Volume : 1 | Issue : 9 | September 2012
ISSN - 2250-1991
Emerging trends in Indian Business
Environment Organized retail sector
*Dr. P. Jayasubramanian ** Mrs. M. Santhi
* Head & Assistant Professor, Department Of Commerce (Pa), Dr.n.g.p. Arts & Science College, Cbe. ** Assistant Professor, Department Ofcommerce, Vivekanandha College Of Arts And Sciences For Women., Tiruchengode Introduction
Meaning: - The term Business Environment is composed of
two words ‘Business’ and ‘Environment’. In simple terms, the state in which a person remains busy is known as Business.
The word Business in its economic sense means human
activities like production, extraction or purchase or sales of goods that are performed for earning profits.
entertainment and food all under one roof.
EMERGING TRENDS IN INDIAN RETAIL SECTOR:
The emerging trends in the Indian organized retail sector
would help the economic growth in India. There is a fantastic rise in the Indian organized retail sector in a very short period of time between 2001 and 2006. Eventually, out of the shadows of the unorganized retail sector, India has a chance of tremendous economic growth, both in India and abroad.
The emerging trends in the Indian organized retail sector are also adding up to the development of the Indian organized
retail sector. The relaxation by the government on regulatory controls on foreign direct investments has added to the process of the growth of the Indian organized retail sector.
On the other hand, the word ‘Environment’ refers to the aspects of surroundings. Therefore, Business Environment may be defined as a set of conditions – Social, Legal, Economical, Political or Institutional that are uncontrollable in nature and affects the functioning of organization. Business Environment has two components:
2. External Environment
Internal Environment: It includes 5 M’s i.e. man, material, money, machinery and management, usually within the control of business. Business can make changes in these factors according to the change in the functioning of enterprise.
External Environment: Those factors which are beyond the
control of business enterprise are included in external environment. These factors are: Government and Legal factors, Geo-Physical Factors, Political Factors, Socio-Cultural Factors, Demo-Graphical factors etc. It is of two Types: 1. Micro/Operating Environment
2. Macro/General Environment
The Retail Industry in India has come forth as one of the
most dynamic and fast paced industries with several players entering the market. But all of them have not yet tasted success because of the heavy initial investments that are
required to break even with other companies and compete with them. The India Retail Industry is gradually inching its way towards becoming the next boom industry. The total concept and idea of shopping has undergone an
attention drawing change in terms of format and consumer
buying behavior, ushering in a revolution in shopping in India. Modern retailing has entered into the Retail market in India as is observed in the form of bustling shopping centers, multistoried malls and the huge complexes that offer shopping,
THE INFRASTRUCTURE OF THE RETAIL SECTOR will
evolve radically in the recent future. The emergence of shopping malls is increasing at a steady pace in the metros and there are further plans of expansion which would lead to
150 new ones coming up in India by 2008. As the count of
super markets is going up much faster than rate of growth
in retail sector, it is taking the lions share in food trade. THE GROWTH OF THE INDIAN ORGANIZED RETAIL
SECTOR is anticipated to be heavier than the growth of
the gross domestic product. Alterations in people’s lifestyle, growth in income levels, and encouraging conventions of demography are proving favorable for the new emerging trends in the Indian organized...
References: 1. Www. Indian retail marketing.com
2. Business environment
3. Www. business opportunities and threads.com
4. Www. business chellengs.com
160 X PARIPEX - INDIAN JOURNAL OF RESEARCH
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