Business Environment Introduction.

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Presentation transcript:

Business Environment Introduction

Understanding the environment within which the business has to operate (be it its nature, its location, influences, the prices of products, the distribution system, or the personnel policies etc.). “ It is not the strongest of the species that survives in the long run, or the most intelligent, but the one most responsive to changes”-Darwin. According to The World Bank, Indian economy is expected to grow at 7.5 per cent in 2015-16, followed by further acceleration to 7.8 per cent in 2016-17 and 7.9 per cent in 2017-18. Impact on Business????

Definition Larsson (2012), “ The process by which strategists monitor the economic, governmental, legal, competitive, market, suppliers, technological, geographical and social settings to determine opportunities and threats to their firms”.

Internal Environment In an organization, the internal environment consists of four groups: Managers, lower level employees , the board of directors, shareholders/owners Each of these groups has different objectives, beliefs, needs, and functions that must be coordinated Internal Factors: Value System, Mission & Objectives, Management structure & Nature, Internal power relationship, Human Resources, Company Image & Brand equity and others

External Environment It consists of Micro environment and Macro environment Micro environment (Task/Operating) : It consists of actors in the company’s immediate environment that affects the performance of the company (e.g.: Suppliers, Customers, Competitors etc.) Macro environment (Societal) : It consists of larger societal forces that affects all the actors in company’s micro environment (e.g. Demographic, Cultural, Natural, Technological etc.)

It is very important and crucial to understand the Environment Business ??? factors ????factors ???factors ???? factors ????? factors

External…..

Both…

Some Concepts Environmental Diagnosis: It consists of managerial decisions made by analysing the significance of data (Opportunities and Threats) of the environmental analysis Environmental Scanning : It is the monitoring, evaluating and disseminating of information from the external and internal environments to key people within the company