Business Environment
Semester 1 · 16 topics in 5 units
Unit I 3 topics
- Business: meaning, scope and objectivesWhat business is, its features, the scope of modern business (industry and commerce, trade and the aids to trade), and its economic, social, human, national and global objectives, with Drucker's key result areas.5 min
- Micro and macro environment of businessThe meaning of business environment, the internal environment, the micro environment of suppliers, customers, competitors, intermediaries and publics, and the macro factors: economic, political-legal, socio-cultural, demographic, technological, natural and international.5 min
- Environmental analysis for business decision-makingWhy firms scan their environment, the four-stage process of scanning, monitoring, forecasting and assessment, techniques of environmental forecasting, SWOT and ETOP, the advantages and limits of analysis, and the steps of business decision-making, with a worked SWOT.5 min
Unit II 4 topics
- Sole proprietorship, partnership and limited liability partnershipFeatures, merits and limitations of the sole proprietorship; the partnership firm under the Indian Partnership Act, 1932 with its kinds of partners and merits and demerits; limited partnership; and the LLP under the LLP Act, 2008, with comparison tables.5 min
- The joint stock company and its classificationDefinition and features of a company under the Companies Act, 2013, its merits and demerits, the classification of companies by incorporation, liability, number of members, control, ownership and nationality, and comparison tables of public and private companies and of partnership and company.5 min
- Co-operative societiesMeaning and principles of co-operation, features of a co-operative society, its types (consumer, producer, marketing, credit, housing and farming), merits and demerits, and the constitutional and statutory framework after the 97th Amendment.4 min
- Public enterprisesMeaning and objectives of public enterprises, their three forms (departmental undertaking, statutory corporation, government company), features, merits and demerits, the Ratna categories, and the change in policy from the 1956 Resolution to disinvestment and the 2021 public sector enterprise policy.4 min
Unit III 3 topics
- Pre-reform scenario and the New Economic Policy, 1991The planned, licence-controlled economy from 1951 to 1991, the balance of payments crisis of 1991, the objectives and main measures of the New Economic Policy in industry, trade, the external sector, finance and the public sector, and an assessment of its results.5 min
- Liberalisation, privatisation and globalisationMeaning, measures, merits and criticism of each of the three components of the 1991 reforms: liberalisation (removing controls), privatisation (reducing the State's role through disinvestment and strategic sale) and globalisation (integrating with the world economy).4 min
- Multinational companies, competitive markets and trends in international businessWhat a multinational company is, its features, forms of entry, advantages and disadvantages, and its effects on the Indian economy; the competitive market under the Competition Act, 2002; and current trends in international business and their impact on India.5 min
Unit IV 4 topics
- Technological environment and its impact on business decisionsMeaning of technology and the technological environment, the factors that shape it, its impact on products, production, marketing, finance, human resources and decision-making, its negative effects, technology transfer, and India's digital public infrastructure.4 min
- Social responsibility of businessMeaning of social responsibility, Bowen, Friedman and Carroll's pyramid, why businesses accept social responsibility, the arguments against it, responsibilities to shareholders, employees, consumers, suppliers, government and the community, and mandatory CSR under section 135 of the Companies Act, 2013.4 min
- Business ethics, work ethics and work cultureMeaning and principles of business ethics, the arguments for and against it, unethical business practices, how firms build ethics, and the factors that influence work ethics and work culture in an organisation.5 min
- Corporate governanceDefinition and principles of corporate governance, its functions, the factors that influence it, the arguments for and against, the Indian committees from CII to Kotak, and the governance rules of the Companies Act, 2013 and SEBI's LODR Regulations.4 min
Unit V 2 topics
- Consumerism, the consumer movement and voluntary organisationsMeaning and importance of consumerism, the growth and impact of the consumer movement in India, consumer rights and the redressal machinery of the Consumer Protection Act, 2019, and the role of voluntary consumer organisations.5 min
- ITES, BPO, KPO, call centres and special economic zonesIT-enabled services and the business process outsourcing and knowledge process outsourcing industries in India, call centres, their growth, advantages and problems, and special economic zones under the SEZ Act, 2005, with their objectives, benefits and criticism.5 min