Module III.pdf - MBM 202 \u2013 Business Environment Course Book By Dr Sanjay Bhushan Prepared for DEI Distance MBA Programme \u00a9 Dayalbagh Educational

Module III.pdf - MBM 202 u2013 Business Environment Course...

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1MBM 202 – Business Environment Course Book By Dr. Sanjay BhushanPrepared for DEI Distance MBA Programme© Dayalbagh Educational Institute, Dayalbagh, Agra - 282 110.
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2COURSE NO. MBM 202BUSINESS EnvironmentMODULE / UNIT-III: ECONOMIC ENVIRONMENT OF BUSINESSLESSON 1ECONOMIC ENVIRONMENT- CHARACTERISTICS AND SUB-SECTORSLESSON 2INDIAN PLANNING FRAMEWORK, ECONOMIC REFORMS AND GLOBAL ECONOMICRECESSIONLESSON 3INDIA’S INFRASTRUCTURE MANAGEMENT, PRIVATIZATION AND ECONOMIC CYCLE
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3LESSON I: ECONOMIC ENVIRONMENT- CHARACTERISTICS AND SUB-SECTORS1.0Objectives1.1Introduction to Economic Environment Analysis and Interfaces……………..1.2Economic Development Modes1.3Economic System VariablesSumming upAssignments
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4LESSON I: ECONOMIC ENVIRONMENT- CHARACTERISTICS AND SUB-SECTORS1.0ObjectivesBy the end of this lesson students will be able to understand:Economic Environment and its Interface to other macro factorsConstituents of Economic Environment and their CharacteristicsIndia’s economic condition and present realities1.1Introduction to Economic Environment Analysis and Interfaces:Economicanalysis is concerned with efficiency and effectiveness of economic resourcemanagement with respect to other environmental factors like social and human development,political legal framework, level of economic development, environmental sustainability andtechnologicalinnovationandproductivity.Themodeldepictedbelowinter-relatesmacroeconomic system with that of micro organizational economic setup including economicresources, plans & programs, performances and growth potential. This is desirable to permitcorrective actions or developmental actions for economic optimization. In particular, innovationsystems and governance are majorly opined by experts to be of particular importance foreconomic development.At a macro scale, economic dimension is concerned with a country’s economic aspects. It isessential that a country as a whole determines expected economic growth potential and thestrengths and weaknesses of prevailing economic plans and strategies. On the other hand an
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5organization’s economic scenario can be assessed by analyzing its economic assets andreviewing their worthiness and projecting economic or financial trends. This micro assessment isnecessary for the organization to select a proper strategy and course of action.Social & Human Development- Economic Interface:Socio-economic analysis is the study of the directional relationship between a country’seconomicactivityandprevailingsocialenvironment.Theinteractionisconsideredmultidisciplinary reflecting interfaces from sociology, economics, history, psychology, and manyothers. It can be treated as a system field of study in the dynamic business environment. In manycases, socio-economists focus on the social impact of economic changes taking place at nationalor global scale. Such changes might include economic recession, market manipulation, the
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