Business Environment & Legal Aspect of Business

Introduction to Micro Environment – Meaning of Business & Business Environment,, Types of Business Organizations , SWOT analysis , Types of Environment-Internal to the Enterprise (Value System, Management Structure and Nature, Human Resource, Company Image and Brand Value, Physical Assets, Facilities, Research & Development, Intangibles, Competitive Advantage), External to the Enterprise , Micro- Suppliers, Customers, Market Intermediaries; Macro- Demography, Natural, Legal & Political, Technological,) Michael Porter’s Five Forces Analysis, Competitive Strategies

Macro Factors: Economic, Socio-Cultural, Competitive & International Environment – Economy, Competition, Socio-cultural and International); Business Environment with reference to Global Integration; Comparative Analysis of Business Environment: India and Other Countries , Factors affecting international business environment, Business Policy : LPG model & International forces in business.

Law of Contract: Definition, essentials and types of contracts, offer definition and essentials, acceptance – definition and essentials, consideration – definition and essentials, exceptions to the rule, no consideration, no contract, doctrine of privity of contract, capacity of parties, free consent, quasi contract, legality of object, performance of contract, termination of contract, remedies for breach of contract. Sale of Goods Act: Essentials, sale v/s agreement to sell. Condition v/s warranties, rights of unpaid seller

Companies Act Definition, characteristics and kinds of companies, steps in formation of company. Memorandum of Association, Articles of Association, prospectus. Directors: appointment, power, duties and liabilities, meeting and resolutions: types of meetings. Auditor: appointment, rights and liabilities, modes of winding up of a company.

• Consumer Protection Act: Definitions - Aims and objectives, Consumer protection councils, Redressal agencies and penalties for violation. The Information Technology Act: Definition, Digital Signature, Electronic Governance, Attribution, Acknowledgment and Dispatch of Electronic Records, Sense Electronic Records and Sense Digital Signatures, Regulation of Certifying Authorities, Digital Signature Certificates, Duties of Subscribers, Penalties and Offences.
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