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Business Environment, 2nd Edition

Book Description

The revised edition of Business Environment presents a thorough overhaul, updated with the latest information and developments. Having ten new chapters, including comparative study of business environments in India, China, SAARC and European Countr

Table of Contents

  1. Cover
  2. Title page
  3. Contents
  4. About the Author
  5. Dedication
  6. Foreword
  7. Preface to the Second Edition
  8. Preface
  9. 1 Business Environment
    1. Introduction
    2. Meaning and Definition
    3. Salient Features
    4. Importance of the Study
    5. Environmental Factors
    6. Business Environment and Strategic Management
    7. Market Opportunities
    8. Distribution of Household by Income, 1990–2000
    9. Recent Political Environment
    10. Recent Economic and Financial Environment
    11. Case
    12. Summary
    13. Key Words
    14. Questions
    15. References
  10. 2 Planning in India
    1. The Emergence of Planning
    2. The Planning Commission
    3. The National Development Council
    4. Objectives of Planning in India
    5. Five-Year Plans
    6. Distribution of Public Sector Outlay of Each Plan
    7. Tenth Five-Year Plan (2002–07)
    8. Five-Year Plans—Achievements and Failures
    9. Eleventh Five-Year Plan (2007–12)
    10. Liberalisation and Planning
    11. Case
    12. Summary
    13. Key Words
    14. Questions
    15. References
  11. 3 Industrial Policy
    1. Historical Background
    2. Government’s Role
    3. Meaning and Objectives of Industrial Policies
    4. Industrial Policies
    5. Evaluation of the New Industrial Policy
    6. New Trade Policy of 1991
    7. The New Small-Scale Sector Policy of 1991
    8. Recent Policies for Micro and Small Enterprises (MSE) Sector
    9. Case
    10. Summary
    11. Key Words
    12. Questions
    13. References
  12. 4 Industrial Licensing
    1. Industrial Licensing in India
    2. Objectives of Industrial Licensing
    3. Industrial Licensing Act of 1951
    4. Industrial Licensing Policy
    5. Policy Decisions
    6. Recent Industrial Licensing Policy
    7. Summary
    8. Key Words
    9. Questions
    10. References
  13. 5 India’s Monetary and Fiscal Policy
    1. Monetary Policy of India
    2. Concept and Meaning of Monetary Policy
    3. Objectives of the Monetary Policy
    4. Differences Between Monetary Policy and Fiscal Policy
    5. Meaning of CRR and SLR
    6. Impact of the Monetary Policy
    7. Measures to Regulate Money Supply
    8. Meaning of Some Monetary Policy Terms
    9. The Monetary Policy and IMF
    10. RBI’s Monetary Policy Measures
    11. RBI’s Monetary Policy, 2008–09
    12. Fiscal Policy of India
    13. Concept and Meaning of Fiscal Policy
    14. Objectives of the Fiscal Policy
    15. Fiscal Policy and Economic Development
    16. Techniques of Fiscal Policy
    17. Merits or Advantages of Fiscal Policy of India
    18. The Shortcomings of the Fiscal Policy of India
    19. Suggestions for Necessary Reforms in Fiscal Policy
    20. Fiscal Policy Reforms
    21. Fiscal Policy Statement, 2008–09
    22. Fiscal Policy—An Assessment
    23. Conclusions
    24. Case
    25. Summary
    26. Key Words
    27. Questions
    28. References
  14. 6 Economic Trends
    1. The Indian Financial Systems
    2. Indian Money Market
    3. Indian Capital Market
    4. Call Money Market
    5. Bill Market
    6. Financial System
    7. Structure of the Financial System
    8. Functions of the Indian Financial System: Promotion of Capital Formation
    9. The Price Policy
    10. Price Movement Since Independence
    11. Objectives of Price Policy
    12. Prices of Industrial Products
    13. Control of Expenditure
    14. Key Words
    15. Questions
    16. References
  15. 7 Stock Exchanges in India
    1. Concept and Meaning of Stock Exchange
    2. Types of Financial Markets
    3. SEBI and Its Role in the Secondary Market
    4. Products Available in the Secondary Market
    5. Regulatory Requirements Specified by SEBI for Corporate Debt Securities
    6. Broker and Sub-broker in the Secondary Market
    7. SEBI Risk Management System
    8. Investor Protection Fund (IPF)/Customer Protection Fund (CPF) at Stock Exchanges
    9. Foreign Institutional Investors (FIIs)
    10. Functions of Security Exchange Board of India
    11. Powers of Security Exchange Board of India
    12. Growth of Stock Market in India
    13. Key Words
    14. Questions
    15. References
  16. 8 National Income
    1. Meaning and Definition of National Income
    2. Concepts of National Income
    3. National Income Estimates in India
    4. Methodology of National Income Estimation in India
    5. Savings and Investments
    6. Trends in National Income Growth and Structure
    7. Causes for the Slow Growth of National Income in India
    8. Suggestions to Raise the Level and Growth Rate of National Income in India
    9. Major Features of National Income in India
    10. Difficulties or Limitations in the Estimation of National Income in India
    11. Key Words
    12. Questions
    13. References
  17. 9 Industrialisation and Economic Development
    1. Concept and Meaning of Industrialisation
    2. The Pattern of Industrialisation
    3. Relative Roles of Public and Private Sectors
    4. Inadequacies of the Programme of Industrialisation
    5. Role of Industries in the Economic Development
    6. Industries During the Plan Period
    7. Recent Industrial Growth
    8. Central Public Sector Enterprises (CPSEs)
    9. Micro and Small Enterprises (MSEs)
    10. Corporate Profitability and Investment
    11. Industrial Sickness
    12. Environmental Issues
    13. Challenges and Outlook
    14. Key Words
    15. Questions
    16. References
  18. 10 Foreign Trade Policy and Balance of Payments
    1. Foreign Trade Policy and Balance of Payments
    2. Main Features of India’s Trade Policy
    3. Phases of India’s Trade Policy
    4. India’s Foreign Trade Policy, 1991
    5. Major Trade Reforms
    6. Assessment of the New Trade Policy
    7. Balance of Payments (BoPs)
    8. Current Account Deficit (CAD)
    9. Capital Account Deficit
    10. Other Non-debt Flows
    11. Key Words
    12. Questions
    13. References
  19. 11 Poverty in India
    1. Concept, Meaning, and Definition of Poverty
    2. People Living Under Poverty Line
    3. Causes of Poverty in India
    4. Historical Trends in Poverty Statistics
    5. Poverty and Inclusive Growth
    6. Factors Responsible for Poverty
    7. Measures to Reduce Poverty
    8. Poverty Alleviation Programmes
    9. Poverty Alleviation Through Micro-credit
    10. Outlook for Poverty Alleviation
    11. Controversy over the Extent of Poverty Reduction
    12. Case
    13. Key Words
    14. Questions
    15. References
  20. 12 Unemployment in India
    1. Concept, Meaning, and Types of Unemployment
    2. Nature of Unemployment in India
    3. Magnitude of Unemployment
    4. Factors Responsible for Unemployment
    5. Steps to Reduce Unemployment
    6. Government Policy Measures to Reduce Unemployment
    7. Overview of Unemployment and Underemployment
    8. Case
    9. Key Words
    10. Questions
    11. References
  21. 13 Inflation
    1. Meaning and Definition of Inflation
    2. Features of Inflationary Economy
    3. Measures of Inflation
    4. Inflation and Developing Economies
    5. Demand-pull vs Cost-push Inflation
    6. Causes of Inflation
    7. Effects of Inflation
    8. Global Inflation and India
    9. Case
    10. Key Words
    11. Questions
    12. References
  22. 14 Human Development
    1. Concept of Human Development
    2. Meaning and Importance of Human Resource
    3. How to Attain Human Development
    4. Human Development and Gender Situation
    5. Growth of Human Development
    6. Human Development Report (2007–08)
    7. Overview of Human Development
    8. Case
    9. Summary
    10. Key Words
    11. Questions
    12. References
  23. 15 Rural Development
    1. Concept, Meaning, and Definition of Rural Development
    2. Integrated Rural Development
    3. Important Features of Rural Economy and Rural Society
    4. Scope of Rural Development
    5. Interdependence Between Rural and Urban Sectors
    6. Strategies for Rural Development
    7. Rural Water Supply and Sanitation
    8. Women and Child Development
    9. Challenges and Outlook
    10. Rural Development: A Critical Analysis
    11. Key Words
    12. Questions
    13. References
  24. 16 Problems of Growth
    1. Parallel Economy
    2. Regional Imbalances
    3. Social Injustice
    4. Case
    5. Key Words
    6. Questions
    7. References
  25. 17 Direct and Indirect Taxes
    1. Introduction
    2. Income Tax
    3. Corporate Tax
    4. Wealth Tax
    5. Excise Duties
    6. Customs Tariff
    7. Central Sales Tax (CST)
    8. Modified Value Added Tax (MODVAT)
    9. Central Value Added Tax (CENVAT)
    10. Value Added Tax (VAT)
    11. Case
    12. Summary
    13. Key Words
    14. Questions
    15. References
  26. 18 MRTP Act, FERA, and FEMA
    1. Monopolies and Restrictive Trade Practices Act (MRTP), 1969
    2. Foreign Exchange Regulation Act (FERA), 1973
    3. Foreign Exchange Management Act (FEMA), 1999
    4. Case
    5. Key Words
    6. Questions
    7. References
  27. 19 Business Ethics
    1. Ethics and Values
    2. Relevance of Ethics in Business
    3. Benefits of Ethical Business
    4. Importance of Business Ethics
    5. Values in Business
    6. Inculcating Values in Management
    7. Categories of Business Values
    8. Need for Ethics in Global Change
    9. Managing Ethics
    10. Impact of Globalisation on Business Ethics
    11. Business Ethics as Competitive Advantage
    12. Business Ethics in India
    13. Case
    14. Summary
    15. Key Words
    16. Questions
    17. References
  28. 20 Corporate Governance
    1. Definition
    2. The Need and Importance of Corporate Governance
    3. Problems of Corporate Governance
    4. Best Practices in Corporate Governance: An Indian and International Position Review
    5. The Board—Key to Good Corporate Governance
    6. Disclosure and Transparency: Partners of Good Governance
    7. Executive and Non-Executive Directors
    8. Brief Review of Overseas Development on Governance Issues
    9. The Search for a New Approach to Corporate Governance
    10. Code of Conduct for Corporate Governance
    11. Measures to Improve Corporate Conduct
    12. Corporate Governance and India
    13. Challenges Before Managers
    14. Corporate Governance and Some Indian Organisations
    15. Regulatory Framework of Corporate Governance in India
    16. Case
    17. Summary
    18. Key Words
    19. Questions
    20. References
  29. 21 Social Responsibility of Business
    1. Origin and Growth of Concept
    2. Meaning and Definition
    3. Definition Through Various Dimensions
    4. The Need for Social Responsibility of Business
    5. Social Responsibilities of Business Towards Different Groups
    6. Barriers to Social Responsibility
    7. Corporate Accountability vis-à-vis Social Responsibility
    8. Challenges for Social Responsibility of Business
    9. Emerging Perspectives for Corporate Social Responsibility
    10. Social Responsibility of Business in India
    11. Case
    12. Summary
    13. Key Words
    14. Questions
    15. References
  30. 22 Liberalisation
    1. Background
    2. Policy Changes
    3. Economic Liberalisation
    4. Meaning of Liberalisation
    5. The Path of Liberalisation
    6. Reform Achievements
    7. Industrial Growth
    8. Future Expectations
    9. Liberalisation—An Assessment
    10. Liberalisation and Growth of Indian Economy
    11. Issues and Challenges
    12. Case
    13. Key Words
    14. Questions
    15. References
  31. 23 Privatisation and Disinvestment of PSUs
    1. Public Sector Enterprises (PSEs)—The Necessity
    2. A Decade of Performance
    3. Concept, Meaning, and Objectives of Privatisation
    4. Disinvestment Strategies
    5. The Board for Reconstruction of Public Sector Enterprises (BRPSE)
    6. The New Disinvestment Policy and Programme
    7. Case
    8. Summary
    9. Key Words
    10. Questions
    11. References
  32. 24 Globalisation
    1. Background
    2. Views of Scholars on Globalisation
    3. Studies on Globalisation
    4. Efforts of Anglo-Americans
    5. Salient Aspects of Globalisation
    6. Role of Transnational Corporations (TNCs)
    7. Concept and Meaning
    8. Definition
    9. Features
    10. Globalisation is Inevitable
    11. Ten Rules of Global Reforms
    12. India and Globalisation
    13. Government’s Measures Towards Globalisation
    14. Globalisation and Its Impact on the Indian Industry
    15. Effects of Globalisation
    16. Pro-globalisation
    17. Anti-globalisation
    18. Globalisation—An Assessment
    19. A Critical Appraisal of Globalisation
    20. Threats to Globalisation
    21. Case
    22. Summary
    23. Key Words
    24. Questions
    25. References
  33. 25 Foreign Investment
    1. Meaning
    2. Need for Foreign Investment
    3. Adverse Implications of Foreign Investmen
    4. Determinants of Foreign Investmen
    5. Government Policies
    6. New Policies
    7. A Comparative Statistical Outline of FDI
    8. Case
    9. Summary
    10. Key Words
    11. Questions
    12. References
  34. 26 Multinational Corporations
    1. Origin
    2. Meaning
    3. Definition
    4. Objectives
    5. Reasons for the Growth of MNCs
    6. Favourable Impact of MNCs
    7. Harmful Effects of the Operations of MNCs on Indian Economy
    8. Domination of MNCs over Indian Economy
    9. Liberalisation and MNCs
    10. Assessment
    11. Future of MNCs
    12. A Critique of MNCs
    13. MNCs Deal a Blow to Domestic Companies
    14. Case 1
    15. Case 2
    16. Summary
    17. Key Words
    18. Questions
    19. References
  35. 27 India’s Import–Export Policies
    1. Historical Perspective
    2. Liberalisation Policy of Exim
    3. Exim Performance
    4. Exim Policies
    5. India’s Exim Performance
    6. Trade Scenario
    7. Exports
    8. Imports
    9. Export Promotion Measures
    10. Special Economic Zones (SEZs)
    11. Agri-export Zones(AEZs)
    12. Highlights of Foreign Trade Policy (FTP), 2004–09
    13. Case
    14. Summary
    15. Key Words
    16. Questions
    17. References
  36. 28 Special Economic Zones in India
    1. Concept and Meaning of SEZ
    2. The History of SEZ
    3. Definition of SEZ
    4. SEZs in India
    5. Benefits from SEZs
    6. Important SEZs in India
    7. Features and Facilities of SEZs in India
    8. SEZ and Export Promotion
    9. SEZ Policy of India: SEZ Act and SEZ Rule
    10. Salient Features/Provisions of SEZ Rules
    11. SEZ Controversy
    12. SEZs—A Global Overview
    13. Conclusion
    14. Case
    15. Key Words
    16. Questions
    17. References
  37. 29 International Business Environment
    1. Nature of International Business Environment
    2. Trends in the World Trade and Economic Growth
    3. General Agreement on Tariffs and Trade (GATT)
    4. General Agreement on Trade in Services (GATS)
    5. International Organisations
    6. International Monetary Fund (IMF)
    7. World Bank (WB)
    8. An Evaluation of IMF–WB
    9. World Trade Organization (WTO)
    10. International Finance Corporation (IFC)
    11. Asian Development Bank (ADB)
    12. United Nations Conference on Trade and Development (UNCTAD)
    13. United Nations Industrial Development Organization (UNIDO)
    14. International Trade Centre (ITC)
    15. Generalized System of PQuestions (GSP)
    16. Global System of Trade PReferences (GSTP)
    17. Case
    18. Key Words
    19. Questions
    20. References
  38. 30 World Trade Organization
    1. Background
    2. Meaning and Agreements
    3. Functions
    4. Principles of Trading
    5. Provisions for Developing Countries
    6. Other Provisions
    7. The WTO Agreement
    8. Liberalising Trade in Goods
    9. Textiles—Back in the Mainstream Rules
    10. Agriculture: Fairer Markets for All
    11. Trade Remedies
    12. Standards and Procedures
    13. Administrative Procedures
    14. Investment Measures
    15. Disputes Settlement Mechanisms
    16. Ministerial Meetings
    17. Trade-related Intellectual Property Rights (TRIPS)
    18. Trade-related Investment Measures (TRIMs)
    19. Non-tariff Barriers (NTBs) and Dispute Settlement Mechanism
    20. Anti-dumping Measures
    21. Subsidies
    22. Singapore Ministerial Meeting, 1996
    23. Geneva Ministerial Meeting, 1998
    24. Seattle Ministerial Meeting, 1999
    25. Doha Ministerial Meeting, 2001
    26. Cancun Ministerial Meeting, 2003
    27. WTO from 2005 to 2008
    28. Geneva Package, 2004
    29. Hong Kong Ministerial Conference, December 2005
    30. Key Outcomes and Timelines of the Hong Kong Ministerial Declaration of WTO
    31. Recent WTO Proposals
    32. Conclusion
    33. Summary
    34. Key Words
    35. Questions
    36. References
  39. Glossary
  40. Acknowledgements
  41. Copyright