About the Book

Nothing but the change is constant—goes a well-known saying. The quote holds true for all spheres & aspects of human life & business environment. The onset of the 21st Century brought itself the turbulence in the business environment that had far reaching effects. The subprime crises that originated in the USA took its toll on many financial giants & the ripples created are yet to calm down. Hence in this scenario no student of management can afford to remain oblivious of the factors that determine& affect the business environment. The students hence should be well versed with the background of the world economy now & then. Another important highlight of this era has been the process of liberalisation, privatisation & globalisation which have brought about wide challenges & opportunities in most of the countries. The emergence of China & India has been phenomenon & is expected to take over the United States as the largest economy of the world. The organisations have to retune their strategies & ways of doing business in order to take the advantage of these developments.It is because of these reasons that the Universities & Institutes have incorporated the subject of Business environment to be taught to the management students. An attempt is made here by the authors to assist the students by way of providing Study Material as per the curriculum with non-commercial considerations. However, it is implicit that these are exam-oriented Study Material and students are advised to attend regular lectures in the Institute and utilize reference books available in the library for In-depth knowledge.We owe to many websites and their free contents; we would like to specially acknowledge contents of website www.wikipedia.com and various authors whose writings formed the basis for this book. We acknowledge our thanks to them. At the end we would like to say that there is always a room for improvement in whatever we do. We would appreciate any suggestions regarding this study material from the readers so that the contents can be made more interesting and meaningful. Readers can email their queries and doubts to our authors on tmcnagpur@gmail.com. We shall be glad to help you immediately.

Dr.Rekha Shivajirao Jadhav I Dr. Rupali M. Deore