Volume : 4, Issue : 3, MAR 2018

BUSINESS ENVIRONMENT – CONCEPTUAL FRAMEWORK AND POLICIES

DR. V. BASIL HANS

Abstract

Businesses do not operate in a vacuum; they operate in an environment. In this lesson, you will learn about the business environment, including what makes it up. The objectives of this paper are to develop ability to understand and scan business environment in order to analyse opportunities and take decisions under uncertainty; and to study the nature, scope and importance of business environment. Business environment is dynamic concept or a phenomenon what with emerging trends in business ethics, corporate social responsibility, corporate governance, consumer citizenship etc. Every from/manager should have a strong conceptual and policy framework to support development and use of business and environmental information in decision-making.

Article : Download PDF

Cite This Article

Article No : 17

Number of Downloads : 1509

References

1. Cherulinam, Francis (2012), Business Environment: Text and Cases, Himalaya Publishing House, Mumbai. 21st Revised Edition, 2012. 2. Sharma, Mohinder Kumar (1989), Business Environment in India, Commonwealth Publishers, New Delhi, 1st Edition. 3. Hans V. Basil (2016). Role of Role and Responsibilities of Managerial Economists: Empowering Business through Methodology and Strategy. Nitte Management Review, 10(2), December 2016, pp. 27-43 4. Hans V. Basil (2017, August 13).Linking Business to Corporate Social Responsibility: the role of ethics. Paper present at the 2nd International Conference on Emerging Trends in Engineering, Science and Management (ESM-17, Indian Federation of United Nations Associations (IFUNA), New Delhi (India) 5. National Service Centre for Environmental Publications (NSCEP), Conceptual Framework to Support Development and Use of Environmental Information in Decision-making. Available at https://nepis.epa.gov (accessed March 16, 2018). ---------------------------------------------------------------------------------------------------------------------------------------------- 1. See B.W. Miller and R. Redding, The FASB: The People, the Process and the Politics, Irwin Inc., USA, 1986. 2. A value is an enduring preference as a mode of conduct or an end state. The value system of the founding fathers of the organisation has a lasting impact on it. 3. The value system of the founders and those at the helm of the affairs has important bearing on the choice of business, the mission and objectives of the organisation, business policies and practices. After the EID Parry group was taken over by the Murugappa group, one of the most profitable businesses (liquor) of the ailing Parry group was sold off, as the liquor-business did not fit into the value system of the Murugappa group. 4. Brand Equity' means the value premium that a company realises from a product with a recognisable name as compared to its generic equivalent. Companies can create brand equity for their products by making them memorable, easily recognisable and superior in quality and reliability. 5. An industry attempts to police itself. The best-known self-regulatory group is the Better Business Bureau (BBB).