Concept of Business Environment Concept of Business Environment All living creatures including human beings live within an environment. Apart from the natural environment, environment of humans include family, friends peers and neighbors. It also includes man-made structures such as buildings, furniture, roads and other physical infrastructure.
The strategies are devised and formulated for domestic operations first and the overseas operations are secondary. The foreign activities are conducted mainly to distribute surplus.
This approach is suitable for small companies as less investment is required and less risk is involved. The activities are managed by an export department or a separate international division. The local market needs and requirements are met by a team of local employees and various foreign subsidiaries are established to work independently to achieve the objectives and plans of the organization.
Such an approach is generally used by Multi-national Corporations.
C Regiocentric approach — It is applicable when the company caters to different regions or different markets. Each region has a special or distinctive feature depending upon regional factors, political factors, economic factors etc.
The regions are categorized and strategies are formulated accordingly having national and regional headquarters.
D Geocentric approach — It applies for the entire globe or world. A Company following this approach uses common practices and strategies throughout the world i. Common HR and marketing practices. It helps in building a common brand image and goodwill.
Such an approach is used by large scale enterprises.Introduction to Business Environment - Free download as Powerpoint Presentation .ppt), PDF File .pdf), Text File .txt) or view presentation slides online/5(4).
Business Management & Administration Career Cluster Introduction to Business & Technology Course Number Course Description Introduction to Business & Technology is the foundational course for Business and Technology, business and technology skills required for today's business environment.
Knowledge of business principles, the. Environment, Environmentalism, Natural environment Introduction Corporate businesses have become more involved and more interested in taking part in a management system that behaves more environmentally aware.
That 's because today, more than any time in our history, business and the environment are inextricably linked” (para, 2). A. Business Environment may be defined as a set of conditions ± arteensevilla.com term Business Environment is composed of two words µBusiness¶ and µEnvironment¶.
the state in which a person remains busy is known as Business. Concept of Business Environment A business firm is an open system. It gets resources from the environment and supplies its goods and services to the environment.
3 The Environment and Business: The Economy and the State 57 Introduction 57 Models Used in Assessing the Environment 60 Critique of PEST