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GLOBALIZATION ENCOMPASSES:
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GLOBALIZATION ENCOMPASSES:
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TRADING.
SERVICES.
INVESTMENTS.
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PULL FACTORS:
(PROACTIVE REASONS)
PUSH FACTORS:
(REACTIVE REASONS)
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PROFIT ADVANTAGE:
2.
GROWTH OPPORTUNITIES:
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4.
COMPETITION:
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6.
MONOPOLY POWER:
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SPIN-OFF BENEFITS:
8.
STRATEGIC VISION:
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i
INTERNAL
ENVIRONMENT
BUSINESS
DECISIONS
EXTERNAL
ENVIRONMENT
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INTERNAL ENVIRONMENT:
VALUE SYSTEM.
i
MISSION AND OBJECTIVES.
MANAGEMENT STRUCTURE AND NATURE.
INTERNAL POWER RELATIONSHIP.
HUMAN RESOURCES.
CONT..
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INTERNAL ENVIRONMENT:
COMPANY IMAGE AND BRAND EQUITY.
OTHER FACTORS:
MARKETING RESOURCES.
FINANCIAL FACTORS.
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MICRO ENVIRONMENT:
SUPPLIERS.
CUSTOMERS.
COMPETITORS.
MARKETING INTERMEDIARIES.
PUBLICS.
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IMPLICATIONS OF DIFFERENCES IN
BUSINESS ENVIRONMENT
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IMPLICATIONS OF DIFFERENCES IN
BUSINESS ENVIRONMENT
THE KEY TO SUCCESSFUL INTERNATIONAL BUSINESS IS
ADAPTION TO THE DIFFERENCES IN THE ENVIRONMENT
THAT USUALLY EXIST FROM ONE MARKET TO ANOTHER.
ADAPTION IS NOT A PASSIVE PROCESS BUT A
CONSCIOUS EFFORT ON THE PART OF THE
INTERNATIONAL MARKETER TO ANTICIPATE THE
INFLUENCES OF BOTH THE FOREIGN AND DOMESTIC
UNCONTROLLABLE ENVIRONMENTS ON A MARKETING
MIX AND THEN TO ADJUST THE MARKETING MIX TO
MINIMISE THEIR EFFECTS.
= CATEORA AND KEAVENEY
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DISTRIBUTION OF INCOME.
STANDARD OF LIVING.
COMPOSITION OF OUTPUT.
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REGION STATES
WHEN THE DIFFERENT REGIONS OF A NATIONAL
ECONOMY SHOW GREAT DIVERSITY, IT MAY NOT BE
APPROPRIATE TO REGARD IT AS SINGLE ECONOMIC
UNIT.
NATION STATES ARE NO LONGER MEANINGFUL UNITS IN
WHICH TO THINK ABOUT ECONOMIC ACTIVITY.
IN A BORDERLESS WORLD, THEY COMBINE THINGS AT
THE WRONG LEVEL OF AGGREGATION.
THE UNITS THAT MAKE SENSE ARE REGION STATES.
THEY MAY OR MAY NOT FALL WITHIN THE BOUNDARIES
OF A PARTICULAR NATION.
=KENICHI OHMAE
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REGION STATES
THE MOVEMENT OF BOTH INVESTMENT AND INDUSTRY
HAS BEEN GREATLY FACILITATED BY INFORMATION
TECHNOLOGY WHICH NOW MAKES IT POSSIBLE FOR A
COMPANY TO OPERATE IN VARIOUS PARTS OF THE
WORLD WITHOUT HAVING TO BUILD UP AN ENTIRE
BUSINESS SYSTEM IN EACH OF THE COUNTRIES WHERE
IT HAS A PRESENCE.
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CORPORATE EXECUTIVES.
SCIENTISTS.
ENTERTAINERS.
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ECONOMIC POLICIES
IMPORTANT ECONOMIC POLICIES :
INDUSTRIAL POLICY.
TRADE POLICY.
FOREIGN EXCHANGE POLICY.
MONETRAY POLICY.
FISCAL POLICY.
FOREIGN INVESTMENT AND TECHNOLOGY POLICY.
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INDUSTRIAL POLICY
DEFINES THE SCOPE AND ROLE OF DIFFERENT SECTORS
LIKE :
PRIVATE, PUBLIC, JOINT AND COOPERATIVE
LARGE, MEDIUM, SMALL AND TINY.
IT MAY INFLUENCE :
THE LOCATION OF INDUSTRIAL UNDERTAKINGS
CHOICE OF TECHNOLOGY
SCALE OF OPERATION
PRODUCT MIX ETC.
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TRADE POLICY
TRADE POLICY IS OFTEN INTEGRATED WITH INDUSTRIAL
POLICY.
DUE TO ECONOMIC LIBERALIZATION AND WTO
COMPLIANCE, INDIA HAS SUBSTANTIALLY LIBERALIZED
IMPORTS.
INDIAN FIRMS FACE A GROWING INTERNATIONAL
COMPETITION IN THE DOMESTIC TURF.
FIRMS WHICH DO NOT COME UP TO THE INTERNATIONAL
STANDARDS IN QUALITY, COST, MARKETING,AND AFTER
SALES SERVICE etc. WILL NOT BE ABLE TO SURVIVE.
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FISCAL POLICY
GOVERNMENTS STRATEGY IN RESPECT OF PUBLIC
EXPENDITURE AND REVENUE CAN HAVE SIGNIFICANT
IMPACT ON THE BUSINESS.
THE PATTERN OF PUBLIC EXPENDITURE MAY AFFECT
THE DEVELOPMENT OF VARIOUS REGIONS, SECTORS
AND / OR INDUSTRIES DIFFERENTLY
GOVT. OFTEN USE TAX INCENTIVES OR DISINCENTIVES
TO ENCOURAGE OR DISCOURAGE CERTAIN ACTIVITIES.
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ECONOMIC CONDITIONS
EXPORTS AND IMPORTS OF A COUNTRY ARE
GENERALLY AFFECTED BY A NUMBER OF
DOMESTIC AND INTERNATIONAL ECONOMIC
CONDITIONS.
THEY INCLUDE :
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ECONOMIC CONDITIONS
EXTERNAL FACTORS:
THE RATE OF GROWTH OF THE ECONOMIES OF THE
IMPORTING COUNTRIES.
THE RATE OF GROWTH OF THE WORLD TRADE.
THE RATE OF CHANGE IN THE PRICE LEVEL IN THE
IMPORTING COUNTRY.
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REGULATORY ROLE
GOVERNMENT REGULATION MAY EXTEND FROM
ENTRY INTO BUSINESS TO THE FINAL RESULTS OF A
BUSINESS.
RESERVATION OF INDUSTRIES TO SMALL SCALE,
PUBLIC AND COOPERATIVE SECTOR, LICENSING
SYSTEM.
REGULATION OF PRODUCT MIX AND CONDUCT OF
BUSINESS.
REGULATION AS CEILINGS ON PROFIT MARGINS,
DIVIDEND etc.
CONT.
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REGULATORY ROLE
GOVERNMENT REGULATION OF THE ECONOMY MAY
BE BROADLY DIVIDED INTO:
DIRECT CONTROL:
ADMINISTRATIVE OR PHYSICAL CONTROLS ARE
MORE DRASTIC IN THEIR EFFECT. IT IS
DISCRETIONARY IN NATURE AND CAN BE APPLIED
SELECTIVELY.
INDIRECT CONTROL:
EXERCISED THROUGH VARIOUS FISCAL AND
MONETARY INCENTIVES, DISINCENTIVES OR
PENALTIES.
Chapter No. 1
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PROMOTIONAL ROLE
TO BUILD UP AND STRENGTHEN THE NECESSARY
DEVELOPMENT INFRASTRUCTURE LIKE POWER,
TRANSPORT, FINANCE AND MARKETING.
INSTITUTION FOR TRAINING AND GUIDANCE .
TO MAKE PROVISION FOR VARIOUS FISCAL, MONETARY
AND OTHER INCENTIVES, INCLUDING MEASURES TO
COVER CERTAIN RISKS, FOR THE DEVELOPMENT OF
CERTAIN PRIORITY SECTORS.
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ENTREPRENEURIAL ROLE
STATE, ESTABLISHING AND OPERATING BUSINESS
ENTERPRISES AND BEARING RISK.
FACTORS SUCH AS:
SOCIO-POLITICAL IDEOLOGIES, DEARTH OF PRIVATE
ENTREPRENEURSHIP, NEGLECT OF CERTAIN SECTORS,
LIKE THE UNPROFITABLE SECTORS, BY THE PRIVATE
ENTREPRENEURS, ABSENCE OF OR INADEQUATE
COMPETITION IN CERTAIN SEGMENTS AND THE
RESULTANT EXPLOITATION OF CONSUMERS, etc. HAVE
CONTRIBUTED TO THE GROWTH OF STATE OWNED
ENTERPRISES IN MANY COUNTRIES.
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PLANNING ROLE
ESPECIALLY IN THE DEVELOPING COUNTRIES, THE
STATE PLAYS A VERY IMPORTANT ROLE AS A PLANNER.
THE TIME ELEMENT IS IMPORTANT AND THE QUESTION
IS HOW TO USE OUR RESOURCES TO THE BEST
ADVANTAGE. IF OUR RESOURCES ARE ABUNDANT IT
WILL NOT MATTER HOW THEY ARE USED. THEY WILL GO
INTO A COMMON POOL OF DEVELOPMENT. BUT WHERE
ONES RESOURCES ARE LIMITED, ONE HAS TO SEE THAT
THEY ARE DIRECTED TO THE RIGHT PURPOSE SO AS TO
HELP TO BUILD UP WHATEVER ONE IS AIMING AT.
= JAWAHARLAL NEHRU
Chapter No. 1
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ECONOMIC SYSTEMS
FREE MARKET ECONOMIES OR CAPITALIST ECONOMIES.
CENTRALLY PLANNED ECONOMIES OF COMMUNIST
COUNTRIES.
MIXED ECONOMIES.
THE ECONOMIC SYSTEM IS A VERY IMPORTANT
DETERMINANT OF THE SCOPE OF PRIVATE BUSINESS.
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CATEGORIES OF LAWS
BROADLY THERE ARE THREE SETS OF LAWS AND
REGULATIONS RELEVANT TO INTERNATIONAL
BUSINESS:
INTERNATIONAL LAWS, TREATIES, CONVENTIONS etc.
LAWS OF FOREIGN COUNTRIES.
LAWS OF HOME COUNTRY (i.e. INDIA), RELATED TO
FOREIGN TRADE.
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INCOTERMS
THESE ARE COMMON SALE OR TRADE TERMS USED
IN INTERNATIONAL TRADE TO EXPRESS THE SALE
PRICE AND THE CORRESPONDING RIGHTS AND
RESPONSIBILITIES OF THE SELLER AND THE BUYER.
BROUGHT OUT BY THE INTERNATIONAL CHAMBER OF
COMMERCE.
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SETTLEMENT OF DISPUTES
DISPUTES ARE SETTLED BY THE:
1. WTO OR IN ACCORDANCE WITH WTO PRINCIPLES.
2. JUDICIAL DISPUTES SETTLEMENT.
3. EXTRA JUDICIAL DISPUTE SETTLEMENT.
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REGULATION OF PROMOTION
IN MOST OF THE COUNTRIES , PRODUCT PROMOTION IS
SUBJECT TO VARIOUS TYPES OF CONTROLS.
PRODUCT COMPARISON ADVERTISEMENTS ARE NOT
PERMITTED.
USE OF SUPERLATIVES LIKE BEST, BETTER OR
EXCELLENT IS PROHIBITED IN SOME COUNTRIES.
SOME COUNTRIES HAVE RESTRICTIONS ON
ILLUSTRATIONS AND USE OF PHOTOGRAPHS OF WOMEN
IN ADVERTISEMENTS.
CONT..
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REGULATION OF PROMOTION
IN INDIA, DOOR DARSHAN DOES NOT ENTERTAIN
ADVERTISEMENTS OF CERTAIN PRODUCTS LIKE
ALCOHOLIC DRINKS, CIGARETTES, BEEDIS, PAN MASALA
BABY FOOD etc.
IN MANY COUNTRIES INCLUDING INDIA PACKAGE AND
ADVERTISEMENT OF CIGARETTES SHALL CARRY
STATUTORY WARNING.
BABY FOOD MARKETERS ARE NOT ALLOWED TO
PROMOTE THE PRODUCT AS A SUBSTITUTE FOR BREAST
FEEDING.
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INDIAN LAWS
THE OBJECTIVE OF THE FOREIGN TRADE (DEVELOPMENT
AND REGULATION)ACT1992, IS TO PROVIDE FOR THE
DEVELOPMENT AND REGULATION OF FOREIGN TRADE
BY FACILITATING IMPORTS AND AUGMENTING EXPORTS
FROM INDIA AND MATTERS CONNECTED THEREWITH OR
INCIDENTAL THERETO.
THE ACT EMPOWERS THE CENTRAL GOVT. TO:
(i) MAKE PROVISIONS FOR THE DEVELOPMENT AND
REGULATION OF FOREIGN TRADE BY FACILITATING
IMPORTS AND INCREASING EXPORTS AND
(ii) MAKE PROVISIONS FOR PROHIBITING, RESTRICTING OR
OTHERWISE REGULATING THE IMPORTS AND EXPORTS
OF GOODS.
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INDIAN LAWS
SOME LAWS WHICH CONTROL THE TRADE IN CERTAIN
ITEMS e.g.
THE EXPORT OF ANTIQUITIES IS REGULATED UNDER THE
ANTIQUITIES AND ART TREASURE ACT,1972.
EXPORT OF COFFEE IS REGULATED BY THE COFFEE
BOARD UNDER THE INDIAN COFFEE ACT,1942.
EXPORT OF TEA IS REGULATED UNDER THE TEA
ACT.1953.
NO EXPORT OF ANY GOODS CAN BE MADE WITHOUT
OBTAINING CUSTOMS CLEARANCE UNDER THE
CUSTOMS ACT 1962.
LEGISLATIONS FOR EXPORT REGULATION IS THE
EXPORT (QUALITY CONTROL AND INSPECTION) ACT 1963.
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DEMOGRAPHIC ENVIRONMENT
DEMOGRAPHIC FACTORS SUCH AS:
SIZE OF THE POPULATION.
POPULATION GROWTH RATE.
AGE COMPOSITION.
ETHNIC COMPOSITION.
DENSITY OF POPULATION.
RURAL URBAN DISTRIBUTION.
FAMILY SIZE.
INCOME LEVEL.
HAVE VERY SIGNIFICANT IMPLICATIONS ON BUSINESS.
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PRODUCT DEVELOPMENT.
PROMOTION.
BUSINESS NEGOTIATION.
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MEANING OF CULTURE
(CONCEPT OF CULTURE BY FRANCIS MERILL )
CULTURE :
IS THE CHARACTERISTICALLY HUMAN PRODUCT OF
SOCIAL INTERACTION.
PROVIDES SOCIALLY ACCEPTABLE PATTERNS FOR
MEETING BIOLOGICAL AND SOCIAL NEEDS.
IS CUMULATIVE FOR, IT IS HANDED DOWN FROM
GENERATION TO GENERATION.
IS MEANINGFUL TO HUMAN BEINGS BECAUSE OF ITS
SYMBOLIC QUALITY.
CONT..
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MEANING OF CULTURE
(CONCEPT OF CULTURE BY FRANCIS MERILL )
CULTURE :
IS LEARNED BY EACH PERSON IN THE COURSE OF HIS
DEVELOPMENT IN A PARTICULAR SOCIETY.
IS, THEREFORE, A BASIC DETERMINANT OF
PERSONALITY.
DEPENDENT FOR ITS EXISTENCE UPON THE CONTINUED
FUNCTIONING OF SOCIETY BUT IS INDEPENDENT OF ANY
INDIVIDUAL OR GROUP.
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ELEMENTS OF CULTURE
KNOWLEDGE AND BELIEFS:
IT REFERS TO A PEOPLES PREVAILING NOTIONS OF
REALITY, INCLUDES MYTHS AND METAPHYSICAL
BELIEFS AS WELL AS SCIENTIFIC REALITIES.
IDEALS:
IT REFERS TO THE SOCIETAL NORMS WHICH DEFINE
WHAT IS EXPECTED,CUSTOMARY,RIGHT OR PROPER IN
A GIVEN SITUATION.
PREFERENCES:
IT REFERS TO THOSE THINGS IN LIFE WHICH ARE
ATTRACTIVE OR UNATTRACTIVE AS OBJECTS OF DESIRE.
PREFERENCES MAY DIFFER IN BETWEEN CULTURES.
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ORGANISATION OF CULTURE
ORGANISATION OF CULTURE REFERS TO THE SOCIAL
STRUCTURE AND THE INTEGRATION OF TRAITS,
COMPLEXES AND PATTERNS THAT MAKE UP THE
CULTURAL SYSTEM.
SOCIAL STRUCTURE IS THE WEB OF ORGANIZED
RELATIONSHIPS AMONG INDIVIDUALS AND GROUPS
THAT DEFINES THEIR MUTUAL RIGHTS AND
LIABILITIES.TOGETHER WITH TRAITS, COMPLEXES
AND PATTERNS, REFLECTS THE ORGANISATION OF A
CULTURE.
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ORGANISATION OF CULTURE
IMPORTANT COMMON INSTITUTIONS OF MODERN
CULTURES ARE:
ECONOMIC SYSTEM.
POLITICAL ADMINISTRATIVE SYSTEM.
EDUCATIONAL SYSTEM.
RELIGION.
FAMILY.
EXPRESSIONISTIC, AESTHETIC AND RECREATIONAL
INSTITUTIONS.
SUCH INSTITUTIONS HAVE BEEN ESTABLISHED TO MEET
SOCIETY'S COMMON NEEDS.
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CULTURAL ADAPTATION
IT IS OFTEN NECESSARY TO KNOW THE PROCESS AND
NATURE OF THE CULTURAL ENVIRONMENT FOR THE
SUCCESSFUL FORMULATION OF BUSINESS STRATEGIES.
WHILE INTRODUCING:
NEW IDEAS, TECHNIQUES, PRODUCTS, SEGMENTING THE
MARKET, FORMULATING THE PRODUCT AND PROMOTION
MIX STRATEGIES
ONE SHOULD CONSIDER THE EXTENT TO WHICH
DIFFERENT CATEGORIES OF CONSUMERS ADAPT TO THE
NEW THINGS OR ENVIRONMENT AND THE FACTORS
FAVORING OR DISFAVORING ADAPTATION.
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CULTURAL SHOCK
ENVIRONMENTAL CHANGES SOMETIMES PRODUCE
CULTURAL SHOCK.
A FEELING OF CONFUSION, INSECURITY AND ANXIETY
CAUSED BY THE STRANGENESS OF THE NEW
ENVIRONMENT.
EXECUTIVES AND OTHER EMPLOYEES ON FOREIGN
ASSIGNMENTS MAY EXPERIENCE CULTURAL SHOCK IN
ALIEN ENVIRONMENT.
THIS ALSO HIGHLIGHTS THE IMPORTANCE OF THE
SELECTION OF PEOPLE FOR THE FOREIGN MARKETS.
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CULTURAL TRANSMISSION
CULTURAL TRANSMISSION CAN TAKE PLACE BY :
SYMBOLIC COMMUNICATION.
LANGUAGE.
LITERATURE.
FILM.
TELEVISION AND SOME OTHER ELECTRONIC GADGETS.
SOCIAL INSTITUTIONS.
ADVERTISING AND MARKETING TECHNIQUES.
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CULTURAL TRANSMISSION
CULTURAL TRANSMISSION AND DIFFUSION IN A SOCIETY
IS IMPORTANT TO BUSINESS DECISION MAKING.
TO FORMULATE A PROMOTIONAL POLICY FOR A
PRODUCT, A SERVICE OR AN IDEA IT IS IMPORTANT..
TO IDENTIFY THE RELEVANT ELEMENT OF
TRANSMISSION TO EVALUATE THE RELATIVE
EFFECTIVENESS OF ALTERNATIVE COMMUNICATION
MEDIA.
TO IDENTIFY THE REFERENCE GROUPS AND THE EXTENT
OF THEIR INFLUENCE.
TO IDENTIFY THE CHANNEL OF INFLUENCE ON THE
REFERENCE GROUP.
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Page No. 68
CULTURAL CONFORMITY
A KNOWLEDGE OF THE NATURE AND EXTENT OF
CULTURAL CONFORMITY AND DEVIANCE WILL
SOMETIMES BE HELPFUL IN BUSINESS DECISIONMAKING.
IF A SOCIETY IS CHARACTERIZED BY BLIND
CONFORMITY, IT WILL BE VERY DIFFICULT TO MARKET
NEW REVOLUTIONARY IDEAS.
SPECIAL EFFORTS MAY BE REQUIRED IN SUCH A
SOCIETY TO CHANGE THE ATTITUDES OF THE PEOPLE IN
FAVOR OF UNCONVENTIONAL IDEAS. IT IS ALSO
IMPORTANT TO UNDERSTAND THE EXTENT AND EFFECT
OF INITIAL DEVIATION.
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RELIGION
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RELIGION
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RELIGION
THE ISLAMIC HOLY BOOK KORAN PROHIBITS PAYMENT
ACCEPTANCE OF INTEREST.
ISLAMIC BANKS DO NOT PAY REGULAR PREDETERMINED
INTEREST TO DEPOSITORS NOR DO THEY CHARGE
PREDETERMINED INTEREST RATES TO BORROWERS.
BANKS TAKE A SHARE OF THE PROFITS OR LOSS WHICH
ARE AGAIN SHARED WITH DEPOSITORS.
EVEN SOME LARGE WESTERN BANKS NOW HAVE
ISLAMIC BRANCHES.
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ETHNO DOMINATION
IN MANY COUNTRIES ONE OR OTHER INDUSTRY OR
TRADE IS DOMINATED BY CERTAIN ETHNIC GROUPS.
THIS IS PARTICULARLY TRUE OF TRADE.
THE CONTROL IS MANIPULATED THROUGH THE FAMILIAR
COERCIVE AND COLLUSIVE PRACTICES.
CONT.
Chapter No. 1
Page No. 76
ETHNO DOMINATION
A STRANGER OR SOJOURNER MINORITY, SELECTING OR
HAPPENING INTO A TRADE OPPORTUNITY IN A
PARTICULAR COMMODITY.
MEMBERS OF THE ETHNIC GROUP THEN MASTER THE
INTRICACIES OF SUPPLY AND DEMAND IN WORLD
MARKET FOR THAT COMMODITY.
IT WOULD BE BENEFICIAL FOR THE INTERNATIONAL
MARKETER TO CO-OPT RATHER THAN COMPETE WITH
THE DOMINANT ETHNIC GROUP.
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LANGUAGE
DIFFERENCES IN LANGUAGE IS A VERY IMPORTANT
PROBLEM AREA IN BUSINESS.
EVEN SOME OF THE SAME WORDS OF THE SAME
LANGUAGE HAVE DIFFERENT MEANINGS OR
CONNOTATIONS IN DIFFERENT PLACE.
BESIDE 18 OFFICIALLY RECOGNIZED LANGUAGES IN
INDIA, 33 ARE SPOKEN, WHERE AS 1652 ARE MOTHER
TONGUES LISTED BY THE CENSUS.
PROBLEMS CAUSED BY LANGUAGES INCLUDES, THOSE
RELATED TO BRAND NAMES AND OTHER NAMES,
MARKETING COMMUNICATION.
CONT.
Chapter No. 1
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LANGUAGE
THERE ARE TWO PROBLEMS FOR THE TRANSLATION OF
ADVERTISEMENTS etc. ONE, THE APPROPRIATE WORD IS
NOT THERE IN SOME LANGUAGES AND SECONDLY,THE
LITERAL TRANSLATION MANY A TIME DO NOT CONVEY
THE RIGHT MEANING.
NONVERBAL COMMUNICATIONS ALSO CREATE
PROBLEMS.
BODY LANGUAGE HAS DIFFERENT INTERPRETATIONS IN
DIFFERENT CULTURES.
THE SAME SYMBOL AND GESTURE MAY MEAN
DIFFERENT IN DIFFERENT COUNTRIES / REGIONS OF THE
SAME COUNTRY.
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ETIQUTTES
THE WAYS OF MEETING AND GREETING PEOPLE.
EXPRESSION OF APPRECIATION OR DISAPPROVAL.
METHODS OF SHOWING RESPECT.
WAYS OF CONDUCTING MEETINGS AND FUNCTIONS.
TABLE MANNERS.
LAUGHTER AND SMILE.
VARY QUITE WIDELY BETWEEN CULTURES.
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Page No. 84
ETIQUTTES
GIFT GIVING HAS ITS OWN PLACE IN MOST CULTURES.
WHAT IS AN APPROPRIATE GIFT. TO WHOM SHOULD IT
BE GIVEN, WHEN SHOULD IT BE GIVEN.
FAILURE TO TAKE METICULOUS CARE OF THESE
FACTORS CAN SOME TIMES PRODUCE NEGATIVE
EFFECTS.
SOMETIMES GIFTS ARE EXPECTED AND FAILURE TO
SUPPLY THEM IS SEEN INSULTING.
THE WAY THE GIFT IS PRESENTED IS ALSO VERY
IMPORTANT.
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Page No. 87
GEOGRAPHICAL ENVIRONMENT
GEOGRAPHICAL AND ECOLOGICAL FACTORS, WHICH
ARE RELEVANT TO BUSINESS ARE :
NATURAL RESOURCES ENDOWMENTS.
WEATHER AND CLIMATIC CONDITIONS.
TOPOGRAPHICAL FACTORS.
LOCATION ASPECTS IN THE GLOBAL CONTEXT.
PORT FACILITIES etc.
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Page No. 87
GEOGRAPHICAL ENVIRONMENT
ECOLOGICAL FACTORS HAVE RECENTLY ASSUMED
GREAT IMPORTANCE.
THE DEPLETION PF NATURAL RESOURCES,
ENVIRONMENTAL POLLUTION AND DISTURBANCE OF THE
ECOLOGICAL BALANCE HAVE CAUSED GREAT CONCERN.
GOVT. POLICIES AIMED AT PRESERVATION OF
ENVIRONMENTAL PURITY AND ECOLOGICAL BALANCE,
CONSERVATION OF NON-REPLENISHABLE RESOURCES
etc. HAVE RESULTED IN ADDITIONAL RESPONSIBILITIES
AND INCREASING THE COST OF PRODUCTION AND
MARKETING.
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