What are the essential features of
(a) Liberalisation
(b) Privatisation
(c) Globalisation
Essential features of
(a) Liberalisation
(i) Abolishing licensing requirements in most of the industries except a short list.
(ii) No restriction on expansion or contraction of business.
(iii) Free movement of goods and services.
(iv) Freedom in fixing the prices of goods and services.
(v) Reduction in tax rates.
(vi) Simplifying procedures for imports and exports.
(vii) Making it easier to attract foreign capital and technology to India.
(b) Privatisation
(i) The government redefined the role of public sector.
(ii) Policy of planned disinvestments of the public sector.
(iii) Refining of sick enterprises to the Board of Industrial and Financial Reconstruction.
(c) Globalisation
(i) Import liberalisation
(ii) Export promotion
(iii) Foreign exchange reforms
How would you characterise business environment? Explain with examples, the difference between general and specific environment.
Identify changes in business environment under different heads – economic, social, technological, political and legal that have facilitated the companies decisions to plan significant invstments in organised retailing.
What has been the impact of these changes with regard to globalisation and privatisation?
What are the essential features of
(a) Liberalisation
(b) Privatisation
(c) Globalisation
How would you argue that the success of a business enterprise is significantly influenced by its environment?
Why it is important for business enterprises to understand their environment? Explain briefly.
What economic changes were initiated by the Government under the Industrial Policy, 1991? What impact have these changes made on business and industry?
Why it is important for business enterprises to understand their environment? Explain briefly.