EXCELMI

NDSACADEMI
CGROUP

BUSI
NESSENVI
RONMENT

2.
1Int
roduct
ion
Abusi
nessdoesnotoper
atei
nav
acuum.Gener
all
y,abusi
nessoper
atesi
n
a mul
ti
facet
ed env
ironment(
an env
ironmentwi
th many par
ts)
.The
env
ironmenti
tsel
fissubj
ectt
oal
otofchanges.Ther
elat
ionshi
pbet
ween
busi
nessandi
tsenv
ironmenti
soneofmut
ual
i
ty:t
hati
s,t
heenv
ironment
exer
tspr
essur
eont
hebusi
nesswhi
l
ethebusi
ness,i
ntur
n,i
nfl
uences
someaspect
sofi
tsenv
ironment
.Thenat
ureoft
heenv
ironmenti
nwhi
ch
t
hebusi
nessent
erpr
iseoper
ates,
ther
efor
e,needst
obecl
ear
lyunder
stood
bymanager
s.
2.
2Nat
ureoft
hebusi
nessenv
ironment
Busi
nessenv
ironmentcanbedef
inedasasetoff
act
orsorcondi
ti
onst
hat
ar
eext
ernalt
othebusi
nessbutwhi
chhav
einf
luenceont
heoper
ati
onsof
t
hebusi
nessent
erpr
ise.Byext
ernal
,wemeant
hatt
hesef
act
orsorf
orces
ar
enotusual
l
ywi
thi
nthecont
roloft
hebusi
nessent
erpr
ise.Busi
ness
env
ironmentmayal
sobeseenast
heweboff
orceswhi
chf
ormt
heset
ti
ng
i
nwhi
cht
hef
ir
m makesi
tsdeci
sions.Fort
hef
ir
mtosucceed,
itmustt
ake
i
tsenv
ironmenti
ntoaccounti
nmaki
ngi
tsdeci
si
ons.
Thecondi
ti
onsorf
act
orswi
thi
nthef
ir
m const
it
utei
tsi
nter
nal
env
ironment
.
Unl
i
ket
heel
ement
soft
heext
ernalenv
ironment
,thesecondi
ti
ons,f
act
ors
orpr
ocesses ar
e gener
all
yregar
ded as cont
rol
l
abl
e byt
he f
ir
m.For
exampl
e,t
henat
ureoft
hepr
oduct
ionanddi
str
ibut
ionf
aci
l
iti
es,f
inanci
al
and human r
esour
ces,t
he qual
i
ty of i
nter
per
sonaland i
nter
-gr
oup
r
elat
ionshi
ps,
etc.
,ar
esubj
ectt
othecont
rol
oft
hef
ir
m.
Theext
ernalenv
ironmenti
sgener
all
yregar
dedasuncont
rol
l
abl
easno
 EXCELMI
NDSACADEMI
CGROUP

si
ngl
efi
rm candet
ermi
neori
nfl
uencei
t.Theext
ernalenv
ironmenti
sthe
set
ti
ngi
nwhi
chal
lfi
rmsi
nthei
ndust
ryoper
ate.I
tisnotev
eryel
ementof
t
heext
ernalenv
ironmentt
hati
srel
evantorsi
gni
fi
cantatapoi
nti
nti
met
o
a gi
ven f
ir
m as i
tmakes deci
sions.Some aspect
s oft
he ext
ernal
env
ironmentar
edi
rect
lyr
elev
antandmustbet
akeni
ntoconsi
der
ati
onbya
f
ir
minmaki
ngdeci
sions.
Someel
ement
soft
heext
ernal
env
ironmenthav
edi
recti
mpl
i
cat
ionsf
ort
he
successf
uloper
ati
onsoft
hef
ir
m.Forexampl
e,t
hebehav
iourofaf
ir
m’s
cust
omer
s,banker
sandsuppl
i
ershav
eimmedi
ateanddi
rectef
fectont
he
oper
ati
onsoft
hef
ir
m.El
ement
sorf
act
orsoft
hisnat
urear
esai
dtobel
ong
t
othedi
rect
-act
ioncomponentoft
heext
ernal
env
ironment
.
Thedi
rect
-act
ionenv
ironmenti
sal
soknownast
het
askenv
ironmentor
oper
ati
ngenv
ironment
.Ot
herel
ement
soft
hedi
rect
-act
ionenv
ironmentar
e
compet
it
ors,di
str
ibut
ors,gov
ernmentagenci
es,t
hei
mmedi
atecommuni
ty
andspeci
ali
nter
estgr
oups.
Thei
ndi
rect
-act
ioncomponentoft
heext
ernalenv
ironmentconsi
stsof
f
act
orsorf
orcest
hathav
eagener
ali
nfl
uenceont
heoper
ati
onsoft
hef
ir
m.
Thesef
act
orsorf
orcesar
ecommont
oal
lthef
ir
msi
ntheeconomy
.Whi
l
e
eachf
ir
mint
hesoci
etymustunder
standt
henat
ureof
,andt
hechanges
occur
ri
ngi
nthei
ndi
rect
-act
ionenv
ironment
,suchchangesappl
ytoev
ery
f
ir
m oper
ati
ngi
ntheeconomy
.
The i
ndi
rect
-act
ion env
ironment i
s al
so r
efer
red t
o as t
he gener
al
env
ironmentwhi
chcanbecl
assi
fi
edi
ntoeconomi
c,soci
o-cul
tur
al,
pol
i
tical
,
t
echnol
ogi
calandl
egal
/publ
i
cpol
i
cyenv
ironment
.Usual
l
y,af
ir
m’sext
ernal
env
ironmenti
sdi
scussedi
nthecont
extoft
henat
ional
economyi
nwhi
chi
t
oper
ates.
 EXCELMI
NDSACADEMI
CGROUP

Howev
er,wi
thgl
obal
i
zat
ion,changesoccur
ri
ngi
ntheeconomi
esofot
her
nat
ions mayhav
e ef
fecton t
he oper
ati
ons oft
he f
ir
m.Forexampl
e,
changes occur
ri
ng i
nthe economyoft
he Uni
ted Ki
ngdom mayhav
e
i
mpl
i
cat
ionsf
orcer
tai
nfi
rmsi
nNi
ger
ia.Hence,anot
herl
eveloft
hef
ir
m’s
ext
ernalenv
ironmenti
sthei
nter
nat
ionalorgl
obalenv
ironment
.Li
ket
he
gener
alenv
ironment
,thecomponent
soft
hei
nter
nat
ionalenv
ironmentar
e
economi
c,soci
o-cul
tur
al,pol
i
tical
,technol
ogi
caland l
egal
/publ
i
c pol
i
cy
env
ironment
.
2.
3Impor
tanceofbusi
nessenv
ironment
Abusi
nessdependsoni
tsenv
ironmentf
ort
hesuppl
yofal
li
tsi
nputandat
t
hesamet
imeabsor
bst
heout
putoft
hebusi
nessent
erpr
ise.
Theenv
ironmentpr
ovi
desoppor
tuni
ti
esf
oral
ter
nat
ivei
nvest
mentwhi
ch
t
hebusi
nessmanagercanexpl
oitt
ohi
sorheradv
ant
age.Ont
heot
her
hand,t
he env
ironmentcoul
d const
it
uteat
hreatorconst
rai
ntt
othe
busi
nessent
erpr
isei
fchangesi
nitar
eunf
avour
abl
e.
Forabusi
nesst
osur
viv
eint
hel
ongr
un,i
tmustbeseenascopi
ng,
adapt
ing,
andr
espondi
ngf
avour
abl
ytot
heenv
ironmenti
toper
atesi
n.
Changesi
ntheext
ernalenv
ironmentofabusi
nessmayi
nduceachangei
n
t
hest
rat
egy
,st
ruct
ure,t
echnol
ogyort
henat
ureofhumanr
esour
cest
hat
t
hef
ir
m empl
oys.Forexampl
e,achangei
nthecompet
it
iveenv
ironment
mayf
orceabusi
nessf
ir
mtoi
ntr
oducenewormodi
fi
edpr
oduct
sinor
der
t
oret
ain/
expandi
tsmar
ketshar
e.
Thef
oll
owi
ngar
ether
efor
e,t
hei
mpor
tanceofbusi
nessenv
ironment
a.Det
ermi
ningoppor
tuni
ti
esandt
hreat
s
The i
nter
act
ion bet
ween t
he busi
ness and i
ts env
ironmentgi
ves t
he
adv
ant
ageofi
dent
if
yingoppor
tuni
ti
esf
orandt
hreat
sagai
nstt
hebusi
ness.
 EXCELMI
NDSACADEMI
CGROUP

Thebusi
nessmanagercant
henst
rat
egi
set
omaxi
miset
heoppor
tuni
ti
es
andmi
nimi
set
het
hreat
s.
b.Gi
vesdi
rect
ionalcl
ari
ty
Thei
nter
act
ionwi
l
lleadt
oopeni
ngupofnew f
ront
ier
sforgr
owt
hand
sust
ainabi
l
ityoft
hebusi
ness.
c.Ser
vesasacont
inuousl
ear
ningpr
ocess
Manager
s ar
e mot
ivat
ed t
o cont
inuousl
y updat
e t
hei
r knowl
edge,
under
standi
ngandski
l
lst
omeett
hechal
l
engesofbusi
ness.
d.I
magebui
ldi
ng
Busi
ness i
nter
act
ion wi
th t
he env
ironment hel
ps t
he busi
ness
or
gani
sat
ionst
oimpr
ovet
hei
rimagebybei
ngsoci
all
yresponsi
ble.
e.I
dent
if
icat
ionoff
ir
m’sst
rengt
handweakness
Busi
nessenv
ironmenthel
pst
oident
if
yst
rengt
hsandweaknessesoft
he
busi
nessor
gani
sat
ionf
ori
mmedi
ater
esponseoft
hemanagement
.
2.
4El
ement
sofGener
alExt
ernalEnv
ironment
2.
4.1Economi
cEnv
ironment
Thi
sisdef
inedbyf
act
orssuchas:
(
a)Gr
ossDomest
icPr
oduct(
GDP)
(
b)Gov
ernmentf
iscal
andmonet
arypol
i
cies
(
c)Unempl
oymentr
ate
(
d)Exchanger
ate
(
e)I
nfl
ati
onr
ate,
and
(
f)Capaci
tyut
il
izat
ion
Onemustt
akecogni
zanceoft
hef
actt
hatt
heabov
efact
orscoul
danddo
oper
ate mostoft
he t
ime si
mul
taneousl
y.I
nvar
iabl
y,manager
sint
he
or
gani
zat
ion shoul
d be concer
ned aboutt
he t
rends i
nthe economi
c
 EXCELMI
NDSACADEMI
CGROUP

condi
ti
onsi
nthei
rdeci
sion-
maki
ng.
2.
4.2Soci
o-Cul
tur
alEnv
ironment
Thi
sisacompl
exchai
nofsoci
alandcul
tur
alcondi
ti
onspr
evai
l
ingi
nthe
soci
etywhi
chhav
efarr
eachi
ngef
fect
sonbusi
nesscondi
ti
ons.Thesoci
al
and cul
tur
alcondi
ti
ons i
n whi
ch t
he or
gani
zat
ion oper
ates can be
under
stoodbyst
udy
ingt
hedemogr
aphi
cchar
act
eri
sti
csoft
hepopul
ati
on,
nat
ureandl
i
fest
yleoft
hepeopl
e,t
hegr
oupst
heyf
orm andt
henat
ureof
i
nter
act
ionsamongt
hegr
oupsandt
hei
nst
it
uti
onst
heyhav
ecr
eat
edf
or
t
hemsel
ves.Forexampl
e,t
her
eli
gious,et
hni
candsoci
alst
rat
if
icat
ionof
t
hepopul
ati
onandt
hedegr
eeofhar
monyandi
ntegr
ati
onwhi
chexi
stsi
n
t
he speci
fi
c soci
ety ar
e key i
ndi
cat
ors oft
he nat
ure oft
he soci
al
env
ironment
.The cr
ime r
ate and l
evelofper
cei
ved i
nsecur
it
yint
he
env
ironmenthav
esi
gni
fi
canti
mpl
i
cat
ionsf
ormanager
sandt
hei
ref
for
tsat
achi
evi
ngt
hei
rgoal
s.
Thecul
tur
alcondi
ti
onsar
eindi
cat
edbyv
aluesandv
aluesy
stems,mor
als,
bel
i
efsandt
henor
ms,
whi
chcont
rol
thebehav
iour
alpat
ter
nsoft
hepeopl
e.
Al
ltheseassi
stabusi
nesst
oful
l
yunder
standhow wel
litwoul
dcope,
af
fectandi
ntegr
atei
tsel
fint
hemai
nst
ream oft
hings.
2.
4.3Pol
it
icalenv
ironment
Ev
erygoodgov
ernmentshoul
densur
ethatt
her
ear
est
ruct
uresi
npl
acef
or
t
hemai
ntenanceofl
aw andor
der
,pr
ovi
si
onofbasi
cinf
rast
ruct
ureand
secur
it
yofl
i
feandpr
oper
tyt
ocr
eat
eanat
mospher
ewher
emeani
ngf
ul
busi
nessact
ivi
ti
escant
hri
ve.Thegov
ernmentshoul
dal
soensur
ethati
ts
pol
i
cies,l
awsandr
egul
ati
onsshoul
dhel
ptoaccel
erat
eandi
mpr
ovet
he
wel
far
eoft
hesoci
ety
.Inv
iewoft
hef
oregoi
ng,
busi
nessor
gani
zat
ionst
hat
ar
ear
medwi
tht
hepol
i
cyt
hrustoft
hegov
ernmentar
eabl
etoant
ici
pat
e
 EXCELMI
NDSACADEMI
CGROUP

t
he pul
se and di
rect
ion f
ort
he gov
ernmentand t
her
eby adj
ustt
hei
r
oper
ati
onsaccor
dingl
y.
Howev
er,i
nti
mesofpol
i
ticali
nst
abi
l
ity
,ther
eisa si
tuat
ion ofpol
i
cy
i
nst
abi
l
ityanduncer
tai
ntyf
rom t
hepoi
ntofv
iewofbusi
nessor
gani
zat
ions.
I
naddi
ti
on,
inmostdev
elopi
ngnat
ionsl
i
keNi
ger
ia,
Ghana,
Liber
ia,
Gambi
a,
et
c.,achangei
ngov
ernmentdoesnotal
way
sfol
l
owcl
ear
-cutpr
ocedur
es.
Fr
equentchangesi
ngov
ernment
,especi
all
ydur
ingmi
l
itar
ydi
ctat
orshi
ps,
al
socr
eat
eunnecessar
ytensi
onsanduncer
tai
nti
es.
2.
4.4Technol
ogi
cal
env
ironment
The t
echnol
ogi
calenv
ironmentcan be v
iewed as t
he st
ate oft
he
appl
i
cat
ionofsci
ent
if
icpr
inci
plesandmechani
calar
tst
ovar
ioust
asksi
n
t
hesoci
ety
.Iti
ncl
udest
hemet
hods,t
echni
quesandappr
oachesadopt
ed
f
orpr
oduct
ionofgoodsandser
vicesandi
tsdi
str
ibut
ion.I
ntheNi
ger
ian
cont
ext
,thel
ocalt
echnol
ogyi
sut
il
izedbyt
hosewhoengagei
npeasant
f
armi
ng,smal
lscal
ebusi
nessesandev
eni
nthemi
ning,quar
ryi
ngand
const
ruct
ionbusi
nesses.Ont
heot
herhand,mor
eadv
ancedt
echnol
ogyi
s
empl
oyedi
ntheoi
landgasi
ndust
ry,
steel
indust
ry,
brewer
ies,
text
il
e,banks,
hospi
tal
s,et
c.
Ni
ger
ia,Ghana,Li
ber
ia,et
c.ar
enotsel
fsuf
fi
ci
enti
nthei
rtechnol
ogi
cal
i
nputast
heyr
elyheav
il
yonmoder
ntechnol
ogi
esf
rom t
heUni
tedSt
atesof
Amer
ica, Japan, Chi
na, I
ndi
a, Kor
ea, Eur
ope, et
c. Howev
er,t
hei
r
dependenceonf
orei
gnt
echnol
ogi
eshast
osomeext
ent
,adv
ancedt
hei
r
t
echnol
ogi
cal
cli
mat
esposi
ti
vel
y.
Though,notmuchi
scur
rent
lybei
ngaccompl
i
shedbecauseoft
hel
i
ttl
e
i
nvest
mentbyt
hepr
ivat
eandpubl
i
csect
orsi
nResear
chandDev
elopment
(
R&D)
,but
,wi
tht
headv
entofmanyuni
ver
sit
ies,
pol
ytechni
csandr
esear
ch
 EXCELMI
NDSACADEMI
CGROUP

i
nst
it
utes,
signi
fi
canti
mpr
ovement
sar
eexpect
ed,
ifcoor
dinat
edef
for
tsar
e
madet
o har
nesst
hei
rout
put
sforr
api
dtechnol
ogi
caldev
elopmentof
t
hesecount
ri
es.
2.
4.5Legal
/publ
icpol
icyenv
ironment
Thel
egalenv
ironmentofbusi
nessconsi
stsoft
hel
aws,r
egul
ati
onsand
pr
ocedur
es ofa count
rywhi
ch busi
ness ent
erpr
ises ar
e expect
ed t
o
compl
ywi
thi
nthecour
seoft
hei
roper
ati
ons.Tosomeext
ent
,thesel
aws
mayf
aci
l
itat
esuccessf
ulbusi
nessconductaswel
lasconst
it
utemaj
or
handi
capst
osuccessf
ulper
for
mance.Howev
er,compani
eswi
l
li
ngt
odo
busi
nessi
n anycount
ryar
erequi
red t
o obt
ainl
i
cencesf
rom r
elev
ant
gov
ernmentagenci
es.
Fur
ther
mor
e,i
n car
ryi
ng outt
hei
roper
ati
ons,busi
nessent
erpr
isesar
e
r
equi
redbyl
aw t
opayper
sonalandcompanyi
ncomet
axes,v
alueadded
t
ax,
capi
talgai
nst
ax,
educat
iont
ax,
impor
tdut
ies,
exci
sedut
ies,
etc.Ther
e
ar
e al
so l
abourl
aws t
hatr
egul
atet
he cont
ractofempl
oyment
,the
r
elat
ionshi
pbet
weenempl
oyer
sandl
abouruni
ons,t
hemi
nimum agea
per
sonmustat
tai
nbef
orehe/
shecanbel
awf
ull
yempl
oyed,empl
oyee
compensat
ion,
etc.
I
naddi
ti
on,t
hesebusi
nessor
gani
zat
ionsespeci
all
yint
hear
easoff
ood,
dr
ugs,cosmet
ics,bot
tl
edwat
er,chemi
cal
s,et
c.,ar
etober
egi
ster
edwi
th
t
he Nat
ionalAgency f
orFood and Dr
ugs Admi
nist
rat
ion and Cont
rol
(
NAFDAC)
.Thus,pr
oduct
ionofr
ati
onal
,wel
l
-i
ntent
ionedpol
i
cies,l
awsand
r
egul
ati
ons,
whi
char
eexpect
edt
omai
ntai
n,pr
ovi
de,
secur
eandaccel
erat
e
soci
alandeconomi
cdev
elopmentoft
hesoci
etyi
sat
askt
hatpubl
i
cpol
i
cy
i
sdesi
gnedt
oachi
eve.
 EXCELMI
NDSACADEMI
CGROUP

2.
4.6Ecol
ogi
calenv
ironment
Oper
ati
onsofbusi
nessent
erpr
isesof
tenaf
fectt
hephy
sicalandecol
ogi
cal
env
ironment
soft
hei
rhostcommuni
ti
es.Thi
sismor
esoi
nthecaseof
manuf
act
uri
ng concer
ns and mi
ner
al-
expl
oit
ing i
ndust
ri
es whi
ch l
eav
e
l
ast
ing i
mpact on t
he phy
sicaland ecol
ogi
calenv
ironment
s.Many
manuf
act
uri
ngi
ndust
ri
esemi
tcar
bongaseswhi
chpol
l
utet
heenv
ironment
andar
emai
nlyi
ndi
ctedf
ort
hegl
obalwar
mingcur
rent
lypl
agui
ngt
hewhol
e
wor
ld.Thesecl
i
mat
icchangesar
ecausi
ngecol
ogi
caldi
stor
ti
onswhi
char
e
t
hreat
eni
ngt
hev
eryexi
stenceoft
hewor
ld.Tor
educet
hei
mpactoft
hese
emi
ssi
ons,t
he gl
obalcommuni
tyi
s adv
ocat
ing enact
mentofmor
e
ef
fect
iveenv
ironment
all
awsi
nal
lcount
ri
es,mostespeci
all
y,t
hoseoft
he
dev
elopedeconomi
eswhi
char
elar
gel
yresponsi
blef
ort
hem.
Oi
lexpl
orat
ion occasi
onal
l
yleads t
o oi
lspi
l
lages whi
ch pol
l
utet
he
env
ironment
,leadi
ngt
olossofi
ncomeanddi
srupt
ionofsoci
alact
ivi
ti
esof
t
hei
rhostcommuni
ti
es.Thi
s of
ten l
eads t
o host
il
it
yfr
om t
he host
communi
ti
es.Ev
ent
ual
l
y,oper
ati
onsoft
heoi
lcompani
esar
edi
srupt
edby
mi
l
itantel
ement
soft
hehostcommuni
ti
esandpr
essur
egr
oups.Thi
sis
v
eryev
identi
ntheoi
l
-pr
oduci
ngcommuni
ti
esoft
heNi
gerDel
tar
egi
onof
Ni
ger
ia.
Mi
ningcompani
esof
tenl
eav
eopenpi
tsandunder
groundt
rencheswhi
ch
col
l
apseov
ert
imecr
eat
ingdamagest
othephy
sicalenv
ironmenti
nfor
m
ofchemi
calpol
l
uti
onandgul
l
yer
osi
on.Thesedamagesr
esul
tindi
sast
ers
andcostgov
ernment
sandhostcommuni
ti
esdear
lyi
nlossofhumanl
i
ves
andi
ncome.
I
tist
her
efor
eessent
ialf
ormanager
stor
egul
arl
yassesst
hei
mpactoft
he
oper
ati
onsoft
hei
rcompani
esont
heecol
ogi
calandphy
sicalenv
ironment
s
 EXCELMI
NDSACADEMI
CGROUP

andt
akemeasur
est
oreducesuchi
mpact
swher
etheyar
enegat
ive.

2.
4.7I
nter
nat
ionalenv
ironment
Thei
nter
nat
ionalenv
ironmentofbusi
nessr
efer
stoal
lthoseel
ement
son
t
he i
nter
nat
ionalscene,whi
ch can hel
p ori
nhi
bitt
he deci
si
ons and
oper
ati
onsoft
hebusi
nessent
erpr
ise.Changesi
ntheeconomi
c,soci
al,
t
echnol
ogi
cal
,pol
i
ticalandpubl
i
cpol
i
cyi
ssuesaf
fectt
heoper
ati
onsof
busi
nesses.Thi
sisbecausemostcompani
esdependoni
mpor
tedr
aw
mat
eri
als,
technol
ogyandot
herser
vicesorexpor
tthei
rgoodsandser
vices
ov
erseas.
Busi
nessent
erpr
isesal
soseekt
oadoptst
andar
dsandbestpr
act
icest
hat
canenabl
ethem compet
eef
fect
ivel
y.Var
iousenv
ironment
al,soci
aland
l
egali
ssues,whi
ch emanat
efr
om t
he i
nter
nat
ionalscene,i
nfl
uence
deci
sion-
maki
ngi
ndomest
icor
gani
zat
ions.Forexampl
e,pr
otect
ionoft
he
env
ironmenthasbecomeamaj
ori
ssuewhi
chal
lbusi
nessent
erpr
isest
ake
i
ntoaccounti
nthei
roper
ati
ons.
Ot
heri
ssues i
ncl
ude compl
i
ance wi
th st
andar
ds est
abl
i
shed by t
he
I
nter
nat
ionalLabourOr
gani
zat
ion(
ILO)
,ther
ight
sofwomenandchi
l
dren,
pr
omot
ionofcompet
it
ionandpr
otect
ionofi
ntel
l
ect
ualpr
oper
tyr
ight
s,
t
hroughv
ari
ousi
nter
nat
ionalagr
eement
s,especi
all
yundert
heWor
ldTr
ade
Or
gani
zat
ion(
WTO)
.
2.
5Gl
obal
izat
ion
Gl
obal
i
zat
ionmeans‘
i
ntegr
ati
ng’t
heeconomyofacount
rywi
tht
hewor
ld
economy
.Itcanal
sobedef
inedast
hepr
ocessofwor
ld-
wideeconomi
c
i
ntegr
ati
onandgr
owi
ngi
nter
-dependence,i
nter
connect
ednesst
hrought
he
f
low ofgoods,ser
vices,capi
tal
,peopl
eandi
nfor
mat
ionamongnat
ionsi
n
 EXCELMI
NDSACADEMI
CGROUP

t
hemoder
nwor
ld.
At
rul
ygl
obal
i
zedcor
por
ati
onv
iewst
heent
ir
ewor
ldasasi
ngl
emar
ket
,and
i
tdoesnotdi
ff
erent
iat
ebet
weent
hedomest
icmar
ketandf
orei
gnmar
ket
s.
Fact
orsi
nfl
uenci
nggl
obal
izat
ion:
Accor
dingt
otheBr
it
anni
caConci
seEncy
clopaedi
a(2002)someoft
he
f
act
orswhi
chhav
econt
ri
but
edt
ogl
obal
i
zat
ionar
easf
oll
ows:
(
i)t
he phenomenalgr
owt
hin communi
cat
ion ar
isi
ng f
rom f
ast
-paced
dev
elopmenti
ncommuni
cat
iont
echnol
ogy
(
ii
)Impr
ovedt
ranspor
tat
ionser
vices
(
ii
i)Massmi
grat
ionandt
hemov
ementofpeopl
es
(
iv)A l
evelofeconomi
c act
ivi
tyt
hathas out
grown nat
ionalmar
ket
s
t
hrough i
ndust
ri
alcombi
nat
ions and commer
cialgr
oupi
ngs t
hatcr
oss
nat
ional
front
ier
s,and,
(
v)I
nter
nat
ionalagr
eement
sthatr
educet
hecostofdoi
ngbusi
nessi
n
f
orei
gncount
ri
es.
2.
5.1TheI
mpl
icat
ionsofgl
obal
izat
ionf
ormanagementandbusi
ness
ent
erpr
isesar
e:
(
a)Asar
esul
tofgr
eat
erl
i
ber
ali
zat
ionoft
hef
low ofgoods,ser
vices,
capi
tal
,labourandi
nfor
mat
ion,t
her
eisanopeni
ngupofmar
ket
s,and
i
nvest
mentoppor
tuni
ti
esamongnat
ions.
(
b)Fi
rmsi
nthel
essdev
elopedcount
ri
esoft
hewor
ld,
toal
argeext
ent
,ar
e
atadi
sadv
ant
agear
isi
ngf
rom t
hemor
eint
ensecompet
it
ionf
rom bet
ter
endowedcompani
esi
ntheadv
ancednat
ions.
(
c)Mer
ger
s,acqui
sit
ionsandst
rat
egi
cal
l
iances,hav
eresul
tedaspoor
er
andweakerf
ir
msar
eswal
l
owedupbyt
hest
rongerones.
(
d)Manager
sar
eexpect
edt
obeequi
ppedanddev
elopedt
hroughgr
eat
er
 EXCELMI
NDSACADEMI
CGROUP

cr
oss-cul
tur
alawar
enessandsensi
bil
i
tyast
heycommuni
cat
ewi
tht
hei
r
count
erpar
tsacr
osst
hegl
obe.
(
e)I
tal
l
owsmanager
stoacqui
reski
l
lst
omanagei
ncul
tur
all
ydi
ver
se
set
ti
ngs.
(
f)Bysuchcr
oss-
cul
tur
ali
nter
act
ions,f
ir
msar
eexpect
edt
oachi
eveand
mai
ntai
nhi
gherst
andar
dsi
nter
msoft
hei
rpr
oduct
sandser
vicesaswel
l
ast
hequal
i
tyofmanagementpr
act
ices.
2.
6Env
ironment
alAnal
ysi
s
Env
ironment
alanal
ysi
sinv
olv
est
wo pr
ocesses-
env
ironment
alscanni
ng,
andv
ari
ousef
for
tst
ounder
standt
het
rendsandi
mpl
i
cat
ionsofchangesi
n
t
heenv
ironmentf
ort
heor
gani
zat
ion.
Env
ironment
alscanni
ng consi
stsofpr
ocessesused bya managert
o
moni
torev
ent
soccur
ri
ngi
ntheext
ernalenv
ironmentoft
heor
gani
zat
ion.
Themanagermoni
tor
sev
ent
sinor
dert
ounder
standt
henat
ureoft
he
env
ironmentandt
hechangest
hatar
eoccur
ri
ngi
nit
.
Hav
inggener
atedt
heappr
opr
iat
edat
a,i
tisi
mpor
tantt
ost
udyt
hem i
n
or
dert
ounder
standt
hei
mpl
i
cat
ionsoft
hedat
aont
hegr
owt
handsur
viv
al
oft
heor
gani
zat
ion.Thus,
iti
simpor
tantf
ormanager
sto,
fir
st,
beawar
eof
t
he changes occur
ri
ng i
nthe env
ironment
;second,t
ofor
ecastt
he
condi
ti
onst
hatmayaf
fectt
heor
gani
zat
ioni
nthef
utur
e;and,
thi
rdl
y,ont
he
basi
soft
hef
orecast
,takeappr
opr
iat
edeci
si
onst
oachi
eveef
fi
ci
encyand
ef
fect
ivenessoft
heor
gani
zat
ion.
2.
6.1Env
ironment
alf
orecast
ing
For
ecast
ingaf
for
dsmanager
stheoppor
tuni
tyt
oacqui
reaf
oreknowl
edge
ofwhatl
i
esaheadi
nor
dert
ocopewi
tht
hei
rbusi
nessenv
ironment
.The
f
utur
ecannotbepr
edi
ctedwi
thcer
tai
ntybuti
tcanbef
orecast
edi
nthe
 EXCELMI
NDSACADEMI
CGROUP

senset
hatonecan hav
ean i
nfor
med pr
oject
ion ofaf
utur
eev
entor
condi
ti
on.
Thescopeandar
easwher
efor
ecast
ingcanbedonear
einar
easoft
he
pol
i
tical
,legal
,technol
ogi
cal
,economi
c,ecol
ogi
cal
,cul
tur
aland soci
al
env
ironment
s.Thus,env
ironment
alf
orecast
ing i
scr
uci
albecause v
ital
i
nfor
mat
iongener
atedaboutt
hef
utur
ecour
seofact
ionbecomet
hebasi
c
i
nput
sorr
aw mat
eri
alsf
ormanager
ialdeci
si
on maki
ng,pl
anni
ng and
cont
rol
.
For
ecast
sar
ebasedonf
act
,assumpt
ion,andsomemet
hods/
techni
ques
ofcombi
ning t
hesedat
aand assumpt
ions.Ther
efor
e,t
her
eli
abi
l
ityof
f
orecast
swi
l
lbedependentupont
hel
evel
ofaccur
acyoft
hedat
acol
l
ect
ed,
assumpt
ionsmadeand met
hods/
techni
quesempl
oyed i
nreachi
ng t
he
f
orecast
sint
hef
ir
sti
nst
ance.
Fi
nal
l
y,wecanr
ight
lyi
nfert
hat
:(i
)thef
orecast
ingpr
ocessi
mpr
ovet
he
manager
s‟abi
l
ityt
oappr
eci
atet
hei
nter
playofenv
ironment
alv
ari
abl
esand
howt
oant
ici
pat
e,pr
ocessandcopewi
tht
hem.(
ii
)Themanageri
sabl
eto
expl
ore,i
n adv
ance,t
he v
ari
ous chal
l
enges and oppor
tuni
ti
es as t
hey
pr
esentt
hemsel
vesanddet
ermi
nehowt
osol
vet
hem.(
ii
i)For
ecast
ingai
ds
scanni
ngandv
icev
ersa.
ThePESTELmodeli
saneasynon-
quant
it
ati
vet
echni
queofanal
ysi
ngt
he
env
ironmentofbusi
ness.I
tisusedt
oident
if
ythecr
it
icalel
ement
sofan
ent
it
y’sext
ernal
env
ironment
.
Por
ter
’sDi
amondmodeli
susedt
oexpl
ainwhyent
it
iesi
nsomecount
ri
es
orar
easofapar
ti
cul
arcount
ryenj
oycompet
it
iveadv
ant
ageov
ersi
mil
ar
ent
it
iesi
nthesamei
ndust
ryorsect
or.
 EXCELMI
NDSACADEMI
CGROUP

2.
7Soci
alr
esponsi
bil
it
y
Soci
alr
esponsi
bil
i
ty ofbusi
ness r
efer
stot
he obl
i
gat
ion ofbusi
ness
ent
erpr
isest
oadoptpol
i
ciesandpl
ansofact
ionst
hatar
edesi
rabl
ein
t
ermsoft
heexpect
ati
ons,
val
uesandi
nter
est
soft
hesoci
ety
.
Al
so,
soci
alr
esponsi
bil
i
tyhasbecomeamaj
ori
ssuei
nmanagement
.Maj
or
pr
oduct
ionanddi
str
ibut
ionact
ivi
ti
esi
nmoder
nsoci
eti
esar
ecar
ri
edoutby
or
gani
zat
ions.Mostofsoci
eti
es’r
esour
ces (
fi
nanci
al,i
ntel
l
ect
ualand
mat
eri
al)ar
e undert
he cont
rolofor
gani
zat
ions.These or
gani
zat
ions
si
gni
fi
cant
lyaf
fectt
hef
utur
eofsoci
ety
.
The concept of soci
alr
esponsi
bil
i
ty deal
s wi
tht
he cor
respondi
ng
obl
i
gat
ionst
hat
or
gani
zat
ions hav
etowar
d soci
ety
.Accor
ding t
o Gr
if
fi
n(2004)
,soci
al
r
esponsi
bil
i
tyi
sthesetofobl
i
gat
ionsanor
gani
zat
ionhast
opr
otectand
enhancet
hesoci
etyi
nwhi
chi
tfunct
ions.
2.
7.1Ar
easofsoci
alr
esponsi
bil
it
ies
Accor
ding t
o Schemer
hor
s(1989) manager
s shoul
d pay par
ti
cul
ar
at
tent
iont
othei
rsoci
alr
esponsi
bil
i
tiesi
nthef
oll
owi
ngar
eas:
(
a)Ecol
ogyandEnv
ironment
alQual
it
y
(
i)Pol
l
uti
oncl
ean-
upandpr
event
ionofdamaget
othenat
ural
env
ironment
(
ii
)Di
sper
sionorspr
eadofi
ndust
ri
es
(
ii
i)Landuseandbeaut
if
icat
ion
(
b)Consumpt
ion
(
i)Fai
randt
ruei
nlendi
ng,
adv
ert
isi
ngandbusi
nessoper
ati
ons
(
ii
)Pr
oductwar
rant
yandser
vice
(
ii
i)Cont
rol
ofhar
mful
product
s
(
c)Communi
tyneeds
 EXCELMI
NDSACADEMI
CGROUP

(
i)Useofexper
ti
set
osol
vel
ocal
probl
ems
(
ii
)Ai
dwi
thheal
thcar
efaci
l
iti
esandeducat
ion
(
d)Gov
ernmentr
elat
ions
(
i)Lobby
ing
(
ii
)Cont
rol
sofbusi
nesst
hroughpol
i
tical
act
ion.
(
e)Mi
nor
it
iesandbackwar
dcommuni
ti
es

(
i)Tr
aini
ngofunempl
oyed

(
ii
)Equal
empl
oymentoppor
tuni
ty
(
ii
i)Locat
ingpl
ant
sandof
fi
cesi
nmi
nor
it
yar
eas
(
iv)Pur
chasi
ngf
rom backwar
dcommuni
ti
es
(
f)Labourr
elat
ions
(
i)I
mpr
ovedoccupat
ional
heal
thandsaf
ety
(
ii
)Cr
eat
ionofempl
oymentoppor
tuni
ti
es
(
g)Shar
ehol
der
srel
ati
ons
(
i)I
mpr
ovedCor
por
ateGov
ernance
(
ii
)Impr
ovedFi
nanci
alDi
scl
osur
e
(
h)Cor
por
atephi
lant
hropy
(
i)Fi
nanci
alsuppor
tforar
tandcul
tur
e
(
ii
)Speci
alschol
arshi
psandgi
ft
stoeducat
ion
(
ii
i)Fi
nanci
alsuppor
tforchar
it
ies
Soci
alr
esponsi
bil
i
tyi
sal
soexami
nedi
nter
msofeconomi
c,l
egal
,et
hical
andphi
l
ant
hropi
cresponsi
bil
i
ties.
(
a)Economi
cresponsi
bil
i
tyr
equi
rest
hebusi
nessent
erpr
iset
out
il
izet
he
r
esour
cesoft
hesoci
etyorcommuni
tyef
fi
ci
ent
ly.Thi
sist
osayt
hatt
he
busi
ness ent
erpr
ise i
s r
equi
red t
o depl
oy t
he human, mat
eri
al,
 EXCELMI
NDSACADEMI
CGROUP

t
echnol
ogi
calandot
herr
esour
cesacqui
redbyi
tfr
om t
hesoci
etyi
na
mannert
hatmaxi
miz
est
heout
put
/pr
ofi
toft
heoper
ati
onormaxi
mizest
he
v
alue-
addedbyt
heoper
ati
on.Thi
sisar
equi
redr
esponsi
bil
i
tyasi
tnotonl
y
ensur
est
hesur
viv
alandgr
owt
hoft
hebusi
ness,butal
sogener
atesj
obs
andot
herbenef
it
stot
hesoci
ety
.
(
b)Legalr
esponsi
bil
i
ty.Busi
nessent
erpr
ises,asgoodcor
por
ateci
ti
zens,
ar
erequi
redt
oobeyal
lthel
awsandr
egul
ati
onsoft
hel
and.
(
c)Et
hicalr
esponsi
bil
i
ty.Et
hicalr
esponsi
bil
i
tyi
sexpect
edbysoci
etyoft
he
busi
ness ent
erpr
ise.Thi
s means t
hatbey
ond obey
ing t
he l
aw and
compl
yi
ngwi
thal
lregul
ati
onsbyFeder
al,St
ateandLocalGov
ernment
s,
busi
nessent
erpr
iseshav
ethemor
alr
esponsi
bil
i
tyt
odowhati
sri
ghtand
av
oidwhati
swr
ong.Theyar
eexpect
edt
odowhati
sri
ghtandpr
operwi
th
r
espectt
opr
otect
ingt
heenv
ironment
,nat
uralr
esour
cesanduphol
dingt
he
v
aluesoft
hesoci
ety
.Si
mil
arl
y,t
heymustdowhati
sri
ghtandpr
operi
n
r
elat
ion t
o al
lthei
rst
akehol
der
s – empl
oyees,suppl
i
ers,gov
ernment
agenci
es,
etc.
(
d)Di
scr
eti
onar
y/phi
l
ant
hropi
cresponsi
bil
i
ty.I
tisdesi
rabl
ethatbusi
ness
ent
erpr
isesshoul
dusei
tsdi
scr
eti
ont
osol
vesomeoft
hepr
obl
emsof
soci
etysuchasper
vasi
vepov
ert
y,l
ackofi
nfr
ast
ruct
urei
nthecommuni
ti
es
wher
ethey oper
ate,poorheal
th and educat
ionalf
aci
l
iti
es,et
c.Thi
s
r
esponsi
bil
i
tyi
sint
hesel
f-
int
erestoft
hebusi
nessent
erpr
iseasi
treduces
t
ensi
on bet
ween i
tand i
ts hostcommuni
tyand cr
eat
es a f
avour
abl
e
env
ironmentf
ori
ttooper
ate.
2.
7.2.Ar
gument
sforsoci
alr
esponsi
bil
it
y
(
a)Busi
nessor
gani
zat
ionsar
eexpect
edt
orespondmor
efav
our
abl
ytot
he
soci
etyi
nter
msofi
tsneedsbecauset
heyr
ecei
vet
hei
rchar
terf
rom t
he
 EXCELMI
NDSACADEMI
CGROUP

soci
etyandt
hei
rendpr
oduct
sst
il
lgoesbackt
othesoci
ety
.
(
b)Thecr
eat
ionofabet
tersoci
alenv
ironmentbenef
it
sbot
hsoci
etyand
busi
ness.Soci
etygai
nst
hroughbet
ternei
ghbour
hoodsandempl
oyment
oppor
tuni
ti
es;busi
nessbenef
it
sfr
om abet
tercommuni
tyast
hesour
ceof
i
tswor
kfor
ceandt
heconsumer
sofi
tspr
oduct
sandser
vices.
(
c)Busi
nesshasagr
eatdealofpowert
hat
,iti
sreasoned,shoul
dbe
accompani
edbyanequal
amountofr
esponsi
bil
i
ty.
(
d)Soci
ali
nvol
vementdi
scour
agesaddi
ti
onalgov
ernmentr
egul
ati
onand
i
nter
vent
ion.Ther
esul
tisgr
eat
erf
reedom andmor
efl
exi
bil
i
tyi
ndeci
si
on-
maki
ngf
orbusi
ness.
(
e)Soci
alr
esponsi
bil
i
tyi
sint
hel
ongr
uni
nter
estoft
hest
ockhol
der
s.
(
f)Soci
ali
nvol
vementcr
eat
esaf
avour
abl
epubl
i
cimage.Thus,af
ir
m may
at
tractcust
omer
s,empl
oyeesandi
nvest
orswheni
tcr
eat
esagoodpubl
i
c
i
mage.
(
g)Abusi
nesshast
her
esour
ces.Speci
fi
cal
l
y,abusi
nessshoul
dusei
ts
t
alent
ed manager
s,aswel
lasi
tscapi
talr
esour
cest
o sol
vesomeof
soci
ety
’spr
obl
ems.
2.
7.3Ar
gument
sagai
nstsoci
alr
esponsi
bil
it
y
(
a)Thepr
imar
ytaskofbusi
nessi
stomaxi
mizepr
ofi
tbyf
ocusi
ngst
ri
ctl
y
on economi
c act
ivi
ti
es.Soci
ali
nvol
vement coul
dreduce economi
c
ef
fi
ciency
.
(
b)I
nthef
inalanal
ysi
s,soci
etymustpayf
ort
hesoci
ali
nvol
vementof
busi
nesst
hroughhi
gherpr
ices.Soci
ali
nvol
vementwoul
dcr
eat
eexcessi
ve
cost
sforbusi
ness,
whi
chcommi
tit
sresour
cest
osoci
alact
ion.
(
c)Soci
ali
nvol
vementcancr
eat
eaweakenedi
nter
nat
ionalbal
anceof
pay
mentsi
tuat
ion.Thecostofsoci
alpr
ogr
ammes,
iti
sar
gued,
woul
dhav
e
 EXCELMI
NDSACADEMI
CGROUP

t
obeaddedt
othepr
iceoft
hepr
oduct
.Thus,
suchcompani
eswoul
dbeat
adi
sadv
ant
agewhencompet
ingwi
thcompani
esi
not
hercount
ri
est
hatdo
nothav
ethesesoci
alcost
stobear
.
(
d)Busi
nesspeopl
elackt
hesoci
alski
l
lst
odealwi
tht
hepr
obl
emsof
soci
ety
.Thei
rtr
aini
ngandexper
iencei
swi
theconomi
cmat
ter
s,andt
hei
r
ski
l
lsmaynotbeappr
opr
iat
etosol
vesoci
alpr
obl
ems.

2.
7.4Changi
ngConceptofSoci
alResponsi
bil
it
y
As t
he ar
gument
sforand agai
nstsoci
alr
esponsi
bil
i
tysuggest
s,t
he
conceptofsoci
alr
esponsi
bil
i
tyhasev
olv
edov
ert
ime.Ther
ear
edi
ff
erent
st
akehol
der
sint
hebusi
nessent
erpr
isebutmanagementhasnotal
way
s
f
elti
twasr
esponsi
blet
oal
loft
hem.
Att
heear
lyst
ageofsoci
alr
esponsi
bil
i
ty,t
hef
ocuswasont
heowner
sof
t
he busi
ness – t
he shar
ehol
der
s.To management
,the t
ask was t
o
maxi
miz
e pr
ofi
tand sat
isf
ythe expect
ati
ons ofshar
ehol
der
sthr
ough
di
vi
dendpay
-out
.
Wi
tht
ime,manager
s saw t
he need t
o at
tract
,ret
ain and mot
ivat
e
empl
oyees.Hencei
naddi
ti
ont
omeet
ingt
heexpect
ati
onsofshar
ehol
der
s,
managementsoughtt
omeett
heexpect
ati
onsofempl
oyeesbypr
ovi
ding
i
mpr
ovedwor
kingcondi
ti
ons,r
ecogni
zi
ngempl
oyeesr
ight
sanddemands
f
orj
obsecur
it
y,saf
e/heal
thywor
kenv
ironmentandhumandi
gni
ty.
The nextst
akehol
der
sto at
tr
actt
he at
tent
ion ofmanagementar
e
cust
omer
s,suppl
i
ers,di
str
ibut
orset
c.Thet
hrustofsoci
alr
esponsi
bil
i
tyt
o
t
hesest
akehol
der
swer
efai
rpr
ices,hi
ghqual
i
tygoodsandser
vices,saf
e
andheal
thypr
oduct
s,est
abl
i
shmentofgoodr
elat
ionshi
ptoensur
elong
t
erm sust
ainabl
epar
tner
shi
pthati
smut
ual
l
ybenef
ici
al.
Thel
astst
agei
sresponsi
bil
i
tyt
o soci
ety
.Att
hisst
age,management
 EXCELMI
NDSACADEMI
CGROUP

r
ecogni
zes and accept
sresponsi
bil
i
tyt
o be att
he f
oref
rontoft
he
adv
ancementofpubl
i
cgood,pr
otect
ionandgr
eeni
ngoft
heenv
ironment
,
suppor
tforsoci
alandcul
tur
alact
ivi
ti
esandadv
ancementofequi
tyand
j
ust
ice.

2.
8Et
hics
The wor
d“Et
hics”or
igi
nat
ed f
rom t
he Gr
eeek wor
d‘et
hos’
,meani
ng,
char
act
er,
conductandact
ivi
ti
esoft
hepeopl
ebasedonmor
alpr
inci
ples.I
t
i
sconcer
nedwi
thwhati
sri
ghtandwhati
swr
ongi
nhumanbehav
iouron
t
hebasi
sofst
andar
dbehav
iourorconductaccept
abl
ebyt
hesoci
ety
?
Et
hicsi
sdef
inedast
hedi
sci
pli
nedeal
i
ngwi
thwhati
sgoodandbadand
wi
thmor
aldut
yandobl
i
gat
ions.Et
hicsi
sani
ndi
vi
dual
’
sper
sonalbel
i
ef
aboutwhet
herabehav
iour
,act
ionordeci
si
oni
sri
ghtorwr
ong(
Gri
ff
in,
1999)
.Whatani
ndi
vi
dualconsi
der
stober
ightorwr
ong,goodorbad,
comesf
rom v
ari
oussour
ces.
Thef
ami
l
yist
hef
ir
stschooli
nwhi
cht
hechi
l
dlear
ns.Fr
om t
hepar
ent
s,
t
hechi
l
dlear
nsbehav
iour
s,act
ionsanddeci
si
onst
hatar
egoodandt
hose
t
hatar
ebad.Ot
hersour
cesofl
ear
ningar
eeducat
ionali
nst
it
uti
ons,
suchas
school
sandcol
l
egesandr
eli
giousi
nst
it
uti
ons;f
rom peeri
nfl
uence,f
rom
pr
ofessi
onalandt
radeassoci
ati
ons,et
c.,t
owhi
cht
hei
ndi
vi
dualbel
ongs;
t
hei
ndi
vi
dual
’
sper
sonalexper
iences;andsi
tuat
ionalf
act
ors.Al
loft
hese
sour
ces,def
ine f
ort
he i
ndi
vi
dualet
hicalst
andar
ds t
hatgui
de hi
s/her
behav
iour
,act
ionsanddeci
sions.
Busi
nesset
hicsr
efer
stoet
hicalst
andar
dst
hatar
eappl
i
cabl
ewhenpeopl
e
engagei
nbusi
nesst
ransact
ions.Accor
dingt
oWei
hri
chandKoont
z,(
2001)
busi
nesset
hicsi
sconcer
nedwi
tht
rut
handj
ust
ice.I
tisconcer
nedwi
th
 EXCELMI
NDSACADEMI
CGROUP

whati
sgoodorbad,
rightorwr
ongi
nbusi
nesst
ransact
ions.
Mostbusi
nessor
gani
zat
ionsand i
ndeed mostor
gani
zat
ionspr
escr
ibe
et
hicalst
andar
dswhi
chempl
oyeesandot
herkeyst
akehol
der
s,suchas
suppl
i
ersar
eexpect
edt
oadopti
nconduct
ingt
hei
ract
ivi
ti
es.Forexampl
e,
or
gani
zat
ionsdef
inewhati
sfai
randj
ust
,goodandbad,i
ndeal
i
ngwi
th
v
ari
ousst
akehol
der
s,suchasempl
oyees,
cust
omer
s,et
c.
Fi
nal
l
y,i
tcoul
dber
easonedf
urt
hert
hatEt
hicsgobey
ondt
hel
awbecause
t
heyar
est
andar
dsofbehav
iourt
hatar
eexpect
edofbot
hthei
ndi
vi
dual
andt
hecor
por
atel
egalper
son.Et
hicsdef
ine,f
ort
hei
ndi
vi
dual
,whati
s
mor
all
yri
ghtorwr
ong.On t
he ot
herhand,busi
ness et
hics enabl
es
busi
nessmanager
stoquest
iont
hei
rbusi
nessact
ivi
ti
es,
act
ions and deci
sions i
nli
ne wi
th mor
alpr
inci
ples concer
ning t
hei
r
pr
oduct
s,ser
vices,manager
ialcompet
encesandr
elat
ionshi
pswi
tht
he
soci
etyt
heydobusi
nesswi
th.
2.
8.1Manager
ialet
hics
Manager
ialet
hicscanbeseenast
hest
andar
dsofbehav
iourgui
ding
i
ndi
vi
dualmanager
sint
hedi
schar
geoft
hei
rwor
kassi
gnment
svi
s-a-
vis
t
hei
rrel
ati
onshi
pwi
thoneanot
her
,andwi
tht
hei
ror
gani
zat
ions.
2.
8.2Thet
hreear
easofmanager
ialet
hicsar
e:
i
.Howt
heor
gani
zat
iont
reat
sit
sempl
oyees:
a.Recr
uit
mentandsepar
ati
on
b.Wor
kingcondi
ti
ons
c.Wagesandi
ncent
ives
d.I
ndi
vi
dual
respectashumanbei
ngs
e.Heal
thandsaf
ety
 EXCELMI
NDSACADEMI
CGROUP

i
i
.Howempl
oyeest
reatt
heor
gani
zat
ion
a.Conf
li
ctofi
nter
est
b.Conf
ident
ial
i
ty
c.Honest
yandaccount
abi
l
ity

i
i
i.Howt
heor
gani
zat
iont
reat
seconomi
cagent
s:
a.Cust
omer
s
b.Compet
it
ors
c.Shar
ehol
der
s
d.Regul
ator
yAut
hor
it
ies
e.Suppl
i
ers
f
.Deal
ers
g.Uni
ons

2.
8.3Codeofet
hics
These ar
e gener
algui
del
i
nes wi
thr
espectt
othe v
alues and et
hical
st
andar
dst
hatshoul
dbeusedbymanager
stogui
det
hei
rdeci
si
ons.
Ar
easofconsi
der
ati
onsast
heyaf
fectet
hicsandwhi
chmustbeaddr
essed
soast
oef
fectposi
ti
ver
esul
ts,
peace,
progr
ess,
andhar
monyar
e:
i
.Br
ibes
i
iHonest
yofr
ecor
dskeepi
ng
i
i
i.Mi
sappr
opr
iat
ionofcor
por
ateasset
s
i
v.Conf
ident
ial
i
tyofcor
por
atei
nfor
mat
ion
v
.Pol
i
tical
cont
ri
but
ions
v
i.Conf
li
ctofi
nter
est
v
ii
.Cust
omer
/suppl
i
err
elat
ionshi
ps
 EXCELMI
NDSACADEMI
CGROUP

2.
8.4Et
hicalconcer
nsofmanager
sast
heyr
elat
etodi
ff
erentpubl
ics:
(
a)Empl
oyees:Thewages,r
ecr
uit
mentpr
ocess,condi
ti
onsofser
vice,
r
etr
enchmentandwel
far
epackageshoul
dbef
airandj
ust
.
(
b)Labouruni
ons:Ther
eshoul
dbehonest
yinhonour
ingagr
eement
s,good
st
rat
egi
esi
nhandl
i
ngnegot
iat
ionsandi
ndust
ri
alact
ion.
(
c)Tr
adeassoci
ati
ons:Loy
alt
yandf
ait
hful
nessi
nhonour
ingagr
eement
s.
(
d) Deal
ers: Honest
y i
n honour
ing agr
eement
s, engagement and
di
sengagementpr
ocesses.
(
e)Cust
omer
:Pr
oductsaf
ety
,val
uepr
oposi
ti
on,
trut
hful
adv
ert
isi
ng.
(
f)Suppl
ier
s:Honest
yinhonour
ingagr
eement
s.
(
g)Compet
it
ors:Fai
rver
susunf
aircompet
it
ion.

(
h)Shar
ehol
der
s:I
nsi
dert
radi
ng,t
rut
hfulst
ewar
dshi
p and conf
li
ctof
i
nter
est
.

(
i)Cr
edi
tor
s:Pay
mentf
orsuppl
i
es.
(
j)Gov
ernment
:Taxev
asi
on,
economi
csabot
ageandt
rut
hful
discl
osur
e.
(
k)Thesoci
etyatl
arge:Env
ironment
alconcer
ns.
(
l)Thef
ir
mit
sel
f:Conf
ident
ial
i
ty,
loy
alt
yandobedi
ence.

NI
GERI
ANI
NSTI
TUTEOFMANAGEMENT(
(N.
I.
M.)

CodeofConductf
orN.
I.
M.Cer
ti
fi
cat
eHol
der
s
i
.Thatt
hepr
ofessi
onal
managerwi
l
lputser
viceabov
esel
f
andwi
l
lseekt
ofi
ndandempl
oymor
eef
fi
ci
entandmor
eeconomi
calway
s
ofget
ti
ngt
hingsdone.
 EXCELMI
NDSACADEMI
CGROUP

i
i
.Thatt
hepr
ofessi
onalmanagerwi
l
lacceptt
hemostscr
upul
ousand
t
ranspar
ent
lyhonestandet
hicalpr
ocessoft
houghtf
oral
ldeci
si
onsi
nhi
s
dai
l
ywor
k,andbehi
msel
ffr
eeofanyf
raudul
entand/
becor
ruptpr
act
ices
andwi
thi
nhi
sscopeofaut
hor
it
y,t
reatal
lper
sonsasbei
ngequal
,and
r
efuset
ogi
vespeci
alf
avour
sorpr
ivi
l
egest
oany
one.
BYORDEROFTHECOUNCI
LLagos
30t
hAugust
,1972
Fi
g.2.
1CodeofEt
hicsofNi
ger
ianI
nst
it
uteofManagement
I
FAC and Pr
ofessi
onal Account
ancy Or
gani
sat
ions (
PAO'
s) hav
e
Pr
ofessi
onalCodesofEt
hicsf
ormember
soft
heaccount
ancypr
ofessi
on,
wi
thr
igor
ouspr
ocessesf
ort
hei
rimpl
ement
ati
onandenf
orcement
.

Et
hicalTool
s
Manager
shav
eav
ari
etyoft
ool
swhi
cht
heycanuset
oreducet
hel
evelof
unet
hical
behav
iour
samongempl
oyees.
(
a)Empl
oyee sel
ect
ion:The sel
ect
ion pr
ocess par
ti
cul
arl
yint
erv
iew,
backgr
oundchecksandr
efer
ees’r
epor
tsar
etool
sthatcanbeusedby
manager
stodet
ectappl
i
cant
swi
thunet
hicaldi
sposi
ti
onandpoormor
al
v
alues.
(
b)St
atementofcodeofet
hicsbyt
hebusi
nessent
erpr
ise.Byf
ormal
l
y
st
ati
ng t
hecodeofet
hicsoft
heor
gani
zat
ion (
a st
atementofet
hics
st
andar
dsandcor
eval
uesoft
heent
erpr
ise)
,manager
sar
eabl
etodef
ine
conduct
sthatar
eaccept
abl
eornotaccept
abl
e.
(
c)Leader
shi
pbyseni
ormanager
s:Thi
sisani
mpor
tantt
oolf
orr
educi
ng
unet
hicalbehav
iour
sint
he ent
erpr
ise.Si
nce manager
s do notl
i
mit
t
hemsel
vest
osay
ingwhati
set
hical
l
yaccept
abl
ebutdosobyt
hei
rown
 EXCELMI
NDSACADEMI
CGROUP

act
ions,
unet
hical
behav
iour
sbyempl
oyeesi
scur
tai
l
ed.
(
d)Rewar
dsandpuni
shment
:Unet
hicalbehav
iour
scanbeconsi
der
abl
y
r
educedbysanct
ioni
ngunet
hicalpr
act
icesofempl
oyeeswhi
l
erewar
ding
t
hosewhomeetandexceedt
heet
hical
standar
dsoft
heent
erpr
ise.
(
e)Et
hicst
rai
ning:Empl
oyeescanbet
rai
nedt
obecomeawar
eoft
he
et
hicalst
andar
dsandv
aluesoft
heent
erpr
iseaswel
lasencour
agi
ngt
hem
t
oadoptt
hest
andar
dsandv
alues.
(
f)Suppor
tinr
esol
vi
nget
hicaldi
l
emmas.Empl
oyeesof
tenf
aceet
hical
di
l
emmasi
nthecour
seoft
hei
rwor
k.Suppor
tfr
om super
visor
s,seni
or
manager
s,counsel
l
ors et
c.,can hel
pinr
esol
vi
ng such di
l
emmas and
encour
aget
heempl
oyeet
odot
her
ightt
hing.
2.
9Cor
por
ateGov
ernance
I
n most cases, schol
ars conf
used gov
ernance wi
th management
.
Meanwhi
l
e,wher
emanagementi
sconcer
nedwi
thr
unni
ngt
hebusi
ness
oper
ati
onsofacompany
,gov
ernanceont
heot
herhandi
smaj
orl
yabout
gi
vi
ngal
eadt
othecompany
,moni
tor
ingandcont
rol
l
ingmanagement
deci
sions.Wi
tht
he i
ssui
ng oft
he new Nat
ionalCode ofCor
por
ate
Gov
ernance(
theCode)f
ort
hePr
ivat
eSect
ori
nNi
ger
iabyt
heFi
nanci
al
Repor
ti
ngCounci
l(FRC)ofNi
ger
iat
aki
ngef
fectf
rom 17Oct
ober2016,
iti
s
i
mper
ati
vet
o consi
dert
he f
actt
hatt
he i
twi
l
lbr
ing abouta uni
fi
ed
cor
por
ategov
ernancecodet
hathasgov
ernancest
andar
ds,wi
thmor
e
count
ry-
speci
fi
c,cont
ext
ualand make or
gani
sat
ions t
o become mor
e
env
ironment
all
y congr
uent and at t
he same t
ime conf
ormi
ng t
o
i
nter
nat
ional
bestpr
act
ices.
Di
ff
erencesbet
weenCor
por
ateGov
ernanceandManagement
i
.Managementdeal
s wi
tht
aki
ng busi
ness deci
si
ons,whi
l
e cor
por
ate
 EXCELMI
NDSACADEMI
CGROUP

gov
ernance
deal
swi
thmoni
tor
ingandcont
rol
l
ingdeci
si
ons,
prov
idi
ngl
eader
shi
pand
di
rect
ion.
i
i
.Managementdeal
swi
thday
-to-
dayr
unni
ngofbusi
nessact
ivi
ti
es,whi
l
e
cor
por
ategov
ernancedeal
swi
thseei
ngt
hatbusi
nessesr
unpr
oper
ly.
i
i
i.Theexecut
ivepowert
odi
rectabusi
nessi
sanaspectofcor
por
ate
gov
ernance,
wher
eas,usageandappl
i
cat
ionoft
hepower
stodi
rectbusi
nessact
ivi
ti
es
i
smanagement
.
i
v.Managementi
saboutf
ormul
ati
ngbusi
nessst
rat
egi
esf
ort
hecompany
,
whi
l
e
cor
por
ategov
ernancei
sther
esponsi
bil
i
tyoft
heboar
dofdi
rect
orsand
ot
herseni
ormanager
sforst
rat
egi
cdeci
sionmaki
ng
Cor
por
ategov
ernancepr
ovi
desanswert
othef
oll
owi
ngquest
ions:
i
.Inwhosei
nter
est
sisacompanygov
erned?
i
i
.Whohast
hepowert
omakedeci
sionsf
oracompany
?
i
i
i.Forwhatai
msorpur
posesar
ethosepower
sused?
i
v.I
nwhatmannerar
ethosepower
sused?
v
.Whoel
semi
ghti
nfl
uencet
hegov
ernanceofacompany
?
v
i.Ar
ethegov
ernor
sofacompanyhel
daccount
abl
efort
hewayi
nwhi
ch
t
heyuset
hei
rpower
s?
v
ii
.Howar
eri
sksmanaged?

2.
9.1Cor
por
ateGov
ernanceDef
ined
Cor
por
ategov
ernancecanber
efer
redt
oast
het
otal
i
tyoft
hesy
stem by
whi
ch compani
esar
e di
rect
ed and cont
rol
l
ed.Byext
ensi
on,cor
por
ate
 EXCELMI
NDSACADEMI
CGROUP

gov
ernance cov
ers act
ivi
ti
es ofcompani
es (
cor
por
ate ent
it
ies)
,St
ate-
ownedent
it
ies,gov
ernmentagenci
esandpar
ast
atal
s(LocalGov
ernment
,
St
atesand Feder
all
evel
s),aswel
lasnon-
gov
ernment
alor
gani
sat
ions
(
chur
ches,mosquesandchar
it
yhomesi
ncl
usi
ve)
.Cor
por
ategov
ernance
descr
ibesal
lthei
nfl
uencesaf
fect
ingt
hei
nst
it
uti
onalpr
ocesses,i
ncl
udi
ng
t
hoseofappoi
nti
ngt
hecont
rol
l
ersand/
orr
egul
ator
s,i
nvol
vedi
nor
gani
si
ng
t
hepr
oduct
ionandsal
esofgoodsandser
vices.Thi
sofcour
sei
snot
l
i
mit
edt
oanyf
orm ofor
gani
sat
ion,
whet
heri
ncor
por
atedornot
.
2.
9.2Needf
orCor
por
ateGov
ernance
TheConceptof“
Cor
por
ateGov
ernance”i
srequi
redf
ort
hepur
posesof
ensur
ingt
hef
oll
owi
ng:
i
.Fai
rness
i
i
.Openness/
transpar
ency
i
i
i.I
ndependence
i
v.Honest
yandi
ntegr
it
y(pr
obi
ty)
v
.Responsi
bil
i
tyandaccount
abi
l
ity
v
i.Reput
ati
on
v
ii
.SoundJudgment
2.
9.3CodesofBestPr
act
icesonCor
por
ateGov
ernancei
nNi
ger
ia
LawsandGui
del
inesRegul
ati
ngCor
por
ateGov
ernance
I
nNi
ger
ia,di
rect
orsofcompani
esowecer
tai
ndut
iest
othei
rcompany
(
thesedut
iesar
eincl
udedi
nCompani
esandAl
l
iedMat
ter
sAct
,1990)
.The
Actal
sor
equi
rest
hedi
rect
orsofacompanyt
opr
esentanannualr
epor
t
and account
stot
he shar
ehol
der
s;t
his hel
ps t
o make t
he di
rect
ors
account
abl
etoal
lst
akehol
der
s(shar
ehol
der
sincl
usi
ve)oft
hei
rcompany
.
I
nsomecount
ri
es,suchast
heUK,wher
elawsoncor
por
ategov
ernance
 EXCELMI
NDSACADEMI
CGROUP

ar
enotst
rong,gui
del
i
nesorcodesofgov
ernancepr
inci
plesandpr
act
ice
hav
ebeeni
ssued.I
nasmuchast
hesegui
del
i
nesar
evol
unt
ary
,onemaj
or
oruni
queaspectofi
tist
hatt
hegui
del
i
nesar
ebackedbymaj
orf
inanci
al
i
nst
it
uti
ons,
stockexchangesandi
nvest
mentor
gani
zat
ions.
Themaj
orar
eascov
eredbycodesofcor
por
ategov
ernancear
easf
oll
ows:
i
.Ther
oleandr
esponsi
bil
i
tiesoft
heboar
dofdi
rect
ors
i
i
.Thecomposi
ti
onandbal
anceoft
heboar
dofdi
rect
ors
i
i
i.Fi
nanci
alr
epor
ti
ng,
nar
rat
iver
epor
ti
ngandaudi
ti
ng
i
v.Di
rect
ors’
remuner
ati
on
v
.Ri
skmanagementandi
nter
nal
cont
rol
v
i.Shar
ehol
der
s’r
ight
v
ii
.Cor
por
atesoci
alr
esponsi
bil
i
tyand et
hicalbehav
iourbycompani
es
(
busi
ness
et
hics)
2.
9.4Compl
ianceRequi
rement
sofCor
por
ateGov
ernance
Thecor
por
ategov
ernancecoder
equi
rest
hat
:
i
.Itsuper
sedesanycor
por
ategov
ernancecodesbef
ore17Oct
ober2016.
i
i
.Iti
smandat
oryf
oral
lpubl
i
ccompani
es(
li
stedornotl
i
sted)
;al
lpr
ivat
e
compani
es t
hatar
e hol
ding compani
es orsubsi
diar
ies oft
he publ
i
c
compani
es;andal
lpr
ivat
ecompani
es(
wit
hmor
ethan8empl
oyees)t
hat
f
il
eret
urns t
o any r
egul
ator
y aut
hor
it
y ot
hert
han t
he Feder
alI
nland
Rev
enueSer
viceandt
heCor
por
ateAf
fai
rsCommi
ssi
on.
i
i
i.I
tset
sthemi
nimum numberofmember
sonaboar
dofdi
rect
orsat8;
t
hisi
sar
evi
sionf
rom t
heSECCor
por
ateGov
ernanceCodeandCodeof
Cor
por
ateGov
ernancef
orBanksandDi
scountHousesi
nNi
ger
iawhi
ch
pr
ovi
dedf
orami
nimum of5.
 EXCELMI
NDSACADEMI
CGROUP

i
v.Compani
esar
erequi
redt
ocompl
ywi
tht
hepr
ovi
si
onsoft
heCodei
nany
annualr
epor
tscov
eri
ngper
iodsbegi
nni
ngonoraf
ter17Oct
ober2016and
anear
li
erappl
i
cat
ionwoul
dbeper
mit
ted.

2.
9.5Sanct
ionsi
nCor
por
ateGov
ernance
Gov
ernmentappr
ovesf
orr
egul
ator
yagenci
est
her
ightt
oanopen-
ended
sanct
ionsf
ornon-
compl
i
ancewi
tht
hecode(
whi
chmaybeappl
i
edt
o
i
ndi
vi
dual
sdi
rect
lyi
nvol
vedandt
hecompanyi
tsel
f)
,andmakest
heCode
enf
orceabl
ebyt
hedi
ff
erentsect
oral
regul
ator
sasmaybeappl
i
cabl
e.
2.
10Summar
y

The env
ironmentofbusi
ness i
s a maj
ordet
ermi
nantoft
he pol
i
cies,
st
rat
egi
es and ov
eral
lper
for
mance ofany busi
ness.I
tis usual
l
y so
compl
exanddy
nami
cthati
tof
tendef
iessi
mpl
eanal
ysi
s.Management
’s
per
cept
ionoft
heenv
ironmenti
nter
msofcompl
exi
ty,
stabi
l
ityorhost
il
it
yis
cr
uci
alt
othesuccessoft
heor
gani
zat
ion.
Gl
obal
i
zat
ionhasmadet
hei
nter
nat
ionalenv
ironmentmor
erel
evantt
othe
managert
hanwast
hecaseaf
ewdecadesago.I
nal
lkeyf
unct
ionalar
eas,
managementneedst
oadaptt
oemer
gingandant
ici
pat
edchangesi
nthe
env
ironment
.
Ther
efor
e,i
nor
dert
osuccessf
ull
ymanaget
hechal
l
engesposedbyt
he
env
ironment
,managementmusthav
ear
eli
abl
esensor
ymechani
sm f
or
gat
her
ingandanal
yzi
ngt
imel
yint
ell
i
genceaboutt
heenv
ironment
.Thi
s
shoul
dgohand-
in-
handwi
thsomequi
cki
n-bui
l
tresponsemechani
smsi
f
t
hebusi
nessi
stosur
viv
e,i
ntoday
’sgl
obal
i
zedI
nfor
mat
ionTechnol
ogy(
IT)
wor
ld.
Et
hicali
ssuesconf
rontbot
hthemanagerandot
herempl
oyeesatt
hewor
k
 EXCELMI
NDSACADEMI
CGROUP

pl
ace.Thesei
ssuesar
isei
nther
elat
ionshi
psbet
weent
heempl
oyeesand
t
hei
rrel
evantst
akehol
der
sorpubl
i
c.Theet
hicalconcer
nsdonotoccuri
na
v
acuum butwi
thi
ntheet
hicalcl
i
mat
eoft
hewi
dersoci
etyandt
heet
hical
cl
i
mat
e est
abl
i
shed wi
thi
nthe f
ir
m.One way i
n whi
ch f
ir
ms and
pr
ofessi
onalbodi
esgui
demanager
sinhandl
i
ngi
ssuesbor
der
ingonet
hics
i
sbyest
abl
i
shi
ngandenf
orci
ngcodesofconduct
.
I
ssuesi
n cor
por
ategov
ernance,codesofbestpr
act
iceson cor
por
ate
gov
ernancei
nNi
ger
ia,compl
i
anceandsanct
ionswer
ewel
ldi
scussedand
enumer
atedi
nthi
schapt
er.

2.
11REVI
EW QUESTI
ONS

Par
t1:Mul
ti
pleChoi
ceQuest
ions
1.Whi
choft
hesei
snotanaspectoft
hei
nter
nal
env
ironment
?
a)mi
ddl
e-menb)owner
s
c)boar
dofdi
rect
orsd)empl
oyees
e)Or
gani
zat
ioncul
tur
e
2.Themoni
tor
ingofext
ernalenv
ironment
alf
orcest
odet
ermi
net
hesour
ce
ofaf
ir
ms’
oppor
tuni
ti
esandt
hreat
sisknownas
a)Regr
essi
onanal
ysi
s
b)Env
ironment
alanal
ysi
sc)Towsanal
ysi
s
d)Cr
it
ical
pat
hanal
ysi
se)SWOTanal
ysi
s
 EXCELMI
NDSACADEMI
CGROUP

3.Cor
por
ategov
ernancescopei
ncl
udest
hef
oll
owi
ng,
EXCEPT
a.Ther
oleandr
esponsi
bil
i
tiesoft
heboar
dofdi
rect
ors
b.Thecomposi
ti
onandbal
anceoft
heboar
dofdi
rect
ors
c.Fi
nanci
alr
epor
ti
ng,
nar
rat
iver
epor
ti
ngandaudi
ti
ng
d.Di
rect
ors’
remuner
ati
on
e.Recr
uit
ment
,sel
ect
ionandpl
acement
4. The ext
ernal env
ironment
al condi
ti
ons under whi
ch busi
ness
or
gani
zat
ionsar
erequi
red t
o compl
ywi
th cer
tai
nlaws,and t
o obt
ain
per
mit
sfr
om t
her
elev
antgov
ernmentagenci
esi
sknownas:
a)Legal
/Publ
i
cpol
i
cyenv
ironmentb)Technol
ogi
cal
env
ironment
c)Pol
i
tical
env
ironment
d)Soci
o-cul
tur
alenv
ironmente)Economi
cenv
ironment
5.Set
sofgener
all
yaccept
edst
andar
dsofsoci
alconducti
sknownas:
a)Et
hics
b)Equi
-f
inal
i
ty
c)Gui
del
i
nesd)Uncer
tai
nty
e)Mut
ual
i
tyofmeani
ng

Par
tII
:Shor
tAnswerQuest
ions
1.Thepr
ocessusedbyamanagert
omoni
torev
ent
soccur
ri
ngi
nthe
ext
ernal
env
ironmentoft
heor
gani
zat
ioni
scal
l
ed.
..
..
..
..
..
..
..
..
..
..
..
..
..
..
..
..
..
..
.
2.Thet
echni
quet
hataf
for
dsmanager
stheoppor
tuni
tyt
oacqui
reaf
ore-
knowl
edge
ofwhatl
i
esaheadi
nor
dert
ocopewi
tht
hei
rbusi
nessenv
ironmenti
s
knownas
.
..
..
..
..
..
..
..
..
..
..
..
..
..
 EXCELMI
NDSACADEMI
CGROUP

3.Thesetofobl
i
gat
ionsanor
gani
zat
ionhast
opr
otectandpr
ovi
def
ort
he
soci
etyi
nwhi
chi
tfunct
ionsi
scal
l
ed………………….
4.Thegener
algui
del
i
neswi
thr
espectt
othev
aluesandet
hicalst
andar
ds
t
hatcan be used bymanager
sto gui
de t
hei
rdeci
si
ons i
s known as
……………….
5.Thepr
ocessofwor
ld-
wideeconomi
cint
egr
ati
onandcommuni
cat
ion
whi
chembr
aces i
nter
dependence,
int
erconnect
ednesst
hrought
hef
lowof
goodsi
scal
l
ed…………………
Sol
uti
on
Mul
ti
pleChoi
ceQuest
ions
1.A
2.B
3.E
4.A
5.A
Shor
tAnswerQuest
ions
1.Env
ironment
alScanni
ng
2.Env
ironment
alf
orecast
ing
3.Soci
alResponsi
bil
i
ty
4.CodeofEt
hics
5.Gl
obal
i
sat
ion