1.1 identify the purposes of different types of organisat tomorrow’s businessmen and managers to be aware of specific changes so as to keep themselves abreast with the latest happenings in the field of business to maintain their survival and sustainability in the market. Therefore, the study of business environment is of atmost importance for the managers and practitioners.
There are two more factors which are not included in definition and which exercise considerable influence on business. They are physical or natural environment and global environment. Therefore, we will study the following environmental factors one by one.
• Global Environment
• Natural Environment
• Political – Legal Environment
• Economic Environment
• Socio-Economic Environment
• Technological Environment
Business environment is becoming very complex day by day as some environmental issues such as deforestation, global warming, depletion of the ozone layer, pollution of land, air and water are no longer strictly the issues related to books and conferences. The leading politicians and managers around the world have picked up the environmental banner. The green marketing movement has been gaining momentum around the world. The businesses are challenged today to develop creative ways to make profits without unduly harming the existing environment. Considering the variety of these sources of change in the environment, global managers are challenged to keep themselves abreast and adjust as necessary. Some companies like Daewoo, Hyundai, Maruti, Tata and Hero-Honda in India, with their pollution prevention programmes are leading the way. Indeed, cleaning up the environment promises to generate whole new classes of jobs in the future.
Gone are the days when business was heavily protected and subsidized