SOCIO-CULTURAL ENVIRONMENT Smt. Suvarna Walikar Assistant Professor G. F. G. College, Khanapur Chapter 4.

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SOCIO-CULTURAL ENVIRONMENT Smt. Suvarna Walikar Assistant Professor G. F. G. College, Khanapur Chapter 4

Street Girl in Rajasthan

Concept and nature Socio cultural environment refers to implication of socio cultural factors on business Socio cultural environment has great influence on business

Components of socio cultural environment Sociological environment consists of social organizations and institutions of a society. It is composed of caste, class, family marriage, education, temples, churches etc Cultural environment consists of cultural practices like customs, traditions, beliefs, values, festivals, habits etc

Impact of socio cultural environment Business which understands socio cultural practices will achieve success In India decision making process is influenced by family values Product development and marketing of products are dependent on socio cultural restrictions HRM policies are different in India

Ethics in Business Derived from Latin word Ethos means “CHARACTER” Ethics is the science of morals and principles which are defined by the society as good or bad It refers to code of good conduct that are accepted by the society

Business Ethics Application of ethics to the business practices is business ethics Ex: truth, honesty, loyalty etc

Unethical practices in business Customers Employees Competition Investors Government society

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