Business Environment

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National Institute of Business Management

Chennai - 020

THIRD SEMESTER MBA

Subject : Business Environment

Attend any 4 questions.  Each question carries 25 marks

(Each answer should be of minimum 2 pages / of 300 words)

1.What are the three objectives of Business? Explain.

Answer : Your business objectives are the results you hope to achieve and maintain as you run and grow your business. As an entrepreneur, you are concerned with every aspect of your business and need to have clear goals in mind for your company. Having a comprehensive list of business objectives creates the guidelines that become the foundation for your business planning.

There are not only three but more than three objectives of business which are discussed below :

Profitability

Maintaining profitability means making sure

2.Explain the philosophy of system dynamics modeling of Organizational Structure.

Answer :

3.Do social obligations conflict with profit objective in business?

Answer : Business ethics are moral principles that guide the way a business behaves. The same principles that determine an individual”s actions also apply to business.

Acting in an ethical way involves distinguishing between “right” and “wrong” and then making the “right” choice. It is relatively easy to identify unethical business practices. For example, companies should not use child labour. They should not unlawfully use copyrighted materials and processes. They should not engage in bribery.

However, it is not always easy to create similar hard-and-fast definitions of good ethical practice. A company must make a competitive

4.Describe the impact of internal and external environments prevalent in business organization in India and how this will affect the organizational structure in this country.

Answer :

5.There is a close relationship between a business firm and its surrounding environment. Explain the key factors of environment.

Answer : The marketing environment surrounds and impacts upon the organization. There are three key elements to the marketing environment which are the internal environment, the microenvironment and the macroenvironment. Why are they important? Well marketers build both internal and external relationships. Marketers aim to deliver value to satisfied customers, so we need to assess and evaluate our internal

6.What are the characteristics and basic principles of objectives of a business?

Answer : Decide In Advance What You Want

The most important military principle is the Principle of the Objective. This principle requires that you decide in advance exactly what it is that you are trying to accomplish. What exactly is your objective? In my experience, fully 80% of all problems in personal and corporate life come from a lack of clarity with regard to objectives and goals.

Clarity Is Critical

Clarity of objective precedes all other elements in strategic thinking. Here are some questions that you can use over and over again to focus and clarify your objectives. The first question is, "What am I trying to do?" The second question is, "How am I trying to do it?" The third question is, "What are my assumptions?" And the fourth question is, "

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25 x 4=100 marks