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

2. 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

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

4. 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

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

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

7. 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…

8. 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

9. 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…

10. 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…