Business Environment

4926 Words Dec 12th, 2007 20 Pages
Department of Marketing

Dhaka University

Course Name: Business Environment

Preface

The objective of this course is to provide requisite knowledge for successful business manager. To develop the understanding of the cultural, demographic, social, economical, political, technological and legal environment within which the business operates. Provide knowledge on how to adapt with the changing environmental situation. It also discusses the issues related to the relationship between business and society. The question is how much we have learnt from this course? Let us find out the answer to this question.

Global Environment

The global environment or total environment is an enormously complicated, dynamic and changing
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Therefore it is not unrealistic to state that a good job of business is a good job of adapting to the total environment, each and every part of it.

The Business Environment

Business environment consists of the forces that effect business manager's ability to develop and maintain successful transactions with its target customers. The changing and uncertain business environment certainly affects the company's activity, and at the same time, the ability to earn profit. Thus a business should carefully watch the changing situation of the environment. The business environment can be divided into two parts. 1. The Micro Environment
2. The Macro Environment

The Micro Environment

The micro environment consists of the forces close to the company and to some extent these factors are controllable. These factors include:

1. The company
2. Suppliers
3. Marketing Intermediaries
4. Customers
5. competitors
6. Publics.

1. The company: There are various specialized departments i.e. purchasing, manufacturing, financing, marketing, research and development etc. All these interrelated activities formed company's own environment and thus have an impact on company's plans and actions. These departments should work together to provide superior customer value and satisfaction.
2. Suppliers: Suppliers provide the resources needed by the company to produce goods and services. Businessmen must carefully watch the
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