Business environment / A. C. Fernando.

Format:

Book

Author/Creator:

Fernando, A. C.

Language:

English

Subjects (All):

Business.

Economics.

Business enterprises.

Physical Description:

1 online resource (1 v.) : ill.

Edition:

1st edition

Place of Publication:

Chennai, India : Pearson, 2011.

System Details:

text file

Summary:

Managers need to need to keep abreast of the latest economic developments in countries around the world, and use this information to analyse and correlate with the economic environment in which businesses function to be able to make informed decisions that will enable the organization to progress despite obstacles. A course in business environment fosters this ability and in Business Environment A. C. Fernando integrates concepts with real-world situations and the most recent data to help students grasp complex economic concepts, a clear understanding of which is required to comprehend the various facets of business environment. He adopts a jargon-free style and presents the subject matter logically, from elementary to complex concepts to engage the student completely. Divided into eight parts comprising fifty chapters, the book has been designed to be of particular use to students who are not familiar with the concepts of economics.

Contents:

Cover

About the Author

Contents

Preface

Part I: Fundamental Concepts

Chapter 1: The Functioning of an Economy: Basic Concepts

What is an Economy?

Economic Activity

Wants: The Basis of All Economic Activities

Circular Flow of Economic Activity

Real Flows

Money Flows

Production

Definition

Consumers' Goods and Producers' Goods

Utility

Goods

Free Goods and Economic Goods

Consumption Goods and Capital Goods

Value

Wealth

Classes

Wealth and Welfare

Consumption

Human Wants

Formation

Categories

Characteristics

Standard of Living

Factors Affecting the Standard of Living

The Standard of Living in India

Engel'S Law of Family Expenditure

Scales of Preferences

Savings and Investment

Summary

Notes

Key Words

Discussion Questions

Suggested Readings

Chapter 2: National Income

Definitions

Marshall's Production-Based Definition

Pigou's Income-Based Definition

Fisher's Consumption-Based Definition

Concepts in National-Income Analysis

Gross National Product

Net National Product

National Income At Factor Cost

Personal Income

Personal Disposable Income

Per Capita Income

Measurement of National Income

The Product Method

The Income-Received Method

The Consumption-Savings Method

A Comparison of the Three Methods

The Sectoral Composition of National Income

Estimates of the National Income of India

Post-Independence Background

Special Features of the 1980-81 Series

RBI's Role in National Income Accounting

Advance Estimates and Quick Estimates of National Income

Difficulties in the Measurement of National Income

National Income Data and the Changing Profile of the Indian Economy

Characteristics of the Indian Economy

The National Statistical Commission.

Limitations of National Income Estimation in India

Determinants of the Size of a Country's National Income

Reasons for India's Low National Income

Economic Causes

Political Causes

Social Causes

Remedies

National Income and Economic Welfare

Inequalities of National Income Distribution

Causes

Effects

Capital Formation and Inequalities of Income

Steps Taken by Governments to Reduce Inequalities

Uses of National Income Data

Chapter 3: Business and Its Environment

Business: Meaning, Characteristics and Objectives

Divisions of Business

Characteristics of Modern Businesses

Large Size

Global Reach

Oligopolistic Structure

Based on Technology

Diverse

Government Control

Emerging Ethical Consciousness

Business Environment

The Internal Environment

The External Environment

The Economic Environment

Economic Systems

Structural Equilibrium

Banking and Monetary Policy

Fiscal Policy

Economic and Price Stability

Money and Capital Market

Factor Endowments

Size of the Market

Social Overhead Capital

Income Distribution and Purchasing Power

External Trade/International Environment

The Non-Economic Environment

The Socio-Cultural Environment

The Educational Environment

The Politico-Legal Environment

The Demographic Environment

Chapter 4: Natural Resources

Introduction

Land Resources

Irrigation

Power

Eco-Efficiency Strategy of Power Grid

Hydropower and Sustainable Development

Forest Resources

Forest and Wildlife Conservation

Forest Cover

Fresh Water Resources

Minerals

Coal Mining

Iron Ore

Manganese Ore

Bauxite

Copper, Lead and Zinc.

Sea Wealth

Chapter 5: The Technological Environment

What is Technology?

Technology and Development

The Contribution of Technology

Managing Technology for Development

Integrating Technology with Business

Technology in Developing Countries

Technology Acquisition and Protection

Technology Transfer

The Need for Technology Transfer

Forms of Technology Transfer

Innovations

Varying Research and Development Budgets

Technical Cooperation and India's Capabilities

India and the Global Knowledge Market

Chapter 6: Human Resource Development

Evolution

What is Human Resource Development?

Human Capital

Human Resource Development in India

Functions

Human Development Index

Chapter 7: India's Population and Its Impact on the Economy

The Economic Effects of a Growing Population

The Economic Effects of a Declining Population

Factors Responsible for Changes in the Size of Population

Birth Rate

Death Rate

Theories of Population

The Malthusian Theory of Population

The Optimum Theory of Population

The Theory of Demographic Transition

Excessive Population as an Obstruction to Growth

Features of the Indian Population

India's Population Policy

The Population Policy, 1976

Progress Under the Policy

The National Population Policy, 2000

Trends in Population and Family Welfare Programme

The Scorecard

Chapter 8: Capital Formation, Savings and Investment

What Comprises Capital?

Capital Formation

Growth in Capital Formation.

Sources of Capital Formation

Capital Formation in India

Capital Accumulation

Factors Affecting Capital Accumulation

Capital Accumulation in Developing Countries

Savings

Sources of Savings

Domestic Savings in India (1951-2008)

Investment

Rate of Investment and Capital Formation

Reasons for the Low Level of Investment in India

Investment Commission

Part II: Economic Systems and Policies Relating to Business

Chapter 9: Economic System and Capitalism

What is an Economic System?

Capitalism

Private Property

Consumer Sovereignty

Freedom of Enterprise

Enlightened Self-Interest

Profit Motive

Competition

Existence of Markets and Prices

Absence of a Central Plan

Limited Government

Active Entrepreneurship

Class Conflict

Use of Advanced Technology

Specialization Based on Division of Labour

Extensive Use of Money

Merits

Automatic Functioning

Greater Efficiency and Incentive for Hard Work

Higher Rate of Capital Formation and Growth

Economic Development and Prosperity

Optimum Utilization of Resources

A Just System of Reward and Penalty

Democratic System

Adaptability

Encouragement to Enterprise and Risk Taking

Demerits

Excessively Materialistic

Not as Productive as Other Economic Systems

Gives Rise to Class Conflict

Social Injustice and Economic Inequality

Ignores Human Welfare

Periodic Economic Instability and Unemployment

Precedence of Property Rights Over Human Rights

Emergence of Monopolies

Misallocation of Resources

Malpractices

Chapter 10: Socialism

What is Socialism?

Features

Key Words.

Discussion Questions

Chapter 11: Mixed Economy

Mixed Economy and Its Types

Features of the Indian Mixed Economy

Coexistence of Private and Public Sectors

Nationalization of Basic Industries

Reduction of Inequalities of Income

Provision of Social Welfare Measures

Promotion of Economic Development Through Planned Efforts

Resource Allocation Through the Price System and Government Directions

Government Control and Regulation of the Private Sector

Consumer Sovereignty is Protected, but Government Controls Production, Consumption and Distribution

Government is Committed to the Promotion of Public Welfare and Protection of Labour, the Poor and the Marginalized

Control of Monopoly

Prices are Determined by Market Forces, but Products of Public Sector are Governed by Administered Prices

Advantages of India's Mixed Economy

Achievement of Faster Economic Growth

Best Allocation of Resources

Balance Between the Private and Public Sectors

The Establishment of a Welfare State

Heavy Capital Investment Through Planned Effort

Disadvantages

Undue Emphasis on the Growth of Public Sector

Inefficiency of Both the Sectors

Ineffective Control of the Private Sector

Economic Fluctuations

Failure to Solve Demographic and Unemployment Problems and Inflation

Extensive and Corrupt Bureaucracy

Conclusion

Chapter 12: The Role of Public Policies in Governing Business

Public Policy: A Definition

Classification

Levels

Elements

Public Policies and the Government

Limitations of Governments in Executing Public Policy

Need for Public Policies in Business

The Involvement of Business in Public Policy Decision Making

Business and Politics: Levels of Involvement.

National Economic Growth.

Notes:

Description based on online resource; title from title page (viewed June 24, 2013).

ISBN:

9789332500969

9332500967

OCLC:

852522527