business concepts are available here

2. Business
Business is an integral part of the ecology and social system
Organized efforts of and by enterprises to supply consumers with
goods and services to the consumers for a profit.
It varies in size and is measured in terms of number of employees or
by sales (turnover) volume.
Its decisions and performance are influenced by a host of diverse
factors.
The purpose of business goes beyond just earning profit.

3. Business Environment
BE consists of all the factors that have a bearing on the
business-
Strengths of a business
Weaknesses
Relationships (external and internal)
Orientation of the organization
Government policies and regulations
Nature of economy
Economic conditions
Socio-cultural conditions
Demographics
Global trends and developments

4. Business Objectives
Vision: A broad explanation of why the firm exists and where
is it trying to lead…
It seeks to answer the following questions
Where do we go from here?
What changes lies ahead in the business landscape?
What differences will these changes make to the company’s
present business?
The vision gives the organization a sense of purpose and a set
of values that unite employees in a common density.

5. Contd…
Mission: Outlines the fundamental purpose of the organisation.
Vision statement: Where do we go from here?
Then, Mission statement: What is our business?
It gives a unique identity to the organisation and builds a path for
development.
Four elements-
Customer needs, or what is being satisfied
Customer groups, or who is being satisfied
The company’s activities, technologies, and competencies or how the
firm goes about creating and delivering value to the customer and
satisfying their needs.
The company’s concern for survival, its philosophy, its self-concept and
its concern for public image.
Mission statements are more specific than vision statements….

6. Business Goals
Profit
Growth
Power
Employee Satisfaction and Development
Quality products and services
Market leadership
Service to society

7. Types of Environment
Internal Factors: generally regarded as controllable
factors because these are under the control of the
management.
Personnel, Physical facilities etc.
External factors: One’s that are not under the direct
control of the management. These are the
environmental factors
Economic factors, socio-cultural factors, regulatory
framework, demographic factors.

8. Internal Factors
Value system
Vision, Mission and Objectives
Management Structure
Internal bonding/relationship
Human resources
Physical assets and facilities like production capacity,
technology and efficiency of productive.
R&D and technology capabilities
Financial policies and capital structure etc.
Marketing resources and efficiency.

9. External Factors
Micro Environment
The factors that affect the company’s performance immediately-
Suppliers: supply the inputs like raw materials and components to
the company.
Customer: A major task of a business is to create and sustain
customers
Competitors: May market the same or similar product and compete
for the pocket share of the consumers.
Marketing Intermediaries: Act as a link between the company and
the final consumers.
Labour: One of the most important dimension of any business.
Public: Any group that has an actual or potential interest in or
impact on an organisation’s ability to achieve its interest.

10. Macro Environment
Global Environment
Increasing opportunities as world has become one market
Improving quality
Competition from MNCs
Capital and technology transfers
Deciding which markets to enter and how to enter
Adjusting management processes
India and WTO

11. Contd…
Technological Environment
Technology reaches people through business.
Increased productivity
Need to spend on R&D
Fast changing technology
Rise and decline of products and organisations
High expectations of consumers
Problem of techno structure
System complexity
Increased regulation and stiff opposition
Demand for capital
Social changes

12. Contd…
Economic Environment
Growth strategy
Economic system
Industry
Agriculture
Infrastructure
Money and capital markets
Per capita and national income
Population
New economic policy

13. Contd…
Political Environment
Role of legislature
Role of executive
Role of judiciary
Constitution of India
New directions for government role

14. Social-Cultural Environment
Culture creates people
Culture and globalisation
Determines goods and services
Determines people’s attitude to business and work
Caste system
Spirit of collectivism and individualisation
Education
Family and marriage
Scientific spirit
Ethics in business
Social responsibility
Corporate governance

15. Contd…
Natural Environment
Manufacturing depends on physical inputs
Mining and drilling depends upon natural deposits
Agriculture depends on nature
Trade between two regions depend upon the
geographical factors
Transport and communication depend on geographical
factors

16. Contd…
Demographic Environment
Population in terms of number or decline/growth over a
period
Composition in terms of age, gender, household size etc.
Economic strata
Caste, religion, political affiliations
Educational status etc.

17. Environment Analysis
Scanning: Involves general surveillance of all environmental
factors and their in order to-
Identify early signals of possible environmental change
Detect environmental change already under way
It is ambiguous environmental analysis activity.
The relevant data for scanning are unlimited but scattered,
vague and imprecise

18. Contd…
Monitoring: Involves tracking the environmental trends
The purpose is to assemble sufficient data to discern whether
certain trends and patterns are emerging. Therefore, in this case
the data turns frequently from imprecise to precise.
Three outcomes of monitoring:
A specific description of environmental trends and patterns
to be forecast
Identification of trends for further monitoring
Identification areas for further scanning

19. Contd…
Forecasting: It is concerned with developing plausible
projections of the directions, scope and intensity of
environmental change.
Aims at laying out and evolutionary path of anticipated
change.
Unlike, scanning and monitoring, it is more deductive and
complex activity

20. Contd…
Assessment: Required to determine implications for
organisation’s current and potential strategies.
Involves identifying and evaluating how and why current and
projected environmental changes affect or will affect strategic
management of the organisation.
It tries to answer questions such as-
What are the key issues presented by the environment?
What are the implications of such issues?

21. E-Commerce
Electronic commerce, commonly known as e-commerce, is the
buying and selling of product or service over electronic systems such
as the Internet and other computer networks.
Modern electronic commerce typically uses the World Wide Web at
least at one point in the transaction's life-cycle, although it may
encompass a wider range of technologies such as e-mail, mobile
devices and telephones as well.
The World Wide Web (WWW), is a system of interlinked hypertext
documents accessed via the Internet. With a web browser, one can
view web pages that may contain text, images, videos, and other
multimedia, and navigate between them via hyperlinks.

22. Contd…
E-commerce can be divided into:
E-tailing or "virtual storefronts" on Web sites with
online catalogs, sometimes gathered into a "virtual
mall"
The gathering and use of demographic data through
Web contacts and social media
Electronic Data Interchange (EDI), the business-to-
business exchange of data
E-mail and fax and their use as media for reaching
prospects and established customers (for example, with
catalogues, Newsletters)
Business-to-Business buying and selling
The security of business transactions

23. Objectives of E-Commerce
Developing and enhancing business
Increasing the customer base
Offering better customer service
Convenience