concept of Business

Dimension of business environment means types of business environment. We know that business is the  combination of internal  as well external forces. Internal forces consist of rules, regulation ,policies of a business . And external forces consist of those elements which are outside the control of business these are social,economical, technological, policies of a business.And external forces consist of  those elements which are outside the control of business these are social,economical, technological, political and  legal. So,  all these together are said as dimensions of business environment. 1.Economic Environment   Those changes which effects the working of a business economically is known as economic environment . This includes interest rates change in disposable income of consumers, value of rupee etc. 2. Social environment   Those changes which effects the working of a business socially then it is known as social forces like customs and t...

  Importance\Significance of Business Environment Every business needs to scan the upcoming changes in their environment as scanning the business environment helps in:- 1. Identify opportunities and getting the first mover advantage - Opportunities are the changes in the environment which effects the business positively.    Business environment helps the business in scanning those upcoming changes for the benefit of there business. In this way the business is also able to grab that positive change before it goes in the hands of the competitor.   So, it is very important for a business manager to keep its eyes open for the changes in the environment. 2. Identify threats and provide early warning signals -  Threats are exactly opposite to the opportunities as these are those changes changes which negatively effects a business.   Business environment also help in scanning the threats of only kind to any business due to changes in the  environment. So, in ...

Features Following are the features of business environment which will help you to understand more about business environment. 1.Totality of External forces  -  It is already clear from the meaning of business environment that it is a combination of internal and external forces. Hence it is sum total of external forces which have direct or indirect impact on business. 2. Specific and General forces - Business Environment includes both general and specific forces.General forces are those forces which effect the whole country, each and every business of that country. For example the govt charges 5% tax on every business in that case this will going to effect every business.          On the other hand specific forces is that forces is that force which will going to effect only specific or particular business.   For example the got. charges 5% tax on cloths so that will going to effect to the cloth industry and businesses which are related to cloths. ...

Concept of Business Environment Meaning and Introduction of business environment     Introduction  We know that every business is the combination of some internal as well as some external forces. So, it is very necessary for every manager to make such type of policy, program, rules, regulation to manage both internal and external forces. So that the manager is able to make best possible decision  as per the situation. Meaning Business environment refers to the surroundings in which the business exist .   In other words we can say that business environment is the combination of internal and external forces which are having direct or indirect impact on the business. Internal forces includes rules,regulations, policies etc External forces includes customers, government, technology etc. Definition of Business Environment by various authors ''Business Environment encompasses -climate' or set of conditions,political or institutional in which business operations are co...

In management there are certain principles which are developed by managers through continuous observation. These principals are called as general guidelines which are used by the managers to solve their problems and to take various decision.Principles of management are general guidelines which provide a solution but it does not provide the solution as one for all. The principles of management are not like the principles of science which are rigid.The principles of management are not rigid they need to be modified as per the requirement.Along with that the principle of management are applied on human beings so they are applied with more creativity and as the situation demands.   Fayol' Principels of Management Henri Fayol (1841-1925)was a french management theorist. His theories deal with organisation of production. Fayol was the first to identify four functions of management -planning, organising, directing,and controlling.He also propounded 14 principles of management which were p...

Function of management Management is the process of planning, organising,staffing, directing and controlling so, all these steps are the main functions of management.All these functions are performed to achieve the goals of organisation. 1.Planning Planning is first and most important function of management.This function is performed to make the future plans of the business and also to makes goals.     Planning is the function of determining in advance what to do, how to do and who is going to do. 2. Organising Organising is the second important function of management or we can say that organising is the second step in the process of management.      Organising is the function of deciding the framework of the whole organisation.This function will help in deciding that who is superior to whom ,what are the authority and responsibility of them. 3. Staffing Staffing is the function of management which is related with human resource under staffing function the manag...