Class 12 Business Administration: Business Environment
Chapter 12: Business Environment - Learn how economic, social, cultural, technological, political and legal forces shape business, and how liberalization, privatization and globalization changed the Indian environment after 1991. GSEB Class 12 Commerce Business Administration notes covering five topics: Meaning and Concept of Business Environment, Importance of Business Environment, Factors Affecting Business Environment, Liberalization Privatization and Globalization, and Business Environment and Managerial Response.
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Topics(5)
Meaning and Concept of Business Environment
Chapter 12: Business Environment - Meaning and Concept. Learn the six factor families, the four stakeholder groups, the uncertainty of the environment, and how the same environment creates both obstacles and opportunities. GSEB Class 12 Commerce Business Administration notes.
Importance of Business Environment
Chapter 12: Business Environment - Importance. Study the six reasons a business must scan its environment: early entry, managerial sensitivity, grabbing opportunities, identifying dangers, policy decisions and continuous study. GSEB Class 12 Commerce Business Administration notes.
Factors Affecting Business Environment
Chapter 12: Business Environment - Factors Affecting Business Environment. Study internal and external factors, all eight economic sub-factors, social and cultural forces, technology, politics and the legal Acts that govern business. GSEB Class 12 Commerce Business Administration notes.
Liberalization, Privatization and Globalization (LPG)
Chapter 12: Business Environment - Liberalization, Privatization and Globalization (LPG). Learn the 1991 turn, the ten liberalization steps, the meaning and effects of privatization, and the WTO-GATT framework of globalization. GSEB Class 12 Commerce Business Administration notes.
Business Environment and Managerial Response
Chapter 12: Business Environment - Business Environment and Managerial Response. Learn the three types of business units — proactive, reactive and passive — and how a manager reads the environment before it moves. GSEB Class 12 Commerce Business Administration notes.