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    UNIT-1: Business Represents The "Organised Efforts of Enterprise To

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    fruitfulluft
    This document provides an overview of business. It defines business as organized efforts to supply goods and services to satisfy consumer needs and desires. The main goals of business are to increase profits and societal standard of living. Business scope has expanded and now encompasses using technology, managing finances, motivating employees, complying with regulations, and satisfying stakeholders. Objectives include both economic goals like profits as well as social goals like consumer and worker welfare. Environmental analysis is important for businesses to understand threats and opportunities from trends in cultural, technological, economic and political areas through forecasting.

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    UNIT-1: Business Represents The "Organised Efforts of Enterprise To

    Uploaded by

    fruitfulluft
    119 views7 pages
    This document provides an overview of business. It defines business as organized efforts to supply goods and services to satisfy consumer needs and desires. The main goals of business are to increase profits and societal standard of living. Business scope has expanded and now encompasses using technology, managing finances, motivating employees, complying with regulations, and satisfying stakeholders. Objectives include both economic goals like profits as well as social goals like consumer and worker welfare. Environmental analysis is important for businesses to understand threats and opportunities from trends in cultural, technological, economic and political areas through forecasting.

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    Business Environment

    Original Title

    UNIT-I, BE

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    This document provides an overview of business. It defines business as organized efforts to supply goods and services to satisfy consumer needs and desires. The main goals of business are to increase profits and societal standard of living. Business scope has expanded and now encompasses using technology, managing finances, motivating employees, complying with regulations, and satisfying stakeholders. Objectives include both economic goals like profits as well as social goals like consumer and worker welfare. Environmental analysis is important for businesses to understand threats and opportunities from trends in cultural, technological, economic and political areas through forecasting.

    Copyright:

    Attribution Non-Commercial (BY-NC)
    Download as PPT, PDF, TXT or read online from Scribd
    Download as ppt, pdf, or txt
    119 views7 pages

    UNIT-1: Business Represents The "Organised Efforts of Enterprise To

    Uploaded by

    fruitfulluft
    This document provides an overview of business. It defines business as organized efforts to supply goods and services to satisfy consumer needs and desires. The main goals of business are to increase profits and societal standard of living. Business scope has expanded and now encompasses using technology, managing finances, motivating employees, complying with regulations, and satisfying stakeholders. Objectives include both economic goals like profits as well as social goals like consumer and worker welfare. Environmental analysis is important for businesses to understand threats and opportunities from trends in cultural, technological, economic and political areas through forecasting.

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    UNIT-1

    WHAT IS BUSINESS? BUSINESS REPRESENTS THE ORGANISED EFFORTS OF ENTERPRISE TO SUPPLY CONSUMERS WITH GOODS AND SERVICES. BUSINESS IS A SYSTEM CREATED TO SATISFY SOCIETYS NEED AND DESIRES. BUSINESS COMPRISES ALL PROFIT SEEKING ACTIVITIES AND ENTERPRISES THAT PROVIDE GOODS AND SERVICES NECESSARY TO AN ECONOMIC SYSTEM. IT IS THE ECONOMIC PULSE TO A NATION, STRIVING TO INCREASE SOCIETS STANDARD OF LIVING. PROFITS ARE A PRIMARY MECHANISM FOR MOTIVATING THESE ACTIVITIES. THE OLD CONCEPT OF BUSINESS, CONFINING IT TO COMMERCE & PRIVATE PROFIT, HAS UNDERGONE A DEEP CHANGE. THUS, IT TYPICALLY REFERS TO THE DEVELOPMENT AND PROCESSING OF ECONOMIC VALUES IN SOCIETY.

    SCOPE OF BUSINESS

    USE OF LATEST SCIENTIFIC & TECHNICAL KNOW-HOW. CHALLENGES AND DIFFICULTIES ENCOUNTERED IN CONVERTING RAW MATERIALS INTO SALEABLE PRODUCTS. PROBLEMS CONFRONTED IN RAISING AND SPENDING MONEY FOR THE GOOD OF BUSINESS. THE UPHILL TASK OF BRINGING EMPLOYESS TOGETHER AND MOTIVATING THEM TO ACHIEVE HIGHER PRODUCTIVITY. SLEEPLESS NIGHTS SPENT FOR R&D AND FOR BETTER MARKETING OF THE PRODUCTS. THE TASK OF COMPLYING WITH LEGAL RESTRICTIONS AND GOVERNMENT REQUIREMENTS AND DISCHARGING OBLIGATIONS TO CONSUMERS, EMPLOYEES, OWNERS, AND TO OTHER INTEREST GROUPS WHICH HAVE A STAKE IN BUSINESS DIRECTLY OR INDIRECTLY.

    CHARACTERISTICS OF BUSINESS

    CHANGE MASS PRODUCTION

    GOVT.
    INTERFEENCE

    & MASS MARKETING.

    DIVERSIFICATION COMPETITION BUSINESS

    INFORMATION
    SCIENCE

    GLOBALIZATION

    OBJECTIVES OF BUSINESS POWER PROFIT QUALITY PRODUCTS & SERVICES GROWTH BUSINESS EMPLOYEE SATISFACTION & DEVELOPMENT OBJECTIVES JOY OF CREATION CHALLENGES

    MARKET LEADERSHIP

    CORPORATE RELATIONSHIP

    SERVICE TO SOCIETY

    CONTD...

    OBJECTIVES OF BUSINESS

    ECONOMIC OBJECTIVES---SURVIVAL, ROI, GROWTH, INNOVATION, MARKET SHARE. SOCIAL OBJECTIVES---PROTECT CONSUMER INTEREST, WORKERS INTEREST , SOCIETYS INTEREST. PRIMARY OBJECTIVES---BUILDING FINANCIAL INDEPENDENCE, FAIR& REGULAR DIVIDENDS TO SHAEHOLDERS, PAYMENT OF FAIR WAGES, CHARGING FAIR PRICES. SECONDARY OBJECTIVES---BONUS FOR THE WORKERS, PROVIDING AMENITIES TO THE LOCALITIES. SHORT RUN OBJECTIVES--LONG RUN OBJECTIVES---TO INCREASE MARKET SHARE.

    ENVIRONMENTAL ANALYSIS
    ENVIRONMENTAL ANALYSIS MEANS TO FIND OUT THE IMPLICATIONS OF THE POLICIES OF THE COUNTRY AND COUNTRIES FOR THE COMPANY- THREATS, OPPORTUNITIES etc.

    STAGES OF ENVIRONMENTAL ANALYSIS


    1. 2. SCANNING THE ENVIRONMENT TO DETECT WARNING SIGNALS. MONITORING SPECIFIC ENVIRONMENTAL TRENDS-CULTURAL, TECHNOLOGICAL, ECONOMIC etc. FORECASTING THE DIRECTION OF FUTURE ENVIRONMENTAL CHANGES-WHERE TO MOVE AND IN WHICH DIRECTION. ASSESSING CURRENT AND FUTURE ENVIRONMENTAL CHANGES FOR THE ORGANISATION.

    3.

    4.

    TYPES OF FORECASTING-TO CATER PEST ENVIRONMENT


    1. ECONOMIC FORECAST -PUBLICATIONS WITH REGARD TO VARIOUS ECONOMIC PAREMETERS BY VARIOUS INSTITUTIONS.

    2.

    SOCIAL FORECASTS -FAMILY SET UP, EDUCATION, POPULATION GROWTH, MIGRATION, RURAL-URBAN, INCOME LEVELS etc.
    POLITICAL FORECASTS CHANGES IN VARIOUS POLICIES, STABILITY OF THE GOVT. TECHNOLOGICAL FORECAST CHANGES IN TECHNOLOGY, R & D etc.

    3.

    4.

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