Business Environment
Telangana Open School (TOSS) · Class 12 · Business Studies
Complete topic list for Business Environment in Telangana Open School (TOSS) Class 12 Business Studies. Key concepts, sub-topics, and what to focus on for board exams.
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Topics in Business Environment
Meaning and Features of Business Environment
- Business environment refers to all external forces that affect a business’s functioning.
- It includes customers, competitors, suppliers, government, and social, political, economic, legal, and technological factors.
- The environment can have both direct (micro) and indirect (macro) impacts on business.
Importance of Business Environment
- Helps identify opportunities and threats in the market.
- Guides business growth by opening new areas for expansion.
- Encourages continuous learning and innovation among managers.
Types of Business Environment
- Divided into Economic and Non-Economic environments.
- Economic environment includes economic conditions, policies, and systems.
- Non-economic environment includes social, political, legal, technological, demographic, and natural factors.
Recent Developments in Indian Economy
- Liberalisation: Removal of government controls like licensing and price controls.
- Privatisation: Reducing public sector role and encouraging private ownership through disinvestment.
- Globalisation: Integrating Indian economy with the world through trade, investment, and technology.
Key Concepts
Central concept: Business Environment
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