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SUBMITTED TO:
MRS. MEENU SONI
COMMERCE FACULTY
CONTENTS
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INTRODUCTION MEANING AND DEFINITION CLASSIFICATION OF BUSINESS ENVIRONMENT ENVIRONMENTAL SCANNING TECHNIQUES OF ENVIRONMENTAL FORECASTING SWOT
Business environment is the climate or set of conditions- economic, social, political or institutional in which business operations are conducted.
Business environment is the total of all things external to business firms and industries which affect their organization and operations.
-Bayard O.Wheeler
-Arthur M. Weimer
EXTERNAL ENVIRONMENT
Macro /General a) Economic b) Political c) Socio-cultural d) Technological e) Natural f) Demographic g) International/Global
MICRO/OPERATING ENVIRONMENT
1 SUPPLIERS 2 CUSTOMER (Retail, Industrial, Foreign, Govt.) 3 MARKET INTERMEDIARIES (Middleman, Marketing agencies, Financial intermediaries, Physical intermediaries) 4 COMPETITORS 5 PUBLIC (Media Public, Local Public)
MACRO/GENERAL ENVIRONMENT
1 ECONOMIC (Eco. Conditions, policies, system) 2 POLITICAL (Political ideology, Stability, Centre-state relationship, Defence and military policies) 3 SOCIO-CULTURAL 4 TECHNOLOGY 5 NATURAL 6 DEMOGRAPHIC 7 INTERNATIONAL/GLOBAL
ENVIRONMENTAL SCANNING
Environmental scanning is the process by which organizations monitor their relevant environment to identify opportunities available and threats affecting their business. It is the process by which managers monitor the economic ,governmental, technological, legal, social and cultural factors to determine the threats to enterprise and the opportunities available to the organization.
SWOT
SWOT analysis may be very helpful to the managers in making policy decisions. M. Adhikary has explained SWOT analysis as,
Opportunity (O) and Threat (T) are external to the firm whose internal Strength (S) and Weakness (W) are decisive factors whether or not environment can be properly managed or not. With strength, a firm can seize the opportunity and capitalize on it, and because of its weakness, it becomes the victim of threat in the environment.
BIBLOGRAPHY
1. 2. 3. 4.
Business Environment- Dr. Alok Goyal and Mridula Goyal Business Environment- Rosy Joshi and Sangam Kapoor Essentials of business environmentK. Aswathappa Business Environment- P.K. Dhar
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