Exam

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you) and also some topics are taken from another websites than the original because of not similarity.
Title: Business Environment
Code: MGT 470
Final Exam
Sources or Classification of law
1. Criminal law:
It is created for the perfections of the society as a whole and to maintain law and order. Provides
punishment who breaks the law.
 laws are enacted by a legislature.

 Criminal law includes the punishment and rehabilitation.
 Criminal law varies according to jurisdiction, and differs from civil law.
 For punishment it requires evidences of crimes.
2. Civil law: ( Settle disputes between ondividuals, companies, corporations)
3. Treaty Law:
Laws made by a regional or world grouping by becoming a signatory to a treaty
 Disputes between States are brought before international courts by means of treaties.
Constitutional law
Constitutional law refers to rights carved out in the federal and state constitutions.
Judicial decision
The judicial decision serves a primary role in the Anglo-American legal system.
Prepared by Fatima Khuku Mony Also you can add extra topics
Technological environment
It includes factors in technology that impact business operations. Changes in technology affect
how a company will do business. A business may have to dramatically change their operating
strategy as a result of changes in the technological environment.
 Technological Change
Technological change is improvement in the 'art' of making products or developing processes.

Barney's biggest threat is new technological products and processes that are destroying the
traditional print industry. A technological product is just something that man created using the
application of knowledge to improve a person's life, environment or society.
In Barney's case, the new technological products wreaking havoc with his business are e-readers
and computer tablets. Every year, more and more consumers are ditching the printed word for
digital.
What is socio-cultural environment?
socio-cultural environment. A set of beliefs, customs, practices and behavior that exists within a
population.
 Understanding How Culture Impacts Local Business Practices

Professionals err when thinking that, in today’s shrinking world, cultural differences are no longer
significant. It’s a common mistake to assume that people think alike just because they dress alike;
it’s also a mistake to assume that people think alike just because they are similar in their word
choices in a business setting. Even in today’s global world, there are wide cultural differences, and
these differences influence how people do business. Culture impacts many things in business,
including
1) The pace of business;

2) Business protocol—how to physically and verbally meet and interact;
3) Decision making and negotiating;
4) Managing employees and projects;
5) Propensity for risk taking; and
6) Marketing, sales, and distribution.
Dominant Values
Dominant values and beliefs are those that are widely shared among a community. It forms
throughout the course of life and may change over time.
 Sources
Family, peers, workplace, educational institutions, significant life events, religion, media and
culture.
Business culture
Model or style of business operations within a company.
Business culture determines how different levels of staff communicate with one another as well as
how employees deal with clients and customers.
Sex ratio
The sex ratio is the ratio of males to females in a population. The ratio tends to be close 1:1.
Ethnic group
A community or population made up of people who share a common cultural background.
Importances:
An ethnic group or an ethnicity, is a category of people who identify with each other based on
similarities such as common ancestry, language, history, society, culture or nation.[1][2] Ethnicity is
usually an inherited status based on the society in which one lives. Membership of an ethnic group
tends to be defined by a shared cultural heritage, ancestry, origin
myth, history, homeland, language or dialect, symbolic systems such
as religion, mythology and ritual, cuisine, dressing style, art or physical appearance.
Ethnic groups, derived from the same historical founder population, often continue to speak related
languages and share a similar gene pool. By way of language
shift, acculturation, adoption and religious conversion, it is sometimes possible for individuals or
groups to leave one ethnic group and become part of another (except for ethnic groups
emphasizing homogeneity or racial purity as a key membership criterion).
Ethnicity is often used synonymously with terms such as nation or people. In English, it can also
have the connotation of something exotic (cf. "ethnic restaurant", etc.), generally related to cultures
of more recent immigrants, who arrived after the dominant population of an area was established.
The largest ethnic groups in modern times comprise hundreds of millions of individuals (Han
Chinese being the largest), while the smallest are limited to a few dozen individuals
(numerous indigenous peoples worldwide). Larger ethnic groups may be subdivided into smaller
sub-groups known variously as tribes or clans, which over time may become separate ethnic groups
themselves due to endogamy or physical isolation from the parent group. Conversely, formerly
separate ethnicities can merge to form a pan-ethnicity, and may eventually merge into one single
ethnicity. Whether through division or amalgamation, the formation of a separate ethnic identity is
referred to as ethnogenesis.
 Ethics
Ethics recommending concepts of right and wrong behavior.
Ecological environment
It seeks to understand the vital connections between plants and animals and the world around them.
Role of business
1) Ensure sustainable and equitable use of resources without degrading the environment or risking
health or safety.
2) Prevent and control degradation of land, water, vegetation and air
3) Conserve and enhance natural and man-made heritage, including biological diversity of unique
ecosystems
4) Improve condition and productivity of degraded areas
5) Raise awareness and understanding of the link between environment and development
6) Promote individual and community participation
7) Promote international cooperation
Waste
(of a material, substance, or by-product) eliminated or discarded as no longer useful or required

after the completion of a process.
Reduce waste
Environmental degradation
Environmental degradation is the deterioration of the environment through depletion of

resources such as air, water and soil; the destruction of ecosystems; habitat destruction; the
extinction of wildlife; and pollution.
How to reduce
Reduce Our Over All Consumption of Resources
Our natural resources that the planet gives us are limited, but many people seem to forget that. If
we cut down our consumption by at least 70%, think of how much we could save. This includes
cutting down trees to make paper and other materials that we need, as well as fossil fuels, such as
oil, to fuel our cars and keep our industries moving. There are many companies who have already
made the switch to go green for the purpose of cutting down their over all resource consumption,
such as power, which every company should consider doing. Our wildlife and flora rely on their
natural environment, and if we keep tearing it down to serve our needs, we will have nothing left.
Reuse All the Resources and Materials That We Possibly Can
Second-hand consumption is definitely looked down upon, probably because we know that for
what we use, we’ll have more eventually. However, this will not be the case forever. Once
something runs out, we will never be able to get that resource back. If people start reusing specific
things, environmental degradation will be greatly reduced. We all must remember that we do not
use the things that were once used before us, which is a scary thought in itself.
Recycle What We Can, Whenever We Can
Recycling is the best way to slow down environmental degradation, and is something that everyone
should partake in. If we want to save the planet and take on this mission together, recycling the
best way to fight environmental degradation together.
Green Transportation
If we all rode bikes instead of driving cars, we could combat pollution quite easily. Cars and other
vehicles release pollution into the air, which only causes the slow, deadly process of environment
degradation to speed up, and cut our time on this planet even shorter. Not only would the air be so
much cleaner if we all chose green transportation, such as bike riding to get to where we all need
to go throughout the day, but over time we would all be in better shape. Meeting the needs of
everyone, especially our planet, when it comes to green transportation is so important, and among
one of the best ways to combat environments degradation.
Give Back to the Environment
The best possible way to help prevent environmental degradation, is to give back to the
environment. You can do this successfully by planting three trees for every one that is cut down
for the forestry industry. When it comes to the planet’s trees, you can never have enough. Trees
give us clean air to breathe, they literally filter out the bad and pump out the good, which is why
we’d never survive without them.
Green Management
Green Management is an initiative aiming at continuously improving the foundation of

environmental management, such as the development of personnel responsible for environmental
activities, environmental management systems, and environmental communication as well as
conservation of biodiversity.
WHY IS GREEN BUSINESS SO IMPORTANT?
There are hundreds—perhaps thousands—of examples of how “going green” can save you money
at home and at work. But I think the major reason that sustainability is so critical to business
success is because it helps us identify risks and opportunities that would otherwise go unnoticed.
It helps us look beyond this month’s sales, or next quarters earnings. It helps us focus our decision-
making on what’s really important.
Global environment
The term general environment refers to the overarching environment in which a company operates.
Market research
Market research is any organized effort to gather information about target markets or customers.
It is a very important component of business strategy.
WHY IS MARKET RESEARCH IMPORTANT FOR YOUR BUSINESS?
Market research provides detailed insights into the competitors, understand customers' pain points
& preferences, latest market trends, consumer buying patterns, economic shifts, and demographics.
That’s why smart business owners never underestimate market research and leverage it to creative
effective strategies.
Sector'
A sector is an area of the economy in which businesses share the same or a
related product or service. It can also be thought of as an industry or market that
shares common operating characteristics. Dividing an economy into different
sectors allows for more in-depth analysis of the economy as a whole.
Construction is the process of constructing a building or infrastructure.[1] Construction differs

from manufacturing in that manufacturing typically involves mass production of similar items without
a designated purchaser, while construction typically takes place on location for a known
client.[2] Construction as an industry comprises six to nine percent of the gross domestic
product of developed countries.[3]Construction starts with planning, design, and financing; it
continues until the project is built and ready for use.
Large-scale construction requires collaboration across multiple disciplines. A project
manager normally manages the job, and a construction manager, design engineer, construction
engineer or architect supervises it. Those involved with the design and execution must consider
zoning requirements, environmental impact of the job, scheduling, budgeting, construction-site
safety, availability and transportation of building materials, logistics, inconvenience to the public
caused by construction delays and bidding. Large construction projects are sometimes referred to
as megaprojects.
The food industry is a complex, global collective of diverse businesses that supplies most of the
food consumed by the world's population. Only subsistence farmers, those who survive on what they
grow, and hunter-gatherers can be considered outside the scope of the modern food industry.
The food Industry includes:
 Agriculture: raising of crops and livestock, and seafood
 Manufacturing: agrichemicals, agricultural construction, farm machinery and supplies, seed,
etc.
 Food processing: preparation of fresh products for market, and manufacture of prepared
food products
 Marketing: promotion of generic products (e.g., milk board), new products, advertising,
marketing campaigns, packaging, public relations, etc.
 Wholesale and food distribution: logistics, transportation, warehousing
The service sector, also called tertiary sector, is the third of the three traditional
economic sectors. The other two are the primary sector, which covers areas such as farming,
mining and fishing; and the secondary sector which covers manufacturing and making things.
The service sector provides a service, not an actual product that could be held in your hand.
Activities in the service sector include retail, banks, hotels, real estate, education, health, social
work, computer services, recreation, media, communications, electricity, gas and water supply.
Service workers, early 20th century
The service sector is an important part of the economy. For example, in Australia in 2007, 85% of all
businesses were in the service sector.In 2009 there were more than nine million people employed in
the service sector in Australia, which was 86% of all jobs.[1] In India, there has been a huge growth
in service sector businesses which made up 55% of India's GDP in 2006—2007.[2] Computer
software businesses in India are increasing at a rate of 35% per year.[2]
What is the 'Healthcare Sector' The healthcare sector consists of companies that provide
medical services, manufacture medical equipment or drugs, provide medical insurance, or
otherwise facilitate the provision of healthcare to patients.
The transportation sector is a category of companies that provide services moving people,
goods, or the infrastructure to do so.
Lifestyle is the interests, opinions, behaviours, and behavioural orientations of an individual,

group, or culture.[1][2] The term was introduced by Austrian psychologist Alfred Adler with the
meaning of "a person's basic character as established early in childhood",[3] for example in his
1929 book "The Case of Miss R.". The broader sense of lifestyle as a "way or style of living"
has been documented since 1961.[3] Lifestyle is a combination of determining intangible or
tangible factors. Tangible factors relate specifically to demographic variables, i.e. an
individual's demographic profile, whereas intangible factors concern the psychological
aspects of an individual such as personal values, preferences, and outlooks.
Beliefs and attitudes
The term linguistic variation (or simply variation) refers to regional, social, or
contextual differences in the ways that a particular language is used. Variation between languages,
dialects, and speakers is known as interspeaker variation.
The language barrier and its solutions

Perhaps the most serious barrier to language research in business has been the absence of clear
conceptual frameworks that explain how the language barrier actually works and what solutions might be
available. With Alan Feely I published two papers that helped answering these questions, one focusing
on the language barrier in HQ-subsidiary relationships and one on language management in MNCs. On a
citations per year basis, these two papers have become two of the three most cited papers published
in Cross Cultural Management: an International Journal since its inception.
A later interview-based study in Japanese subsidiaries of German MNCs has led to an article with Kathrin
Köster and Ulrike Mayer, identifying a range of solutions to overcome the language barrier in HQ-
subsidiary relationships. Work with Helene Tenzer and Markus Pudelko, published in JIBS in 2014 and the
third most cited article in the journal that year, looks at the impact of language barriers on trust in a
multinational team context. Finally, work with Ling Zhang looks at the role of the host country language in
the interaction between expatriates and local employees in China, culminating in a book on Managing
Expatriates in China.
Consumer technological expectations

a person who purchases goods and services for personal use.
Customer satisfaction reflects the expectations and experiences that the customer has with a
product or service. ... This information influences our expectations and gives us the ability to
evaluate quality, value, and the ability of the product or service to meet our needs and expectations.
Definition of techno structure

a group of technologists or technical experts having considerable control over the workings of
industry or government.
Emerging new technologies

Emerging technologies are technologies that are perceived as capable of changing the status quo.
These technologies are generally new but include older technologies that are still controversial and
relatively undeveloped in potential, such as preimplantation genetic diagnosis and gene therapy which
date to 1989 and 1990 respectively.
These are the top 10 emerging technologies of 2018
Augmented reality. Overlaying information and animation on to real-world images is set to go

mainstream. ...
Personalised medicine. ...
AI-led molecular design. ...
More capable digital helpers. ...
Plasmonic materials.
Economic planning
economic planning, the process by which key economic decisions are made or influenced by
central governments. It contrasts with the laissez-faire approach that, in its purest form, eschews
any attempt to guide the economy, relying instead on market forces to determine the speed,
direction, and nature of economic evolution.
Economic Environment
The totality of economic factors, such as employment, income, inflation, interest rates,
productivity, and wealth, that influence the buying behavior of consumers and institutions.
FDI
Foreign direct investment (FDI) is an investment made by a firm or individual in one country into
business interests located in another country. Generally, FDI takes place when an investor
establishes foreign business operations or acquires foreign business assets, including establishing
ownership or controlling interest in a foreign company. Foreign direct investments are
distinguished from portfolio investments in which an investor merely purchases equities of
foreign-based companies.
Nationalization and internationalization of business

Nationalization (or nationalisation) is the process of transforming private assets into public assets
by bringing them under the public ownership of a national government or state.
Internationalization is the designing of a product in such a way that it will meet the needs of users
in many countries or can be easily adapted to do so.
The Political Institutions (mid sheet)

definition of legislature
the group of people in a country or part of a country who have the power to make and change laws.
Responsibly of government and Business
State Policy
State Policy aim to create social and economic conditions under which the citizens can lead a good
life. They also aim to establish social and economic democracy through a welfare state.
 Fundamental principles of state policy

Fundamental Principles of State Policy enshrined in Articles 8 to 11 and 13 to 25 of Part II of the
Constitution of the People's Republic of Bangladesh. According to Article 8, as amended by the
Proclamations Order No. 1 of 1977, the principles of absolute trust and faith in Almighty Allah,
nation-alism, democracy and socialism meaning economic and social justice constitute the
fundamental principles of state policy.
Why business student should learn Business environment?
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Note: It is the Khosra Document of original document ( That means includes some topics as a help for

Title: Business Environment

Code: MGT 470

Sources or Classification of law

 laws are enacted by a legislature.

Technological change is improvement in the 'art' of making products or developing processes.

What is socio-cultural environment?

 Understanding How Culture Impacts Local Business Practices

1) The pace of business;

A community or population made up of people who share a common cultural background.

(of a material, substance, or by-product) eliminated or discarded as no longer useful or required

Environmental degradation is the deterioration of the environment through depletion of

Reduce Our Over All Consumption of Resources

Reuse All the Resources and Materials That We Possibly Can

Recycle What We Can, Whenever We Can

Give Back to the Environment

Green Management is an initiative aiming at continuously improving the foundation of

WHY IS GREEN BUSINESS SO IMPORTANT?

WHY IS MARKET RESEARCH IMPORTANT FOR YOUR BUSINESS?

Construction is the process of constructing a building or infrastructure.[1] Construction differs

Lifestyle is the interests, opinions, behaviours, and behavioural orientations of an individual,

Beliefs and attitudes

The language barrier and its solutions

Consumer technological expectations

Definition of techno structure

Emerging new technologies

Augmented reality. Overlaying information and animation on to real-world images is set to go

Personalised medicine. ...

AI-led molecular design. ...

More capable digital helpers. ...

Nationalization and internationalization of business

The Political Institutions (mid sheet)

Responsibly of government and Business

 Fundamental principles of state policy

Why business student should learn Business environment?

Mid term sheet

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