Area: Economic Environment and Policy

PGDM (ExP)

Course Title:Business Environment (Course outline

of external faculty)

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Course Outline: Business Environment
Credits: 3
No of Sessions: 20
Course Description
Business is not conducted in a vacuum. It functions within a social, political economic and technological
environment. Unless the business manager studies and understands the business environment properly, it
becomes difficult to run the business successfully.

Globalization of markets and rapid changes in technology are the hallmark of today’s business environment.
The resulting competition and interdependence of economies will continue to increase over the years, leading to
changes in business organizational structure, and economic conditions. These changes throw up new challenges
and opportunities for business. To face these challenges and to benefit from the opportunities, managers need to
understand, assess and forecast the business environment. Based upon such assessment and forecasts,
appropriate business strategies can be formulated, which would give them long run-competitive advantage. In
the Indian context, this requires a very good understanding of the Indian and global business environment,
which the course on Business Environmentwould provide.

This course examines the social-cultural, technological, political, legal and economic environment within which
Indian and International business organisation functions. This course provides comprehensive coverage of
topics that are central to the local and international business environment. Each lecture is presented with a
balance of theory and practice aimed to develop the student’s ability to understand and analyze the external
business environment, affecting the local and global business organisations.

Course Objectives
 To familiarize students with various aspects of global business environment.
 To familiarize students with influence of key external business environment on the activities of local and
global business organisations.
 To expose students to recent changes in the economic and non-economic environment, particularly in the
Indian and global context, and to illustrate them with the help of case studies.
Learning Outcomes:
Based on the course, students should be able to:
1. Demonstrate competence in analyzing the nature and structure of global business environment using
various tools such as PESTEL.
2. Have good understanding of various aspects of Indian and global economy and its relation to business.
3. Analyse different policy measures taken by the Government and understand its implications for
business.

Pedagogy:Lecture, classroom discussion, presentation, and assignments.

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 Sl no. Component Weight (%) Learning Outcomes
I Internal Assessment 50
a) Group Project Presentation 20 1, 2, 3
b) Class participation 10 1, 2, 3
c) Quiz 20 1, 2
II End term and AOL assessment 50 1, 2, 3
Evaluation

AOL
1. Develop competencies to lead teams in complex and uncertain business environments
2. Orientation for ethical and sustainable business practices

Readings

Readings

Business Environment - Indian and Global Perspectives, by Ahmed Faisal and

Alam 3rd edition

Text Book:
 Other References: Books

 David P. Baron, Business and Its Environment(7th Edition)

 Rajan and Lamba Breaking the mould, Prnguin , 2023
 Business environment- Text and Cases by M.B. Shukla, Taxman Publications, 2012.

 Agarwal, A.N: Indian economy: Problems of Development and Planning, (New Delhi: Wishwa,
2016).
 Panagaria A. India : the emerging giant, Oxford University Press
 CMIE Reports, various issues.
 Economic Survey, Latest issues
 India Development Report, latest issue
 World Development Report, Various Latest Issues.

b) Journals & Magazines:

 Economic & Political Weekly

 Asia Week
 Economist
 Business Today

c) Newspapers Articles (To be distributed in the class for analysis).

Session /Topic

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 Topics Notes
Session 1 and 2 : Introduction Chapter 1 & 2: Text book
Structure of Business Environment
Baran
- Dimensions
- Market
- Non-Market

Session 3: Political & Legal Environment Text book

Session 4: Global political and economic Environment

Chapter 5: Text book

Session 5,6 ,7
The Economy of India: Institutions,
Markets & Policy
- Institutions: Brief History of economic policy
and development, Economic planning era.
- Market Reforms of 1990s
)
Session 8, 9 Text book, Rajan
- Major problems of Indian economy: Growth
challenges, Poverty, Unemployment, Inflation,
Role of business.

Session 10, 11: India’s Fiscal Policy Paradigms Text Book and class
- Trends
materials
- Deficit management
- Tax reforms
- Implications for Business-interest rate, Impact
on exchange rate. Strategy of business.

Text book and class

Section 12, 13
materials
India’s Monetary Policy Paradigms and banking
- Role of RBI
- Monetary policy objectives
- Instruments
Implications for Business
Session 14, 15 Text book
India’s external environment, Export, import and Rajan
foreign investment

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Sessions 16, 17 Class materials
Impact of recent events on Indian Business
Environment

- Global war
- International politics and emergence of
military rivalry at the global level
- Technological changes: emergence of platform
economy, chip war, energy sector issues.
- Future of dollar as unique globally acceptable
currency
-
Session 18: Group Presentation
Session 19: Group Presentation

Session 20: Revisions and discussions

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