17 DRV BASILHANS-Online
17 DRV BASILHANS-Online
17 DRV BASILHANS-Online
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Businesses do not operate in a vacuum; they operate in an environment. In this lesson, you will learn about the business
environment, including what makes it up. The objectives of this paper are to develop ability to understand and scan business
environment in order to analyse opportunities and take decisions under uncertainty; and to study the nature, scope and
importance of business environment. Business environment is dynamic concept or a phenomenon what with emerging trends in
business ethics, corporate social responsibility, corporate governance, consumer citizenship etc. Every from/manager should have
a strong conceptual and policy framework to support development and use of business and environmental information in
decision-making.
Thus, environmental scanning means viewing the Proper environmental assessment helps to make optimum
(business) world by undirected viewing or conditioned utilisation of scare human, natural and capital resources.
viewing or informal searching or formal searching. In Systematic analyses of business environment helps the
simple, it means methods of gathering the relevant firm to reduce wastage and make optimum use of available
information for appraising the environment. resources, without understanding the internal and
external environment resources cannot be used in an
Need for and Importance of Scanning of Business effective manner.
William Glueck mentions four techniques for 6. Survival and growth:
environmental analysis verbal and written information;
Systematic analyses of business environment help the firm