FACTORS AFFECTING BUSINESS AND THE COMPONENTS OF BUSINESS ENGLISH!

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“IMPACT OF DIFFERENT MACRO FACTORS ON
THE BUSINESS COMING TO PAKISTAN”
There are a number of factors due to which investors hesitate to invest in Pakistan,
global recession being one of them. The other main reasons consist of,
deteriorating law and order situation, high interest rates, frequent power and gas
outages, political situations, technological backwardness and different
environmental factors. The recent increase in power and gas tariffs is likely to put
an additional burden on the country’s industrial sector and squeeze the gross
margins of industries.
The effects of some factors mentioned above on business coming to Pakistan are:
 Political factors:-
Political situations directly influence the economy of a country. For the stable
economic conditions it’s necessary to stabilize the political situation of the country.
As in Pakistan the political situation is highly unstable and law & order is also not
very good, which discourages the foreign countries and the investors as well as the
domestic investors to invest their money here.
But, now, when the military forces has controlled the law & order to large extent
and CPEC has also been inaugurated the investors are bringing their investments in
our country, which will ultimately provide better and business friendly
environment for the new business coming to Pakistan.
 ECONOMIC FACTORS:-
CPEC is the most recent and attention grabbing economic activity of Pakistan in
collaboration with China. Many economically stable countries of the world are
showing interest to invest in this mega project. In spite of the fact that the political
and law & order situations of Pakistan are not suitable for making an investment or
for doing a business.

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Ever since, the China Pakistan economic corridorhas been inaugurated in
Baluchistan , it is expected that it will not only increase the employment rate of the
country but will also promote foreign and national entrepreneurs to set up new
businesses here, in Pakistan.
All the investments and businesses coming to our country will help in reduction of
unemployment and recessionary gaps that will result in the expansion of country’s
economy and the overall earnings of the country will probably rise from the past
year’s records.
But many other factors which are considered as the main obstacles for establishing
a business, like; increase in costof doing business, poorinfrastructure, complete
dependence of transportation on oil and CNG (as the prices of both continues to
fluctuate, recently the prices of both oil and CNG raised to higher level) etc. cannot
be neglected. Such kind of hurdles and obstacles can directly influence the pre-
existing and the new business coming to Pakistan and will ultimately take down
the net income of the country and the overall GDP growth rate will also fall down.
 ENVIRONMENTAL FACTORS:-
There are many different environmental factors which can affect business. Some
major macro environmental factors are:
o SOCIOCULTURAL FACTORS:-
Population demographics, educational trends, norms and values, and attitudes
toward social responsibility are some of the sociocultural variables.
o INTERNATIONAL FACTORS:-
It can be defined as the actions and involvement of other countries regarding
business investments that creates either negative or positive impact on economic
sectorof the country.
o ATTITUDE TOWARDS BUSINESS:-
The attitude of government towards establishing the favorable environment for
business, either new or the existing ones, matters a lot. Government should form
legislative bodies, necessary for clarifying’ making and enforcing the laws for

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doing business within the country, and should take the steps to improve the
progress of pre-existing legislative bodies.
Government should set the rules and regulations for business practices and must
set the tax rates, interest rates, services charges and must build investment policies
which would be reliable for the investors, either foreign or domestic.
If we examine the above mentioned factors in Pakistan, we observe that the
sociocultural and international factors continue to change that creates unstable
condition which is obviously not favorable for doing any business. The
government is also not taking any adequate steps to establish better environment
for business practices. Instead of that the government has increased the interest and
tax rates, service charges and in addition to that the government is also not
modifying the rules and regulations and the legislative bodies as per the
requirement of time. It has increased the costof doing business in Pakistan and is
the creating the false impact on the business coming to Pakistan.
 Technological factors:-
Business nowadays, is majorly depending on the technology. The technology is
required for every step involved in business, either it’s supply of goods and
services or manufacture of goods and services or purchase of raw material,
everything is done by using technology.
In Pakistan technology used for business is not that advance as it has to be. There
is no shortcut to technological advancement as it requires the highest level of
expertise and huge investment to bring Pakistan’s industrial sector at par with that
of developed countries.

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“Components of business
English”
Business Englishis a part of English for specific purposes and can be considered a
specialism within English language learning and teaching. Many non-native
English speakers study the subject with the goal of doing business with English-
speaking countries, or with companies located outside the English-speaking world
but which nonetheless use English as a shared language or lingua franca. Much of
the English communication that takes place within business circles all over the
world occurs between non-native speakers. In cases such as these, the object of the
exercise is efficient and effective communication.
Business English means different things to different people. Forsome, it focuses
on vocabulary and topics used in the worlds of business, trade, finance,
and international relations. For others it refers to the communication skills used in
the workplace, and focuses on the language and skills needed for typical business
communication such as presentations, negotiations, meetings, small talk,
socializing, correspondence, report writing, and a systematic approach. In both of
these cases it can be taught to bothnative and non- speakers of English, for
example, high school students preparing to enter the job market.
Here are some components of business English:
o Meetings
o Business correspondence
o Telephonic conversations
o Making presentations
o Making proposals
o Negotiation skills
o Reports making
o Social English
o CV making and interview preparation

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 Meetings:-
Meeting is one of the major media of oral communication. In general sense a
meeting is a gathering of two or more persons with the view of making decisions
through discussion.
According to Oxford Dictionary, “A meeting is an occasion when people come
together to discuss or decide something.”
o WHAT IS BUSINESS MEETING?
Business meetings can be defined as a gathering of three or more members of an
organization in which a purposeful exchange or transaction of information occurs
for common interest, topic or any problem related to that organization.
o PURPOSES OF BUSINESS MEETINGS:-
Meetings are essentially important for every organization. The basic objective of
meeting is to take decisions on some predetermined issues. It has also some other
purposes. Theobjectives or purposes orimportance of meeting are discussed
below:
 MAKING DECISIONS:-
The foremost objective of any meeting is to take important decisions on some
predetermined issues. Decisions are taken here on consensus and it is very crucial
to take decisions on routine and non-routine business affairs.
 EXCHANGING INFORMATION:-
Meeting is arranged also to provide information to the audience about various
matters of the organization. Audience also exchange information in meetings.
 CONVEYING ORGANIZATIONAL VISION, MISSION AND
OPERATIONAL PLANS:-

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Meetings are also called to convey organizational mission, vision and operational
plans to the newly appointed employees. Managers or heads of various
departments call these types of meetings for the fresher so that they can be better
acquainted with organizational culture, mission, vision, plans etc.
 ANNOUNCING CHANGES:-
Another purpose of arranging meeting is to announce the upcoming changes
brought in organizational policies, mission, vision, logo etc. before the audience.
The causes, benefits and ground of such changes are explained in the meeting so
that people understand and accept the probable changes without much resistance.
 NEGOTIATION:-
Meeting is also called for making negotiations between the conflicting parties
through fruitful discussion. Sometimes employers and employees or trade union
leaders sit in meeting together to reach on some agreement so that organizational
activities can be run smoothly.
 RESOLVING CONFLICT:-
In large organizations conflict among people is most common. Healthy conflict
helps to increase productivity but unhealthy or undesirable conflict must be
resolved immediately after found. Meeting helps the conflicting parties to reach on
common understanding and thus resolving or minimizing conflict.
 SOLVING PROBLEMS:-
An important purpose of meeting is to provide solution to organizational problems.
Problems that are critical and require opinions of most of the members of a board
or council must be solved by calling meeting. In meeting diverse thoughts are
found that help to face problem suitably.
 REVIEWING AND INFORMING PROGRESS:-

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Meeting is also called for reviewing and informing the progress of any project,
plan and activity and so on. Form it the attendants of the meeting are able to know
the present status of the projects and can provide their opinions to improve if there
is any loophole.
 CELEBRATING SUCCESS:-
Meetings are often called to celebrate the success of the organization, completion
of any project, achievement of any award etc. it increases the organizational
harmony and motivates employees to work united to achieve more.
 INTERACTION WITH EXTERNAL STAKEHOLDERS:-
Every organization is to work with different parties of the society and it must build
a long term harmonious relationship with them. Meetings are called to exchange
information and to share experience with different stakeholders of an organization
so that their interaction with the firm is increased.
Form the above discussionwe find that meeting has great importance in business.
Without it, business activities cannot be performed smoothly. In fact it serves
important purposes for an organization.