Business Environment

4921 words 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 system. It is the
…show more content…
They include: middleman, physical distribution firm, marketing services agencies, financial institution etc. The company should build strong relationship with these marketing intermediaries in order to run the business successfully.
4. Customers: The company must study its customer closely because they are the king and they are the main focal point of every business activity. There are different types of customers. They are: customer market, industrial market, reseller market. Each market type has unique characteristics that call for careful study by the business man.
5. Competitors: To be successful a company must satisfy the needs and wants of consumers better than its competitors. So the marketers should carefully evaluate the strategies and policies of its competitors.
6. Public: A public is any group that has an actual and potential interest in or impact on an organizations ability to achieve its objectives. Every company is surrounded by several types of public e.g. financial publics, media publics, citizen – action publics, local publics, general publics etc. The company would have to design an offer to this public attractive enough to produce the desire response.

The Macro Environment

Macro environment refers to all the larger social forces that effect the company's micro environment. These factors are uncontrollable and thus, it must carefully watch and respond to these forces. The macro environment consists of the following major factors:

1.

Related

  • The Power of Social Media and Its Impact on the Current Business Environment
    1529 words | 7 pages
  • Legal Environments of Business
    1215 words | 5 pages
  • P5: Explain the Characteristics of the Local Business Environment
    1268 words | 6 pages
  • Assignment 2 Challenges in the Global Business Environment
    2237 words | 9 pages
  • Relevance of Classical Management Theories in Modern Business Environment
    3194 words | 13 pages
  • Domino's Pizza Business Environment
    3827 words | 16 pages
  • Global Business Environment - Case Study: Carrefour
    5543 words | 23 pages
  • Industry Environment Business Strategy Gap Analysis
    6382 words | 26 pages
  • Communication Process and Challenges in Global Business Environment
    1752 words | 8 pages
  • Evaluate and Improve Own Performance in a Business Environment
    2789 words | 12 pages