Ravenshaw Business School

Cuttack

ECONOMIC ENVIRONMENT IN BUSINESS

Objective:The modern business is placed in a very complex environment. Theopportunities and constraints provided by the environment have profound effect on the business. For formulating appropriate business strategies on should have proper understanding and knowledge of the business environment.

Course Outline

SERIAL NO / SESSION / CHAPTER / TOPIC
01 / 01 / Introduction to business environment / Types of environment,internal environment,external environment, micro environment, competitive structure of industries, competitive analysis.
02 / 02 / Environmental analysis and forecasting / Techniques for environmental analysis, approaches to environmental analysis, types of environmental forecasting, techniques for environmental forecasting, benefits/importance of environmental analysis, limitations of environmental forecasting
03 / 03 / Political Environment / Functions of State, economic roles of government, government and legal environment, economic roles of government in India, the Constitutional environment.
04 / 04 / Natural and Technological environment / Natural environment, technological environment, innovation, technological leadership and followership, technology and competitive advantage, sources of technological dynamics, time lags in technology introduction/absorption, appropriate technology and technology adaptation, impact of technology on globalisation, transfer of technology.
05 / 05 / Social environment / Business and society, objectives and importance of business, professionalisation, business ethics, business and culture, technological development and social change
06 / 06 / Social responsibility of business / Classical and contemporary views, social orientation of business, factors affecting social orientation, reponsibilities to different sections, the Indian situation, arguments for and against social involvement, social audit.
07 / 07 / Case Study
08 / 08 / Economic environment / Nature and structure of economy, economic policies and economic conditions
09 / 09 / Industrial policy / Industrial policy upto 1991, an evaluation of new policy
10 / 10 / Industrial licensing / Licensing and its objectives, legislative framework for licensing, criticisms of licensing
11 / 11 / Competition Act,2002 / Objectives and provisions of the Act
12 / 12 / Foreign Exchange Management Act,1999 / Objectives and provisions of the Act
13 / 13 / Public Sector Enterprises / Objectives, Evolution of public sector, performance,Reforms in PSEs,Ownership pattern of PSUs
14 / 14 / Privatisation / History, nature and objectives of privatisation, Disinvestment in India, Arguments against privatisation, Rangarajan Committee on Privatisation, Disinvestment Commission
15 / 15 / Case study
16 / 16 / Small scale industries / Meaning, growth and significance of SSIs, the case for SSIs, problems and remedies, recommendations of the Abid Hussain Committee
17 / 17 / Industrial Sickness / Extent, causes and effects of sickness, remedies, Omkar Goswami Committee on sickness
18 / 18 / Balanced regional development / Causes for backwardness and regional imbalances, measures to remove regional imbalances
19 / 19 / GATT/WTO and global liberalisation / Objectives and evaluation of GATT, functions of WTO, the Uruguay Round Agreement, UR agreement and India
20 / 20 / Globalisation / Globalisation off World economy, globalisation of business, globalisation stages, essential conditions for globalisation, globalisation of Indian business

TEXT BOOKS:

Business Environvironment by Francis Cherunilum, Himalaya Publishing House.

REFERENCE BOOKS:

Essentials of Business Environment by K.Aswathappa, Himalaya, Publishing House.

Business Environment by Raj Agrawal, Excel Books.

Business Environment by Suresh Bedi, Excel Books

EVALUATION CRITERIA:

Mid-term -20 marksCase study - 10 marks

Presentation - 10 marksQuiz - 10 marks

End term - 50 marks