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Khushi Be Assignment

The document is a business assignment submitted by a student named Khusi discussing various aspects of the business environment in India in 2023. It covers [1] the concept of business environment, [2] emerging trends in India's business environment this year including economic growth, digitalization, and startups, and [3] external factors like PESTLE analysis affecting businesses in India. It also discusses stakeholder expectations and advantages and disadvantages of doing business in India.

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Khushi Dash
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49 views9 pages

Khushi Be Assignment

The document is a business assignment submitted by a student named Khusi discussing various aspects of the business environment in India in 2023. It covers [1] the concept of business environment, [2] emerging trends in India's business environment this year including economic growth, digitalization, and startups, and [3] external factors like PESTLE analysis affecting businesses in India. It also discusses stakeholder expectations and advantages and disadvantages of doing business in India.

Uploaded by

Khushi Dash
Copyright
© © All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
Available Formats
Download as DOCX, PDF, TXT or read online on Scribd
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SIKSHA O ANUSANDHAN UNIVERSITY

BUSINESS ENVIRONMENT ASSIGNMENT

Name – Khusi

Registration Number - 2241303041

Batch – BBA Honours

Topic - Business Environment scenario in


India 2023

Year and Semester – 2ND YEAR , 3RD


SEMESTER

Submitted To – Ms Anshita Bihari

ALL ABOUT THE CONCEPT OF BUSINESS


ENVIRONMENT.
The totality of internal and external elements that
have an impact on an organization's environment,
operations, and activities is called the business
environment.

Or we can say, that the business environment is


described as the addition of all internal elements,
such as organizational structure, mission, and goals,
workers, corporate image, and brand equity, and
external factors, such as clients, rivals, suppliers,
market trends, financiers, etc. The business
environment is determined by both internal and
external factors.
CURRENT EMERGING SCENARIO OF THE
BUSINESS ENVIRONMENT IN 2023 THIS
YEAR
India's business surroundings today is extremely dynamic and
changing quickly. The business environment has been
significantly impacted by the country's recent dramatic
economic and social transformations.

The nation's economy is growing rapidly and this development


is one of the key factors influencing the business climate in
India. Numerous reasons, such as robust domestic demand,
favorable demographics, and an encouraging governmental
environment, have contributed to this expansion.

The expanding accessibility of the economy is another


significant development in the Indian economic landscape. This
has supported the expansion of several industries, like
manufacturing, services, and technology, as well as attracted an
increasing number of foreign enterprises to the nation.

In addition to that startup culture , ease of doing business and


digitalization of business are also some of the emerging trends
happening in 2023

In a nutshell the business climate in modern India is extremely


dynamic and changing quickly. Strong economic development,
access to foreign capital, a young population, and an increasing
emphasis on environmental sustainability and social
accountability are all factors that are influencing the business
environment and opening up new opportunities for companies
of all sizes.
EXTERNAL FACTORS OR THE PESTLE
ANALYSIS AFFECTING BUSINESS IN INDIA

Macroenvironmental factors, sometimes referred to as PESTEL


elements or external factors, have a significant impact on a
company's operations, strategy, and overall performance. These
elements frequently aren't under a business's control, yet they
may have a big influence on how well it performs.

An organization's primary external influences—political,


economic, sociological, technological, legal, and environmental
—are examined through a PESTLE study. It may be applied in a
variety of situations and aid senior managers and human
resource experts in making strategic decisions.

It is a thorough process of gathering information about the


outside influences that could have an impact on an
organization's choices, enabling it to maximize opportunities
and reduce dangers. It examines six outside factors that affect an
organization:

Political factors include taxation, environmental legislation,


trade reform, tariffs, and political stability.

Economic: Economic growth and decrease, currency rates,


inflation and pay rates, minimum wage, working hours, local
and national unemployment, credit availability, and cost of
living

Sociological factors include cultural norms and expectations,


population growth rates, health awareness, age distribution,
attitudes toward careers, and health and safety. Basically it also
includes CSR .
Technological: The rate of change itself is accelerating, and new
technologies are constantly developing (for instance, in the
domains of the robotics and artificial intelligence). What impact
will this have on the company's goods and services? That’s what
it answers!

Legal: Modifications to laws that affect taxation, imports,


exports, quotas, resources, and employment

Environmental: Supply chain intelligence; ethical sourcing (both


locally and nationally); global warming; the growing need to
transition to sustainable resources. a pandemic and other urgent
situations.

Organizations may analyze any risks unique to their sector and


organization by analyzing those aspects and making educated
decisions. Additionally, it might draw attention to the
possibility for increased expenses and encourage future planning
to incorporate more research.

STAKEHOLDERS EXPECTATION
Stakeholder expectations are the goals, requirements, and aspirations
that various organizations, projects, or initiatives have from groups or
individuals. Stakeholders are people, organizations, or other entities
who are interested in or have a "stake" in the actions and results of the
organization. It's essential for businesses and projects to achieve
success and sustainability to meet or manage stakeholder
expectations.

Effective communication, moral conduct, participation in the


company's CSR efforts, and flexibility in response to shifting
priorities are frequently required to meet stakeholder expectations. To
successfully comprehend and respond to changing expectations, firms
must emphasize stakeholder management and participate in ongoing
communication. Long-term sustainability and success are more
common in organizations that are capable of balancing the interests of
all of its stakeholders.

ADVANTAGES OF DOING BUSINESS IN


INDIA

• It has a very vast consumer base with a population of more than 1.4
billion people, making it a very appealing nation for entrepreneurs to
invest in or to start any enterprises.

• India's GDP has been expanding at a very excellent pace during the past
ten years, showing a healthy trend of economic growth.

• India's rich culture and natural beauty contribute greatly to the country's
tourism and hospitality industries;

•an intelligent and inexpensive labor workforce that is readily available in


India.

•IT and Technology Hub: India is a global leader in information


technology and software services. Cities like Bangalore and Hyderabad
are renowned for their technology and software development capabilities,
making them attractive for tech-oriented businesses.

•Entrepreneurial Culture: India has a vibrant entrepreneurial culture, with


many startups and innovation hubs. The government has also launched
initiatives like "Make in India" and "Startup India" to promote
entrepreneurship.

•Investment-Friendly Policies: Over the years, India has introduced


reforms and policies aimed at attracting foreign direct investment (FDI).
These include simplifying regulations, liberalizing FDI rules, and
establishing special economic zones.
Infrastructure Development:

DISADVANTAGES OF DOING BUSINESS IN


INDIA

Although India has made development in many


areas, it has lagged behind other, more developed
nations. Running a business in India has
advantages as well as downsides because
everything has two sides, both good and bad.
Some drawbacks include:

• Indian laws and regulations must be adhered to


in India.
Success in earning credit.
• Adopted strict tariff and protectionist measures.
• A lack of managerial abilities.
• The market is fragmented.
• When starting a business, the infrastructure can
occasionally be very problematic.
THANK YOU

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