Introduction to Business Environment Unit I dreams.wmv_(360p).flv

Business Environment Business: Organized efforts of enterprises to supply goods and services to consumers for a profit Environment: all factors that impact business functions Business environment_(360p).flv

External Environment Factors: PEST- GN Political Economic Social-Cultural Technological Global Natural

Internal Environment Factors Specialized competitive advantage of one company over other comes from: – Demand conditions-consumers – Factor Conditions-suppliers – Related and supporting industries – Firms strategy, structure and rivalry – New entrants

Internal and External BE Internal Environment of business External Environment of business Business Environment

Characteristics of contemporary business Transition Role of government Competition Opportunities Globalization Technology Management as a science

Vision, Mission and Objectives Vision: A broad explanation of why firm exists and where it is trying to lead.. Mission: Outlines the fundamental purpose of the organization.. Vision becomes tangible as a mission statement.. V: where do we go from here.. M: What is our business…

Knowing the environment What is to be accepted and what rejected 3 tasks: ur environment.flvur environment.flv 1.Enacted Environment: carve your own environment 2.Domain Consensus: has to be reached and recognized by all stakeholder 3.Task environment: Specific range of products offered. Strategies and Technologies used to counter competition

Environment Analysis Scanning: general survey of environmental changes if any Monitoring: Tracking the environment trends: past and current Forecasting: Future orientation Assessment: of above 3. – Moving from environment analysis to – What it means for the organization – And what needs to be done now onnn…

We discussed- Business Environment External and internal environment Steps in knowing the environment Steps in Environment analysis Task for U: Simulation.. Analyze importance of knowing business environment for a business man Find impact of BE on any company of your choice…