MGT 518: Business Environment

 

MGT 518: Business Environment

Credits: 3

Lecture Hours: 48

Course Objectives

The course aims to provide the students with the knowledge of different facets of external business environment that are necessary for the survival of a business firm in the contemporary business world. It also aims to develop capacity and skills in the students of analyzing, synthesizing and evaluating these facets and applying them in the formulation of business and strategies. This course examines the relationship between business organizations and their functional areas.

Course Description

The main topics covered in the course are: the business-environment interaction, analysis of the economic, political, social, cultural, legal, and technological environments and their effects on international business; trade policy instruments and implications for business; economic policies and reforms, corporate social responsibility; globalization and regional economic integration, multinational  corporations; major drivers behind, and barriers to, foreign direct investment; impact of international institutions and organizations like WTO on Nepalese business. The purpose is to develop a solid understanding of the external, economy-wide factors that affect the performance and management of Nepalese business firms.

Course Details

Unit 1: Introduction                                                                        LH 3

Concept, relationship between business system and its environment, Importance and components of business environment, Process and techniques of environmental analysis, Business environment analysis for strategic management, Recent trends and emerging business environment in Nepal.

Unit 2: Economic Environment                                                  LH 16

An overview of the Nepalese economy: Economic structure and dimensions; Economic indices - National income; Rate and growth of GNP, per capita; Poverty situation; Distribution of income; Nepal's foreign trade - structure and related issues; Labour market issues; Foreign employment - trends and issues.

Economic planning: An overview of five year /three year plans of Nepal; Current Plan - its objectives, targets and strategies applicable to business and industrial sectors; Millennium Development Goals – parameters and progress in Nepal. Nepalese economic policies and reforms: Industrial Policy- concept and objectives; Trade Policy - concept and objectives; Tourism Policy - objectives and characteristics; Current monetary policy; Economic policy reforms; Agriculture and industrial sectors: Features and issues in Nepalese agricultural sector; Nepal's industrial sector – structure, performance and constraints.

Unit 3: Political Environment                                                      LH4

Political system, its nature and significance for business; Political structure; Political parties, Government’s role in business; Political stability issue; Impact of political environment on Nepalese business structure. Interrelationships between politics, government and business.

Unit 4: Regulatory Environment                                                LH 7

Constitutional framework; Directive principles; Fundamental rights; Main features and provisions of business related legislation and policies in Nepal. Business legislation in Nepal - Companies Act, 2006; Finance and investment legislation - Foreign Investment and Technology Transfer Act, 1992; Income Tax Act, 2002; Industrial Enterprise Act, 1992; Securities Act, 2063; Labor Act, 1992; Trade Union Act, 1992; Mines and Minerals Act, 1985; Patent Design and Trade Mark Act, 1965; Copyright Act, 2002; Foreign employment Act,2007.

Unit 5: Socio-Cultural Environment                                         LH 4

Concept and components of socio-cultural environment; Impact of socio-cultural environment to business, Analysis of components of Nepalese socio-cultural environment: attitudes, values and beliefs, religion, language, education, social institutions, class structure and business culture. Emerging socio-cultural changes in Nepal.

Unit 6: Social Responsibility of Business                                LH 3

Social responsibility of business: Concept, approaches and areas. Corporate accountability, Social audit: Concept, models and procedures, consumerism.

Unit 7: Global Environment                                                         LH 7

Globalization - concepts and forms; Regional economic integration; A brief overview of the regional economic groupings such as NAFTA, APEC, ASEAN, SAARC, SAFTA and BIMSTEC; Economic reforms in South Asia; World Trade Organization (WTO) – Objectives, structure, principles, agreements and most favoured nation treatment; Benefits of the WTO trading system; Nepal's membership and commitments - opportunities and threats for Nepalese business, Recent trends and development in global environment.

Unit 8: Environment, Energy and Technology                      LH 4

Environment and energy management: Natural environment and pollution issues; Environment protection legislation and programs; Demand and supply of energy; Environment and energy management issues. Science and Technology Policy; IT Policy; Electronic Transactions Act, 2007; Status of technology in Nepalese businesses; Technology and human factors; Issues related to management of technology.

References

  • Pant, Prem R. Business Environment in Nepal. Buddha Academic Publishers and Distributors, Kathmandu.
  • Agrawal, G. R. Dynamics of Nepalese Business Environment. M. K. Publishers, Kathmandu.
  • Aswathappa, K. Business Environment for Strategic Management, Himalaya Publishing House, Bombay.
  • Cherunilam, F. Business Environment. Himalaya Publishing House, Bombay.
  • Relevant laws, literature and cases

Comments

Post a Comment

Popular posts from this blog

Managerial Communication Q&A - Chapter 1 - Q2

List any five goals of business communication. Identify the most important one and explain why it has this distinction. Ans: Five goals of business communication are: Conveying Information: Business communication aims to transfer accurate and relevant information to employees, stakeholders, customers, and partners. This includes instructions, updates, reports, and data that are essential for informed decision-making. Building Relationships: Effective communication helps establish and nurture relationships with clients, customers, partners, and colleagues. Relationship-building communication includes networking, negotiation, and maintaining regular interactions. Influencing Decision-Making: Business communication seeks to persuade and influence others' decisions. This can involve presenting ideas, proposals, and recommendations in a convincing manner to gain approval or support. Resolving Conflicts: Communication plays a vital role in resolving disputes and conflicts among team memb...
Read more

MSC 516: Production and Operations Management

  MSC 516: Production and Operations Management Credits: 3 Lecture Hours: 48 Course Objectives This course aims to impart knowledge and skills of production and operations management to students so that they can relate the theoretical aspects with real world operations. Course Description The course contains basic concepts and introduction, production planning and scheduling, materials management, managing for quality and optimization techniques Course details: Unit1: Basic Concepts and Introduction                                               LH 6 Concept, Transformation model, manufacturing versus Service operations, Historical Development of Operations Management, Types of production system, operations strategy, global view of operations, achieving competitive advantage though operations, concept and types of Productivity Unit 2: Production plan...
Read more

Managerial Communication Q&A - Chapter 3 - Q1

Q. Define culture, explain how culture is learned, and define ethnocentric and stereotyping. Answer: Culture: Culture refers to the shared beliefs, values, behaviors, traditions, customs, and practices that characterize a group of people or a society. It encompasses the way people think, communicate, interact, and perceive the world around them. Culture is learned and transmitted from one generation to the next, shaping individuals' identities, behaviors, and perspectives. How Culture is Learned: Culture is primarily learned through a process of socialization, which occurs within families, communities, educational institutions, and broader societal contexts. Here are some key ways culture is learned: Observation: Individuals learn cultural norms by observing the behaviors, interactions, and rituals of others in their social environment. Communication: Language, symbols, and communication patterns play a crucial role in transmitting cultural values, beliefs, and knowledge. Imitation...
Read more