Credits: 3
Lecture Hours: 48
Course Objectives:
The course aims to provide the students with the knowledge of different facets of external business environment that are necessary for the survival of a business firm in the contemporary business world. It also aims to develop capacity and skills in the students of analyzing, synthesizing and evaluating these facets and applying them in the formulation of business and strategies. This course examines the relationship between business organizations and their functional areas.
Course Description:
The main topics covered in the course are: the business-environment interaction, analysis of the economic, political, social, cultural, legal, and technological environments and their effects on international business; trade policy instruments and implications for business; economic policies and reforms, corporate social responsibility; globalization and regional economic integration, multinational corporations; major drivers behind, and barriers to, foreign direct investment; impact of international institutions and organizations like WTO on Nepalese business. The purpose is to develop a solid understanding of the external, economy-wide factors that affect the performance and management of Nepalese business firms.
Course Details:
Unit 1: Introduction LH 3
Concept, relationship between business system and its environment, Importance and
components of business environment, Process and techniques of environmental analysis,
Business environment analysis for strategic management, Recent trends and emerging
business environment in Nepal.
Unit 2: Economic Environment LH 16
An overview of the Nepalese economy: Economic structure and dimensions; Economic
indices - National income; Rate and growth of GNP, per capita; Poverty situation; Distribution
of income; Nepal's foreign trade - structure and related issues; Labour market issues; Foreign
employment - trends and issues.
Economic planning: An overview of five year /three year plans of Nepal; Current Plan - its
objectives, targets and strategies applicable to business and industrial sectors; Millennium
Development Goals – parameters and progress in Nepal.
Nepalese economic policies and reforms: Industrial Policy- concept and objectives; Trade
Policy - concept and objectives; Tourism Policy - objectives and characteristics; Current
monetary policy; Economic policy reforms;
Agriculture and industrial sectors: Features and issues in Nepalese agricultural sector;
Nepal's industrial sector – structure, performance and constraints.
Unit 3: Political Environment LH4
Political system, its nature and significance for business; Political structure; Political parties,
Government’s role in business; Political stability issue; Impact of political environment on
Nepalese business structure. Interrelationships between politics, government and business.
Unit 4: Regulatory Environment LH 7
Constitutional framework; Directive principles; Fundamental rights; Main features and
provisions of business related legislation and policies in Nepal. Business legislation in Nepal -
Companies Act, 2006; Finance and investment legislation - Foreign Investment and
Technology Transfer Act, 1992; Income Tax Act, 2002; Industrial Enterprise Act, 1992;
Securities Act, 2063; Labor Act, 1992; Trade Union Act, 1992; Mines and Minerals Act, 1985;
Patent Design and Trade Mark Act, 1965; Copyright Act, 2002; Foreign employment
Act,2007.
Unit 5: Socio-Cultural Environment LH 4
Concept and components of socio-cultural environment; Impact of socio-cultural environment
to business, Analysis of components of Nepalese socio-cultural environment: attitudes, values
and beliefs, religion, language, education, social institutions, class structure and business
culture. Emerging socio-cultural changes in Nepal.
Unit 6: Social Responsibility of Business LH 3
Social responsibility of business: Concept, approaches and areas. Corporate accountability,
Social audit: Concept, models and procedures, consumerism.
Unit 7: Global Environment LH 7
Globalization - concepts and forms; Regional economic integration; A brief overview of the
regional economic groupings such as NAFTA, APEC, ASEAN, SAARC, SAFTA and
BIMSTEC; Economic reforms in South Asia; World Trade Organization (WTO) – Objectives,
structure, principles, agreements and most favoured nation treatment; Benefits of the WTO
trading system; Nepal's membership and commitments - opportunities and threats for Nepalese business, Recent trends and development in global environment.
Unit 8: Environment, Energy and Technology LH 4
Environment and energy management: Natural environment and pollution issues; Environment protection legislation and programs; Demand and supply of energy; Environment and energy management issues. Science and Technology Policy; IT Policy; Electronic Transactions Act, 2007; Status of technology in Nepalese businesses; Technology and human factors; Issues related to management of technology.
References:
Pant, Prem R. Business Environment in Nepal. Buddha Academic Publishers and Distributors,
Kathmandu.
Agrawal, G. R. Dynamics of Nepalese Business Environment. M. K. Publishers, Kathmandu.
Aswathappa, K. Business Environment for Strategic Management, Himalaya Publishing House, Bombay.
Cherunilam, F. Business Environment. Himalaya Publishing House, Bombay.
Relevant laws, literature and cases.
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