business environment by prof anil pande mfm2 sem1
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BUSINESS ENVIRONMENT BY PROF ANIL PANDE MFM2SEM1-2007
BUSINESS ENVIRONMENTBusiness Environment
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mainly refers to external forces that impact business. Such forces include political-legal ,technological ,cultural ,eco
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nomic and physical.Factors under External EnvironmentAll the factors that provides opportunities or
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pose threats to an organization make upits external environment.•
DEMOGRAPHIC ENVIRONMENT•
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SOCIAL ENVIRONMENT•
CULTURAL ENVIRONMENT•
POLITICAL ENVIRONMENT•
ECONOMIC ENVIRONMENT•
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FINANCIAL ENVIRONMENT•
TRADE ENVIRONMENT•
TECHNOLOGICAL ENVIRONMENT•
LEGAL ENVIRONMENT
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•
REGULATORY ENVIRONMENT•
TAX ENVIRONMENT•
ETHICAL ENVIRONMENTExternal environment
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consists of 1. Micro Environment 2. Macro Environment1.Micro Environment•
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Micro environment is called as the task environment and operatingenvironment.•
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Micro environment forces have a direct bearing of the operation of the firm.•
These factors are present in
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companies environment and affect on the performance of the companies.•
Includes – suppliers ,marketing
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intermediaries .competitors,customers and public.Micro environment are more intimately linked to
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company than macro.
Suppliers :o
Those who supply inputs,raw
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material and componentso
Uncertainty in supply compels high inventory cost.o
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India maintains stocks of 3 to 4 months were as Japanmaintains for few hours.o
Eg : Nirma –believes of the logic that
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captive production plantfor raw material is best for cost control.(backward integration)o
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Co feel outsourcing is more beneficialo
Risk to depend on single supplier o
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Globally companies are resorting to partenering relationshipmarketing.1
Customers:o
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Business exists because of customerso
Monitoring customers sensitivity is perquisite
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o
The choice of customer by the firm can be ona.Relative profitability b.Dependabilityc.Stabili
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ty of demandd.Growth prospectso
Today customer is global customer as
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exposed to global products.
Competitions:o
Competition includes not
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only with competitors of same product but all those who compete for discretionary
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income of consumers.o
Eg : the competiton for T V firm may not be only from other T V
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manufacturing but also from 2wheelers ,refrigerators,cooking ranges,stereo sets
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etc,bank schemes.o
To influence basic desire of customer o
Generic competition:
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If the customer decides to spenddiscretionary income on recreation , he come
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acrossalternatives like, TV ,stereo ,2 in 1,3 in 1 P C etc.o
It is competition
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among alternative.
Marketing Intemediary:o
Firms that aid the company in
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promoting,selling anddistributing its grads to final buyers.o
Includes middlemen,a
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gents,merchants,distributionfirms,warehouses,transportation firms,marketing,financialintermediaries
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,insurances etc.
Financierso
Financiers of the companyo
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Their financial capability,policies, strategies.attitudes,ability to provide
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non financial assistance.
Publico
Public is any group that has actual or potential
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interest I or impact on organizations ability to achieves its interest.o
Media publics,citize
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ns action publics,local publicsetc,consumers publicso
Issues against companies
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o
Tarnishing the image by mediao
Environmental pollutiono
Chills labour,sweat
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labour,cruelty against animals.