SM – 515 Business Environment 3 Credits [3-0-0]

Academic Group: General Management

Course Outcome:
The paper will enable the students to understand the influence of Environmental Factors and
Legal Dimensions of Business Operations.

Course Content:
Introduction to Business Environment: Socio Economic, Political, Legal Environment,
Components and Significance, Factors and Dimensions Influencing Business Environment.
Economic Environment and Business Fluctuations: Structure and Dimensions of Economy,
Agriculture, Industry and Service Sector, Agricultural Price Policies and Subsidies, PDS,
Industry Policy Evolution, Licensing, Regulatory & Promotional Framework, Privatisation &
Disinvestment, National Economic Planning and Policies, Economic Reforms, Inclusive
Growth. Economic Policies and Business Environment: Fiscal Policy, Union Budget, Public
Debt Crisis and Management, Monetary Policy, Money Supply, Money Demand, Operating
Framework, Inflation, Cause, Consequence & Remedial Measures. International Environment
of Business: International Trade Theories, Balance of Payment, Current Account
Convertibility. Exchange Rate: Determination, Regimes, Currency Convertibility. Bilateral &
Multilateral Trade: GATT, WTO, TRIPS, TRIMS, SAARC. Business Law: Indian Contract
Act, the Sale of Goods Act, the Companies Act, the Consumer Protection Act, Patents Law
and Enforcement, Negotiable Instruments Act.

Essential Readings:
 Palwar, V. K. (2008). Economic Environment of Business. Prentice Hall of India.
 Kapoor, N. D. (2011). Business Law (5th ed.). Sultan Chand publishers.
Suggested Readings:
 Joshi, V., & Little, I. M. D (2006). India’s Economic Reforms, 1991 – 2001. Oxford
University Press.
 Tulsian, P.C. (2001). Business law (2nd ed.). Tata McGraw Hill Publishing Company
Ltd.