerals and other products in a particular geographical region affects locational decisions of a business.


The manufacturing units and factories, for instance, will not be suitably located in the hilly regions for difficulties in transport, unless raw materials availability or suitable climatic conditions justify its location in that region. Therefore, every business must take measures to protect the environment rather than damaging it. We are also suffering from various diseases because of such lower quality of environment.When the quality of environment deteriorates, it is said that the environment is getting polluted. Drainage of toxic substances like chemicals and fertilizers used in cultivation, into streams and rivers.4. In industrial centres, with the working of the engines, rotary drills, riveters, pumps, motors, compressors, vibrating screens.3.
For this, business must follow the regulations laid down by the government to control pollution.
In addition, if it is not possible to prevent pollution then simultaneous curative measures can be taken. So that they voluntarily try to protect rather than damage the environment.For example, business can undertake public awareness programmes. Now a day’s some business houses have taken the responsibilities to develop and maintain parks and gardens in cities and towns, which show that they care for the environment.3. However, the improved transport facilities has enabled the buyers to shop at distant places, the sellers may therefore sometimes find that accommodation in thickly populated areas may be and they may instead offer goods and services at substantially lower prices by locating themselves a little away, thus attracting more customers.The policy of balanced regional development prompts the government to offer infrastructure and basic facilities at cheaper rates to attract business in backward regions. This is turn benefits the business, not only in terms of lower cost of such facilities but also the labour available at lower rates.It also helps to develop all the ancillaries and supporting business.
Besides, the government always looks to the demographic considerations in terms of their licensing policy.Manufacturing units, particularly those which cause air or noise pollution are not permitted to operate in congested areas.
Keeping these forces in mind, world thinkers have expressed their concern over whether the physical environment is being irreparably damaged by the industrial and other business activities of today’s modern nations.Environmentalism has now sprung up. Every nation is trying to conserve and recycle their natural resources through legislation and vigorous campaign.
It is because the world is about to face crisis on may counts if current rate of consumption of materials continues without check. Generally it is felt that the technological aspect of competition varies with customer needs and government policy. Foreign technical collaborations are popular in India but subjected to strict regulation regarding indigenization, impact on local technological development and employment export commitments etc.The technological developments are strong and pervasive force in the business environment. It also has very strong, direct effects on such business activities as production, product development, employment, finance, marketing and information, processing. The effects of technology on these activities can be extremely beneficial or extremely harmful to business organisations.Normally, technological advancement always leads to improvement in the process of production, transportation and communication.
Change in technology is mostly associated with better service and cost efficiency.In recent years, information processing and storage with the use of computers and telecommunication facilities have developed rapidly. Now a day’s electronic appliances have replaced electrical equipment vary widely.Business activities are bond to suffer if enterprises do not adopt up-to-date technology as and when necessary. In the present world, government intervention in business activity is a hard fact.Under a democratic set up, the ideology of the ruling party influences ownership, management and size of a business.
The rightist inclination of the ruling party will formulate liberal pro-business policies while its leftist inclination will accept measures like nationalisation and expansion of the public sector.Political stability of the country is another factor which affects business activities. All business firms are affected greater or lesser level by government programmes at central, state or local bodies changes in such programmes are usually the result of shifts in the political weather arising from changes in the attitudes, preferences and objectives of voters and political leaders. Business law is the complex system of regulation that forms the legal environment of business. However the legal environment is becoming so complex that many laws are only partially understood.The legal environment is also referred to as public policy environment. The vast governmental network of laws and regulations, policy decisions, government bureaucracy, and the legislative processes have raised impact on Business decisions.



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