Implication of Indian Social, Political, and Economic Systems on Entrepreneurial Decision Making

 
Indian Social, Political and Economic Systems:
 
Implication for decision making by individual
entrepreneurs
 
Entrepreneurship Development and Industrial
Consultancy (DBM-421)
 
A. K. Jha
 
India is a secular country.
Religion is one of the cultural variables.
Religion shapes the values and beliefs of a
person
It also has an influence on entrepreneurial
behaviour
Type of business  and
Women’s participation in business.
 
 
Indian Social, Political & Economic Systems
 
S
ocio-cultural environment encompasses all
the variables which are not included in
economic or political environment.
The socio cultural environment include
whole range of
behaviors and relationships in which people
engage in their private and personal lives
including the characteristic of population, age,
sex, race, class values and attitudes, lifestyle and
relationships.
 
S
ocio-cultural Environment
 
Cultural factors
Culture is a phenomena exhibited by groups and
this can mean society as a whole (national
culture), groups within society (sub culture) or
even groups of societies and nations (trans
national culture). For example,  many times the
word "Indian culture " is used.
This implies that there are certain values and way
of life that Indian societies might be sharing.
Social factors
It includes programmes and policies of the government
aimed at improving the living standards of the people
of that country by better availability of public services.
 
 
Different aspects of social environment:
 
Poverty and its alleviation programs
Labor and employment
Women and children development
Education
Health
Population and family welfare
Empowerment of disadvantageous groups
Public committees in rural and urban areas
 
Major Socio Cultural Variables of Indian Culture
 
Micro Environmental Factors
 
Business organization exert some
influence on micro environmental forces
as compared to macro environmental
forces.
This includes factors like:
Market Organization
Market intermediaries
Suppliers of raw material
E
mployees, etc.
 
Micro Environmental Factors
 
Business organizations sell their products with the
help of market intermediaries, which include
wholesalers, distributors, retailers and all other
middleman.
It is possible to control the activities of marketing
intermediaries by providing appropriate commissions,
training, other financial support etc.
Suppliers are individuals and organizations that
provide necessary resources for manufacturing
goods or providing services.
They are critical to an organization’s marketing success
and an important link in its value delivery system.
 
Environmental factors in decision
making
 
The success of any enterprise depends
upon managerial decisions.
Manager’s decisions are also affected by
environmental factors.
It is, therefore, necessary that managers
understand and evaluate the impact of
environmental factors on their decisions.
Slide Note
Embed
Share

India's socio-cultural environment, influenced by religious, cultural, and social factors, plays a significant role in shaping entrepreneurial behavior and business practices. Factors such as religion, cultural values, and government policies impact various aspects of society, including poverty alleviation, labor, education, and empowerment of disadvantaged groups. Understanding these variables is crucial for entrepreneurs in navigating the complex Indian business landscape.


Uploaded on Aug 10, 2024 | 0 Views


Download Presentation

Please find below an Image/Link to download the presentation.

The content on the website is provided AS IS for your information and personal use only. It may not be sold, licensed, or shared on other websites without obtaining consent from the author. Download presentation by click this link. If you encounter any issues during the download, it is possible that the publisher has removed the file from their server.

E N D

Presentation Transcript


  1. Indian Social, Political and Economic Systems: Implication for decision making by individual entrepreneurs Entrepreneurship Development and Industrial Consultancy (DBM-421) A. K. Jha

  2. Indian Social, Political & Economic Systems India is a secular country. Religion is one of the cultural variables. Religion shapes the values and beliefs of a person It also has an influence on entrepreneurial behaviour Type of business and Women s participation in business.

  3. Socio-cultural Environment Socio-cultural environment encompasses all the variables which are not included in economic or political environment. The socio cultural environment include whole range of behaviors and relationships in which people engage in their private and personal lives including the characteristic of population, age, sex, race, class values and attitudes, lifestyle and relationships.

  4. Cultural factors Culture is a phenomena exhibited by groups and this can mean society as a whole (national culture), groups within society (sub culture) or even groups of societies and nations (trans national culture). For example, many times the word "Indian culture " is used. This implies that there are certain values and way of life that Indian societies might be sharing. Social factors It includes programmes and policies of the government aimed at improving the living standards of the people of that country by better availability of public services.

  5. Different aspects of social environment: Poverty and its alleviation programs Labor and employment Women and children development Education Health Population and family welfare Empowerment of disadvantageous groups Public committees in rural and urban areas

  6. Major Socio Cultural Variables of Indian Culture Socio cultural variable Characteristics Administrative Existence of impersonal bureaucratic social relations, mistrust of fellow workers, highly centralized administration, more emphasis on hierarchical status in decision making, Bureaucratic delay, less amount of delegation, dissatisfied employees Attitude towards work and goals General and deep seated apathy, separation of work from its results, performance of tasks without any dedication, pride or interest Discipline and order Lack of discipline at all levels, Lack of trust on authority, Poor superior subordinate relationships Group Harmony Assumption of inequality of human beings, self centered behavior, suspecting fellow employees, lack of cooperation and teamwork Mostly indifferent and highly ambiva Education

  7. Micro Environmental Factors Business influence on micro environmental forces as compared to macro environmental forces. This includes factors like: Market Organization Market intermediaries Suppliers of raw material Employees,etc. organization exert some

  8. Micro Environmental Factors Business organizations sell their products with the help of market intermediaries, which include wholesalers, distributors, retailers and all other middleman. It is possible to control the activities of marketing intermediaries by providing appropriate commissions, training, other financial support etc. Suppliers are individuals and organizations that provide necessary resources for manufacturing goods or providing services. They are critical to an organization s marketing success and an important link in its value delivery system.

  9. Environmental factors in decision making The success of any enterprise depends upon managerial decisions. Manager s decisions are also affected by environmental factors. It is, therefore, necessary that managers understand and evaluate the impact of environmental factors on their decisions.

Related


More Related Content

giItT1WQy@!-/#giItT1WQy@!-/#giItT1WQy@!-/#giItT1WQy@!-/#giItT1WQy@!-/#giItT1WQy@!-/#giItT1WQy@!-/#