Business and its Environment

Business and its Environment - Business and its Environment...

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Business and its Environment Chapter 1: K. Aswathappa
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What is a Business? The organized efforts of enterprises to supply consumers with goods and services for a profit The different purposes of business include: To earn profit Creation of job opportunities Offer better quality of life Economic growth
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Characteristics of Today’s Business Change Bulk Production Diversification Concentric Horizontal Conglomerate Globalization Science
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Information Government Interference To place restrictions on import To reduce inequalities of income To realize socio-economic objectives Competition Characteristics of Today’s Business (Contd.)
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Business Goals 1. Vision What do we want to be? 2. Mission What is the purpose of our business today? 3. Objectives What do we want to achieve specifically?
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Business Objectives Profit Growth More products Diversify Integration – forward and backward Increase market share Expand markets Cut down costs and increase productivity Power
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Employee satisfaction and development Quality products and services Market leadership Challenge Satisfaction of creation Service to society Providing safe and quality products at affordable prices, catering to cultural and religious activities, supporting minorities, etc. Good corporate citizenship Business Objectives (Contd.)
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What is Business Environment? Refers to all external forces which have a bearing
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Business and its Environment - Business and its Environment...

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