PLUS TWO BUSINESS STUDIES NOTES Chapter 3 Business Environment
Chapter 3: Business Environment Chapter 3 – Important Topics: Meaning and Features of Business Environment Importance of Business Environment Dimensions of Business Environment (Economic, Social, Technological, Political, Legal) Economic Environment in India New Economic Policy 1991 – Liberalisation, Privatisation, Globalisation (LPG) Disinvestment – Meaning and Objectives Demonetisation – Meaning, Features, Impact Impact of Government Policy Changes on Business Meaning of Business Environment According to Keith Davis, “Business environment is the aggregate of all conditions, events and influences that surround and affect it.” Environment literally means surroundings in which a person or organisation operates. Business environment refers to all forces – economic, social, political, technological etc. and institutions like suppliers, consumers, competitors, financiers, government etc. which are external to business. Businessmen have very little cont...
