Business, Government and Society
BUSINESS
GOVERNMENT AND SOCIETY
Written Report
Table of Contents
Introduction3
Current Business Environment3
Business and Government5
The Legal System5
Effectiveness of the system5
Reforms6
Infrastructure development reform programme6
Trade and Investment liberalisation package6
Governance Reforms7
Government Information System7 Regulations 8
Tax Regulations8
Trade Regulations8
Business and Society9 Corporate Social Responsibility9 Relations10 Infrastructure11 Tapping on resources11 Research and Development11 Safe environment12
Poverty and Child Labour12
Conclusion14
Appendix16
Introduction
Business environment encompasses all factors that affect a company 's operations, and includes customers, competitors, stakeholders, suppliers, industry trends, regulations, other government activities, social and economic factors, and technological developments. It is also known as Operating Environment.
Business Environment can be further categorised into Market Environment and Nonmarket Environment. Market environment describes interactions between firms, suppliers and customers that are governed by markets and contracts. Firms are expected to operate effectively by being efficient in production and responsive to consumer demand. They must also anticipate and adapt to change, innovate through research and development, and develop new products and services. Effective management is the key to success for the firms. In contrast, Nonmarket environment is composed of the social, political and legal arrangements that structure interactions outside of, but in conjunction with, markets and contracts as well as interactions between firm and individuals, interest groups, government entities and the public that are intermediated not by markets but by public and private institutions. Nonmarket environment is important because it affects performance of firm in the market environment. Failure to deal with non market
GOVERNMENT AND SOCIETY
Written Report
Table of Contents
Introduction3
Current Business Environment3
Business and Government5
The Legal System5
Effectiveness of the system5
Reforms6
Infrastructure development reform programme6
Trade and Investment liberalisation package6
Governance Reforms7
Government Information System7 Regulations 8
Tax Regulations8
Trade Regulations8
Business and Society9 Corporate Social Responsibility9 Relations10 Infrastructure11 Tapping on resources11 Research and Development11 Safe environment12
Poverty and Child Labour12
Conclusion14
Appendix16
Introduction
Business environment encompasses all factors that affect a company 's operations, and includes customers, competitors, stakeholders, suppliers, industry trends, regulations, other government activities, social and economic factors, and technological developments. It is also known as Operating Environment.
Business Environment can be further categorised into Market Environment and Nonmarket Environment. Market environment describes interactions between firms, suppliers and customers that are governed by markets and contracts. Firms are expected to operate effectively by being efficient in production and responsive to consumer demand. They must also anticipate and adapt to change, innovate through research and development, and develop new products and services. Effective management is the key to success for the firms. In contrast, Nonmarket environment is composed of the social, political and legal arrangements that structure interactions outside of, but in conjunction with, markets and contracts as well as interactions between firm and individuals, interest groups, government entities and the public that are intermediated not by markets but by public and private institutions. Nonmarket environment is important because it affects performance of firm in the market environment. Failure to deal with non market