Business Environment
Subject Overview
Business Environment steps back from the internal mechanics of running a business to look at everything around it — the economic, political, legal, social, and international forces that shape corporate decisions in India. You'll study India's economic systems and planning, the constitutional institutions and laws businesses operate under (FEMA, Consumer Protection Act), the socio-cultural and technological environment, and the impact of liberalisation, privatisation, and globalisation. The final unit widens the lens further to multinational corporations, mergers and acquisitions, and India's relationship with the WTO and IMF. This is a 6-credit core paper across 4 units, and it gives students the wider context that later papers like Indian Economy and Entrepreneurship Development build directly on.
Unit-wise Syllabus
4 units — click WhatsApp below to get the full notes for each
Unit 1: Introduction to business environment & economic policy
Nature and significance of business environment, components and techniques of environment scanning, economic systems, economic planning in India, industrial policy, fiscal policy, monetary policy, EXIM policy
Unit 2: Political & legal environment
Legislature, executive and judiciary, Foreign Exchange Management Act (FEMA), Consumer Protection Act, liberalisation, privatisation and globalisation, factors facilitating and impeding globalisation in India
Unit 3: Socio-cultural & technological environment
Critical elements of socio-cultural environment, social responsibility of business, business ethics and CSR, changing role and relevance of the public sector, public sector reforms, regulatory framework for banking and securities markets, technological environment
Unit 4: International business environment
Multinational corporations — benefits and problems, mergers and acquisitions (reasons, trends, advantages and disadvantages), WTO and its consequences for India, IMF, regional groupings