Department/Unit / Abbreviation: PEM/NPBEN
Title: Business Environment
Form of course completion: Course-credit
Form of examination: Written
Course objectives: The business environment is an important determinant for long-term
development of entrepreneurial activities. The course objective is to provide students
comprehensive and necessary knowledge about business environment and its parts. Students will
be introduced to the issue of business environment in the whole its complexity and the specificity.
Requirements on student: attendance in seminars 60 %, seminar paper, defense of seminar paper,
course credit test
Content:
Business Environment
Business environment refers to those aspects of the surroundings of enterprises which have
influence on the functioning of entrepreneurial activities. The surroundings of enterprise are
constantly changing. The success of enterprise depends on its alertness and adaptability to
changes in the environment.
External and Internal Business Environment
Enterprises are affected by internal and external environmental factors. Internal environment
includes internal factors of the enterprise which can be controlled by enterprise. Internal
environment refers to environment within the organization. Whereas external factors are beyond
the control of enterprise. External environment includes factors outside the enterprise which can
provide opportunities or pose threats to the enterprise.
Global Business Environment
Global business environment is broader environment than the business environment of a
particular country. Significant part of the global business environment is the world economy. The
objective of the topic is to understand (and identify) forces that shape the global business
environment.
Analysis of the Business Environment
Analysis of the business environment is the study of various components of environment affecting
the enterprise. It is the process by which enterprises monitor their relevant environment to
identify opportunities and threats affecting their business. The analysis becomes an important
step towards corporate planning and business policy decisions.
Business Environment of Transnational Enterprises
Enterprises that are involved in international business will deal with a variety of regulatory
regimes. Contemporary business environment is governed by both national regulations and
multilateral rules. It is important for transnational enterprises to understand both how the
international institutions operate and they array of trade regulations which one is likely to be
faced with when undertaking commercial relations across international boundaries.
Business Environment of Family Businesses
Family businesses are crucially important for global business environment. Business environment
in family business has some specific features. These specifics are given by blending of ownership
factor, management factor and family factor.
Prerequisites - None
Competences acquired: Students will gain knowledge of business environment and methods of
analysis of the business environment (internal and external environment). Students will gain the
ability to navigate the complexities of business environment and be able to analyze changes in it.
Students will learn how to apply methods for assessing the business environment.
Literature:
Compulsory:
WETHERLY, P. and D. OTTER, 2014. The Business Environment: Themes and Issues in a Globalizing
World, 3rd ed. Oxford University Press. ISBN 978-0-19-966138-1.
HAMILTON, H. and P. WEBSTER, 2015. The International Business Environment, 3rd
ed. Oxford
University Press. ISBN 978-0-19-870419-5.NORDQVIST, M., MELIN, L., WALDKIRCH, M. and G.
KUMETO, 2015. Theoretical Perspectives on Family Business. Edward Elgar Publishing. ISBN 978-1-
7834-79658.
Recommended:
CAMBELL, D. and T. CRAIG. 2012 Organizations and Business Environment, 2nd
ed. Routledge.
Elsevier Butterworth-Heinemann. ISBN 978-1-1363-7518-7.
KASLOW, F. W. 2012. Handbook of Family Business and Family Business Consultations: A Global
Perspective. Routledge. Taylor & Francis Group. ISBN 978-1-1367-8141-4.
PAUL, D., EVA, M., CADLE, J., HINDLE, K., YEATES, D., ROLLASON, C. and P. TURNER, 2014. Business
Analysis, 3rd
ed. Swindon: BCS Learning & Development Limited. ISBN 978-1-780172-77-4.
WARNOCK, D. 2015. The International Business Environment: A Handbook for Managers and
Executives. CRC Presss. ISBN 978-1-4987-3115-7.