MS-03: Economic and Social Environment

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Management Programme

ASSIGNMENT

SECOND SEMESTER

2015

MS-03: Economic and Social Environment

ASSIGNMENT

Course Code	: MS-03
Assignment Code	: MS-03/TMA/SEM-II/2015
Course Title	: Economic and Social Environment
Coverage	: All Blocks

Note: Attempt all the questions and submit this assignment on or before 31st October, 2015 to the coordinator of your study centre.

1. A thorough understanding of economic and social environment of business is essential for running enterprises successfully. Briefly discuss the statement citing examples.

Answer: Understanding the environment within which the business has to operate is very importantfor running a business unit successfully at any place. Because, the environmental factors influence almost every aspect of business, be it its nature, its location, the prices of products, the distribution system, or the personnel policies. Hence it is important to learn about the various components of the business environment, which consists of the economic aspect, the socio-cultural aspects, the political framework, the legal aspects and the technological aspects etc.

As stated earlier, the success of every business depends on adapting itself to the environment within which it functions. For example, when there is a change in the government polices, the business haste make the necessary changes to adapt itself

2. What are the different viewpoints about the role of Government? Analyse the role of Government in today’s world.

Answer: By definition, government is force. Behind every government policy is a gun to the heads of citizens saying, “You will do this, or else…”

Therefore, anything other than the philosophy that the proper role of government is to protect unalienable rights always has and always will lead to tyranny.

The more government tries to “help” society, the more tyrannical it becomes. Since the government does not produce, it can only take what others has

3. Discuss the role and importance of Small Scale Industry (SSI) in a developing economy in the present context.

Answer: The case for the development of small-scale industries is particularly strong in under-developed but developing countries like India.

These small-scale industries satisfy many of the investment criteria that one often prescribes for the planned development of the country.

Labour-intensive:

4. Briefly analyse the impact of regulatory and promotional policy framework on industrial structure and performance.

Answer: The objective of this assessment is to identify the strengths and weaknesses of the policy, legal, and regulatory framework, comparing it against existing benchmarks of good practice. The criteria provided in this guide should be used with flexibility to accommodate specific national concerns and circumstances. In some cases, previous studies may have provided detailed assessments on certain policy areas, and it is

5. Collect data on Foreign Direct Investment (FDI) for the past decade and analyse its implications.

Answer:  Definition

Foreign direct investment (FDI) plays an extraordinary and growing role in global business. It can provide a firm with new markets and marketing channels, cheaper production facilities, access to new technology, products, skills and financing. For a host country or the foreign firm which receives the investment, it can provide a source of new technologies, capital, processes, products, organizational technologies and management skills,

6. Highlight the basic concept, of the theory of public finance and explain how do they help in understanding the fiscal system of an economy.

Answer: The concept of public finance deals with the budgeting techniques of the income and expenditures of a public sector organization, normally government or federal organization. Public finance is also termed as government finance and it is an important sector of finance and economics.

The concept of public finance focuses on the following factors:

Tax incidence (the party which is actually paying a

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