Generally Speaking An Environment Includes The Air We Breathe

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Generally speaking an environment includes the air we breathe, the water we drink,
the available business, social and educational infrastructure in the locality , state
and country etc. In the context of business the environment refers to the sum of
internal and external forces operating on an organization. The managers must
perforce recognize the elements, severity and impact of these forces on the
organization. They must identify, evaluate and react to the forces triggered by the
external environment.
More often than not, these forces are beyond the control of an organization and its
managers. Accordingly, the factors of the environment will need to be considered as
inputs in the planning and forecasting models developed by an organization.
It is quite possible that some large organizations themselves constitute a greater

part of the business environment e.g. Public Sector Oil Companies in India.
An organization operates within the larger framework of the external environment
that shapes opportunities and poses threats to the organization. The external
environment is a set of complex, rapidly changing and significant interacting
institutions and forces that affect the organization's ability to serve its customers.
External forces are not controlled by an organization, but they may be influenced or
affected by that organization. It is necessary for organizations to understand the
environmental conditions because they interact with strategy decisions. The
external environment has a major impact on the determination of marketing
decisions. Successful organizations scan their external environment so that they
can respond profitably to unmet needs and trends in the targeted markets.
The Organization as a System
Internally, an organization can be viewed as a resource conversion machine that

takes inputs (labor, money, materials and equipment) from the external
environment (i.e., the world outside the boundaries of the organization), converts
them into useful products, goods, and services, and makes them available to
customers as outputs. The organization must continuously monitor and adapt to the
environment if it is to survive and prosper. Disturbances in the environment may
spell profound threats or new opportunities. The successful organization will
identify, appraise, and respond to the various opportunities and threats in its
environment.
External Macro environment
The external macro environment consists of all the outside institutions and forces
that have an actual or potential interest or impact on the organization's ability to
achieve its objectives: competitive, economic, technological, political, legal,
demographic, cultural, and ecosystem. Though noncontrollable, these forces require
a response in order to keep positive actions with the targeted markets. An
organization with an environmental management perspective takes aggressive
actions to affect the forces in its marketing environment rather than simply
watching and reacting to it.
1. Economic Environment
The economic environment consists of factors that affect consumer purchasing
power and spending patterns. Economic factors include business cycles, inflation,
unemployment, interest rates, and income. Changes in major economic variables
have a significant impact on the marketplace. For example, income affects
consumer spending which affects sales for organizations. According to Engel's Laws,
as income rises, the percentage of income spent on food decreases, while the
percentage spent on housing remains constant.
2. Technological Environment
The technological environment refers to new technologies, which create new
product and market opportunities. Technological developments are the most
manageable uncontrollable force faced by marketers. Organizations need to be
aware of new technologies in order to turn these advances into opportunities and a
competitive edge. Technology has a tremendous effect on life-styles, consumption
patterns, and the economy. Advances in technology can start new industries,
radically alter or destroy existing industries, and stimulate entirely separate
markets. The rapid rate at which technology changes has forced organizations to
quickly adapt in terms of how they develop, price, distribute, and promote their
products.
3. Political and Legal Environment
Organizations must operate within a framework of governmental regulation and
legislation. Government relationships with organizations encompass subsidies,
tariffs, import quotas, and deregulation of industries.
The political environment includes governmental and special interest groups that
influence and limit various organizations and individuals in a given society.
Organizations hire lobbyists to influence legislation and run advocacy ads that state
their point of view on public issues. Special interest groups have grown in number
and power over the last three decades, putting more constraints on marketers. The
public expects organizations to be ethical and responsible. An example of response
by marketers to special interests is green marketing, the use of recyclable or
biodegradable packing materials as part of marketing strategy.
The major purposes of business legislation include protection of companies from
unfair competition, protection of consumers from unfair business practices and
protection of the interests of society from unbridled business behavior. The legal
environment becomes more complicated as organizations expand globally and face
governmental structures quite different from those within the United States.
4. Demographic Environment
Demographics tell marketers who current and potential customers are; where they
are; and how many are likely to buy what the marketer is selling. Demography is
the study of human populations in terms of size, density, location, age, sex, race,
occupation, and other statistics. Changes in the demographic environment can
result in significant opportunities and threats presenting themselves to the
organization. Major trends for marketers in the demographic environment include
worldwide explosive population growth; a changing age, ethnic and educational
mix; new types of households; and geographical shifts in population.
[. Social / Cultural Environment
Social/cultural forces are the most difficult uncontrollable variables to predict. It is
important for marketers to understand and appreciate the cultural values of the
environment in which they operate. The cultural environment is made up of forces
that affect society's basic values, perceptions, preferences, and behaviors. U.S.
values and beliefs include equality, achievement, youthfulness, efficiency,
practicality, self-actualization, freedom, humanitarianism, mastery over the
environment, patriotism, individualism, religious and moral orientation, progress,
materialism, social interaction, conformity, courage, and acceptance of
responsibility. Changes in social/cultural environment affect customer behavior,
which affects sales of products. Trends in the cultural environment include
individuals changing their views of themselves, others, and the world around them
and movement toward self-fulfillment, immediate gratification, and secularism.
6. Ecosystem Environment
The ecosystem refers to natural systems and its resources that are needed as
inputs by marketers or that are affected by marketing activities. Green marketing
or environmental concern about the physical environment has intensified in recent
years. To avoid shortages in raw materials, organizations can use renewable
resources (such as forests) and alternatives (such as solar and wind energy) for
nonrenewable resources (such as oil and coal). Organizations can limit their energy
usage by increasing efficiency. Goodwill can be built by voluntarily engaging in
pollution prevention activities and natural resource.
External Microenvironment
The external microenvironment consists of forces that are part of an organization's
marketing process but are external to the organization. These micro environmental
forces include the organization's market, its producer-suppliers, and its marketing
intermediaries. While these are external, the organization is capable of exerting
more influence over these than forces in the macro environment.
1. The Market
Organizations closely monitor their customer markets in order to adjust to changing
tastes and preferences. A market is people or organizations with wants to satisfy,
money to spend, and the willingness to spend it. Each target market has distinct
needs, which need to be monitored. It is imperative for an organization to know
their customers, how to reach them and when customers' needs change in order to
adjust its marketing efforts accordingly. The market is the focal point for all
marketing decisions in an organization.
2. Suppliers
Suppliers are organizations and individuals that provide the resources needed to
produce goods and services. They are critical to an organization's marketing
success and an important link in its value delivery system.
3. Marketing Intermediaries
Like suppliers, marketing intermediaries are an important part of the system used
to deliver value to customers. Marketing intermediaries are independent
organizations that aid in the flow of products from the marketing organization to its
markets. The intermediaries between an organization and its markets constitute a
channel of distribution. These include middlemen (wholesalers and retailers who
buy and resell merchandise). Physical distribution firms help the organization to
stock and move products from their points of origin to their destinations.
Warehouses store and protect the goods before they move to the next destination.
Marketing service agencies help the organization target and promote its products
and include marketing research firms, advertising agencies, and media firms.
Financial intermediaries help finance transactions and insure against risks and
include banks, credit unions, and insurance companies.
Importance of understanding the environment

The managers job cannot be accomplished in a vacuum within the organization.
There are a number of factors both internal as well as external which jointly affect
managerial decision-making. It is therefore very important for the manager to
understand and evaluate the impact of the business environment due to the
following reasons :
a)Businesses may be doomed to be non starters due to restrictive business

environment which may take the form of rigid government laws ( no polluting
industry can ever be located in around [ Km radius of the Taj) , state of
competition ( Car manufacturing capacity presently in the country is far in excess of
demand) etc.
b)The present and future viability of an enterprise is impacted by the environment

For eg no TV manufacturer can be expected to survive by making only B&W
television sets when consumer preference has clearly shifted to colour television
sets.
c)The cost of capital and the cost of borrowing - two key financial drivers of any
enterprise are impacted by the external environment . For eg the ability of a
business to fund its expansion plan by raising money from the stock markets
depends on the prevalent public mood towards investment in stock markets.
d)The availability of all key inputs like skilled labour , trained managers , raw
materials , electricity , transportation , fuel etc are a factor of the business
environment.
e)Increasing public awareness of the negative aspects of certain industries like

hand woven carpets ( use of child labour ) , pesticides (damage to environment in
the form of chemical residues in groundwater), plastic bags (choking of sewer lines)
have resulted in the slow decline of some industries.
f)Finally , the environment offers the opportunities for growth and profits . For eg
when the insurance and aviation industry was thrown open to the private sector ,
the new entrant could easily build on the expectations of the public.
Changing profile of Indian economic environment

India gained independence in 1947 paving the way for national leaders of the
Indian Government to build an economically independent new India. Policies
between 19[ -7 were implemented with a sincere belief in the efficacy of the
socialist philosophy and political democracy. Heavy investment by government in
Steel plants, atomic energy, hydroelectric power and irrigation projects laid the
foundation of a strong industrial edifice. The non-aligned movement at a time when
the world was divided into two power blocks with cold war between the Super-
powers, prevented India from becoming a satellite of any other nation and enabled
it to protect Its economy and the Indian Population.
Indian economy has made great strides in the years since independence. In 1947
the country was poor and shattered by the violence and economic and physical
disruption involved in the partition from Pakistan. The economy had stagnated since
the late nineteenth century, and industrial development had been restrained to
preserve the area as a market for British manufacturers. In fiscal year (FY) 19[ ,
agriculture, forestry, and fishing accounted for [.9 percent of the gross domestic
product (GDP) and for a much larger proportion of employment. Manufacturing,
which was dominated by the jute and cotton textile industries, accounted for only
1 .3 percent of GDP at that time.
India's new leaders sought to use the power of the state to direct economic growth
and reduce widespread poverty. The public sector came to dominate heavy
industry, transportation, and telecommunications. The private sector produced
most consumer goods but was controlled directly by a variety of government
regulations and financial institutions that provided major financing for large private-
sector projects. Government emphasized self-sufficiency rather than foreign trade
and imposed strict controls on imports and exports. In the 19[ s, there was steady
economic growth, but results in the 196 s and 197 s were less encouraging.
Beginning in the late 197 s, successive Indian governments sought to reduce state
control of the economy. Progress toward that goal was slow but steady, and many
analysts attributed the stronger growth of the 19 s to those efforts. In the late
19 s, however, India relied on foreign borrowing to finance development plans to
a greater extent than before. As a result, when the price of oil rose sharply in
August 199 , the nation faced a balance of payments crisis. The need for
emergency loans led the government to make a greater commitment to economic
liberalization than it had up to this time. In the early 199 s, India's post-
independence development pattern of strong centralized planning, regulation and
control of private enterprise, state ownership of many large units of production,
trade protectionism, and strict limits on foreign capital was increasingly questioned
not only by policy makers but also by most of the intelligentsia.
But too much of protection from the Government had its own disadvantages. Our
quality standards were not in tune with international competition. It had produced
more traders than industrialists. It was high time that Indian economy became
more open and entered the international market.
India embarked on a series of economic reforms in 1991 in reaction to a severe
foreign exchange crisis. Those reforms have included liberalized foreign investment
and exchange regimes, significant reductions in tariffs and other trade barriers,
reform and modernization of the financial sector, and significant adjustments in
government monetary and fiscal policies.
The reform process has had some very beneficial effects on the Indian economy,
including higher growth rates, lower inflation, and significant increases in foreign
investment. Foreign portfolio and direct investment flows have risen significantly
since reforms began in 1991 and have contributed to healthy foreign currency
reserves ($32 billion in February 2 ) and a moderate current account deficit of
about 1% (199-99). India's economic growth is constrained, however, by
inadequate infrastructure, cumbersome bureaucratic procedures, and high real
interest rates. India will have to address these constraints in formulating its
economic policies and by pursuing the second generation reforms to maintain
recent trends in economic growth.
India's trade has increased significantly since reforms began in 1991, largely as a
result of staged tariff reductions and elimination of non-tariff barriers. The outlook
for further trade liberalization is mixed. India has agreed to eliminate quantitative
restrictions on imports of about 1,42 consumer goods by April 2 1 to meet its
WTO commitments. On the other hand, the government has imposed "additional"
import duties of [% on most products plus a surcharge of 1 % over the past 2
years. The U.S. is India's largest trading partner; bilateral trade in 199-99 was
about $1 .9 billion. Principal U.S. exports to India are aircraft and parts, advanced
machinery, fertilizers, ferrous waste and scrap metal, and computer hardware.
Major U.S. imports from India include textiles and ready-made garments,
agricultural and related products, gems and jewelry, leather products, and
chemicals.
Significant liberalization of its investment regime since 1991 has made India an
attractive place for foreign direct and portfolio investment. The U.S. is India's
largest investment partner, with total inflow of U.S. direct investment estimated at
$2 billion (market value) in 1999. U.S. investors also have provided an estimated
11% of the $1 billion of foreign portfolio investment that has entered India since
1992. Proposals for direct foreign investment are considered by the Foreign
Investment Promotion Board and generally receive government approval.
Automatic approvals are available for investments involving up to 1 % foreign
equity, depending on the kind of industry. Foreign investment is particularly sought
after in power generation, telecommunications, ports, roads, petroleum exploration
and processing, and mining.
As India moved into the mid-199 s, the economic outlook was mixed. Most
analysts believed that economic liberalization would continue, although there was
disagreement about the speed and scale of the measures that would be
implemented. It seemed likely that India would come close to or equal the
relatively impressive rate of economic growth attained in the 19 s, but that the
poorest sections of the population might not benefit.
In the recent past, India has witnessed changes in several critical factors
strengthening its economy. With globalisation becoming the key word of the 9 's, it
seems to have paved the way for India's entry in world markets. Economic reforms
have been initiated to facilitate stabilisation and structural -adjustments essential
for the growth of the economy
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Environment/2[27 4#ixzz1J96jQDPd
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Generally Speaking An Environment Includes The Air We Breathe

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Generally Speaking An Environment Includes The Air We Breathe

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c 

It is quite possible that some large organizations themselves constitute a greater

Internally, an organization can be viewed as a resource conversion machine that

Importance of understanding the environment

a)Businesses may be doomed to be non starters due to restrictive business

b)The present and future viability of an enterprise is impacted by the environment

e)Increasing public awareness of the negative aspects of certain industries like

Changing profile of Indian economic environment

Read more: http://www.articlesnatch.com/Article/Business-

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