Documente Academic
Documente Profesional
Documente Cultură
Business is the organized efforts of enterprises to supply consumers with goods and services. Businesses vary in size as measured by number of employees or by sales volume. All businesses share the same purpose to earn Profits. However, the purpose of business goes beyond earning profits.
Scope of Business
Business included all activities connected with production, trade, banking, insurance, finance, agency, advertising, packaging and numerous other related activities. Businesses include all efforts to comply with legal restrictions and government requirements and discharging obligations to consumers, employees, owners and to other interest groups which have stakes in business directly or indirectly.
2
bearing on the functioning of business. Environment are largely if not totally external, and beyond the control of individual industrial enterprises and their management. These are essentially the givers within which firms and their managements must operate in a specific country and they vary, from country to country.
SWOT Analysis
SWOT stands for Strengths, Weaknesses, Opportunities and Threats
Identification of the threats and opportunities in the external environment and strengths and weaknesses in the internal environment of the firms are the cornerstone of business policy formulation. It is the SWOT analysis which determines the course of action to ensure the growth / survival of the firm.
MICRO ENVIROMENT
Customers
Those people & organizations in the environment who acquire goods or services from the business are customers.
Competitors
Other firms in the same industry or type of business that provide goods & services to the same set of customers. In todays environment most competitors are cooperating to common goals. achieve
Suppliers
The people & organizations who provide the raw material the
Market Intermediates
Types of Market Intermediates
Middlemen
Marketing Agencies
Financial Institution Physical Intermediates
MACRO ENVIROMENT
The main dimensions elements of business Environment are as follows:-
country's political system, type of government, government policies towards business ,government ,centre state relations ,public opinion, law and order etc.
Socio-Cultural Environment
Social and Cultural environment refers to the influence exercised
Technology:
Includes scientific and technological advancements in a specific
Natural Environment
Climatic & weather condition.
Internal Environment
Suppliers Customers Competitors Public Mktg Intermediaries Mission / Objectives Management Structure Internal Power Relationship
Economic Technological Natural Socio-Cultural Political
Business Decision
Company image Human resources Financial Capabilities Technological Capabilities Marketing Capabilities
17
and transform them into goods and services and then send them
back to the environment.