The concept of strategy has been borrowed from the military
and adapted for use in business. In business, as in the military, strategy
bridges the gap between policy and tactics. Together, strategy and tactics
bridge the gap between ends and means. Richard Shamoon business policy and
strategic management, major tasks in strategic management, vision and mission
and objectives of the strategic enterprise, strategic analysis in terms of swot
analysis, tows matrix, portfolio analysis, strategic planning, marketing,
financial production, logistics, research and development and human resources
strategy formulation, implementation and control and achieved the strategic
edge for the purpose of clarifying the concept and placing it in this context.
In this chapter Richard Shamoon discuss about the business, major objectives of
business like survival, stability, growth, efficiency and profitability,
environmental influence to business, environment analysis, characteristics of
business environment, components of business environment, to know the
relationship between the organization and its environment, the micro and macro
environment and its elements like customers, competitors, organization, market,
suppliers, intermediaries, demographic, economic, government, legal, political,
cultural, technological and global environment impact on business. Companies
how to enter into global market, its manifestation trends, strategic response
to business, Porter’s competitive and five forces model analysis for business
enterprises in industry, commerce and services sector
Meaning of Business
Environment:
The term ‘typically’ refers to the development and
processing of economic values in society. Normally, the term is applied to portion
of economic activities whose primary purpose is to provide goods and services
for society in an effective manner. It is also applied to economics and
commercial activities of institutions which having other purposes. Business
principally comprises of an all profit seeking activities of the organization
which provide goods and services that are necessary to economic system. It is
the major economic pulse of a nation, striving to increase society’s standard
of living. Finally, profits are a primary mechanism for motivating these
activities. Business is in any organization which makes distribution or
provides any article or service to the customers, who are belonging to members
of the society. Business may be satisfied customers needs for these purpose customers
are able and willing to pay for it. Business may be defined as “the organized
effort by individuals to produce goods and services to sell these goods and
services in a market place and to reap some reward for this effort.”
Functionally, we may define business as “those human activities which involves
production or purchase of goods with the object of selling them at a profit
margin”.
• The term business refers to the state of being busy for an
individual, group, organization or society.
• It is also interpreted as one’s regular occupation or
profession or economic activities.
• It deals with particular entity, company, organization,
enterprise, firms or corporation.
• It also interpreted
as particular market segment sector like computer business and it included
under term business.
• It is wide and willing to use different activities
• It consists of purchase, sale, manufacture, processing,
marketing of products, services like manufacturing, trading, transportation,
warehousing, banking and finance, insurance and advertising etc.
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