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Introduction to Business Environment

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.

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Introduction to Business Environment

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  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

  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.flv • Enacted Environment: carve your own environment • Domain Consensus: has to be reached and recognized by all stakeholder • 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…

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