 ༼ ༽༽༽༽༽༽༽༽ ༽༽༽༽༽༽༽༽༽༽༽༽༽༽༽༽༽༽༽༽༽༽༽༽༽༽༽༽༽༽༽༽༽༽༽༽༽༽༽༽༽༽༽༽༽༽༽༽༽༽༽༽༽༽༽༽༽༽༽༽༽༽༽༽� SO will receive section 1 of the unit 2 of the business environment course and society each unit has defined certain learning objectives and each unit has defined certain learning objectives let me finish in this part So what I have taken I have taken two learning objectives for the first part చాంమాకోత్ల్, సంలింమలికటికెసిన౔ందిఞా. పయాంప౅ందిందింది, యటింటదికా, పయాంత్లికటిందికిపరంచి. 1. వరూదిందింద రితికీటడిuntu to discuss the social environment of business. Business has got a number of other environments, social environment, technological environment, national environment, legal environment, economic environment, demographic environment, the number of environment. We shall discuss the social environment of business. Then we shall learn about the important social institutions. As I have told you, business environment is sum of all external and internal factors that influence a business. Any business is influenced by a number of factors. Those factors we can categorize into two. One is external, the other one is internal. Internal is within the organization. External is outside the organization. So, what will be within the organization factors? Suppose the unions of an organization. They also affect the business environment. It is not it. The working attitude of the employees also affects the work environment. Likewise, the external environment we can categorize into two. One is macro environment, the other one is micro environment. Both covers the external environment. Micro environment is a bridge border. As I have told you, the demographic environment. See, there is an increasing trend of migration from rural area to urban area. More and more number of women employees are taking part in the organizations. Suppose the women literacy is improving, infant mortality rate is decreasing. These are all parts of macro environment, the larger environment. Information communication technology spread. That is macro environment. Micro environment is those components which immediately influence the functioning of an organization. Suppose in an organization they need raw material, they need machineries, they need equipment. So, the suppliers are part of micro environment. The organization needs credit. It might have taken a loan from a bank. So, that bank is a part of the micro environment. The advertising agencies which are giving the advertisements of an organization are also part of micro environment. Means immediately surrounding the organization. Those who have got immediate influences on the functioning of an organization, they are all parts of micro environment. And this micro environment is also part of the larger macro environment. Economic policies, fiscal policies, Government of India budget, those are all macro environment. Those will affect not only our organization, that will also affect our bankers. That will also affect our advertising agencies. So, macro environment will have a larger area of influence. Whereas, micro environment components will have immediate influence on the functioning of the organization. So, when we talk about business and social environment, these aspects we need to be concerned. Social factors are related to general society and social relations that affect business. A few minutes back I told you that the increasing number of women workers means what? There is an increasing demand for crests. There is then the increasing demand for child welfare facilities. Social factors are related to general society and social relations that affect business. Suppose, in an organization, in an environment, that is fully vibe with positive psychology. So, that is likely to affect the employees of an organization also. They are also likely to be positive. Suppose, in an organization, there is attitude of hearty. So, the organization's employees are also likely to be affected by the external environment. Passion and consumer preferences keep on changing. Customs, beliefs, practices, these are all outside the organization which also affects the employees of the organization. So, business needs to operate as a cohesive unit for building a stable, positive, productive, organizational culture. So, you cannot sense the macro environment. Macro environment will influence you. Despite the influence to what extent you can adapt, that is the challenge for management. So, business organization, they will have to operate a cohesive unit for building a stable, positive, productive, organizational culture, so that they can sustain. Also, to detect any hostility or other dysfunction that needs to be corrected. So, business organizations should see the positive forces in an environment that at the same time the management of a business organization should also see the negativities, the hostilities or could be some dysfunctions which need to be corrected. So, types of social institutions, we all know, family is the earliest form of an organization. The head of the household, the father, mother, boy, girl, everyone has got their own distinctive roles and responsibilities. You are studying in an university. This university is also an educational institution. Family is an institution. Religion is an institution. And in today's context, we talk about the influence of social media. So, business organization is also, influence at the same time is also vulnerable to the forces of social media. So, these are all types of social institutions which impact the performance of a business organization. The familial background of the employees, affect the performance of the employees, affect the motivation, affect the attitude of the employees. The educational institutions from whom, from the organizations from which the requirements are conducted, the persons are recruited, their own educational background, their own educational training, that also influence the functioning of an organization. So, what I have tried to cover in this video is basically that what are the social institutions or what comprises the social environment of a business and how the management should be in a position to find out the positives in the environment at the same time to spot the negatives in the environment so that they can rectify and take the organization forward. Thank you. I shall cover the remaining parts of this unit in the subsequent two videos. Thank you.