Legal And Business Environment

Unit

Course Description

Sessions

I

Legal Aspect of Business: Introduction to Business Laws- Business Management and Jurisprudence; Structure of the Indian Legal Systems: Sources of Law; Manager and Legal System.

1

II

Law of Contract: Meaning of Contract; Essentials of a Valid Contract; Nature and Performance of Contract; Termination and Discharge of Contract.

Contract of Indemnity and Guarantee- Definition and Concept Basic Essentials of a Valid Contract of Indemnity and Guarantee, Difference between Contract of Guarantee and Contract of Indemnity, Contract of Bailment: Definition and Essentials. Rights and Duties of Bailer and Bailee and Law of Agency: Definition, Kinds of Agents, Rights and Duties of Agent and Principal Only.

Elements of Law Relating to Sale of Goods: Essentials of a Contract of Sale; Sale Distinguished from Agreement to Sell & Doctrine of Caveat Emptor.

5

III

Law Relating to Business Organisations:

Partnership Act, 1932: Partnership and its Essentials, Rights and Duties of Partners, Types of Partners, Registration of Firms, and Modes of Dissolution of Firms.

Elements of Company Law 2013: Meaning and Nature of Company, Incorporation of a Company, Concept of Memorandum of Association, Article of Association , Concept of Board of Directors, Company Meetings and Winding of Company.

3

IV

Protecting the Property of Business: Introduction to Copyright, Trademark, Secret, Geographical Indications, and Legislation for Anti-competitive and Unfair Trade Practices.

Alternate Dispute Resolutions: Introduction to Arbitration or Conciliation.

Introduction to Consumer Protection Act 2019: Formation & Working of Consumer Redressal Agencies.

3

V

Business Environment: Nature, Concept and Significance, Types of environment: Economic and Non-economic Environment and their Interaction, Environment Scanning and its Process, Interaction between Internal and External Environments, Emergence of Market Driven Economies, Essential of Competitive Economies, Emerging Sectors of Indian Economy.

3

VI

Liberalization, Privatization and Globalization (LPG): Introduction of Liberalization, Privatization and Globalization (LPG) Assessment of LPG in India with Respect to Financial, Automobile and FMCG. Current Industrialization Trends and Industrial Policy.

Agriculture and Business Role of Agriculture in Economic Development, Dependence of Business on Agriculture, Business Opportunities in the Rural Sector.

3

VII

Economic and Monetary Policies of India: Emergence of Micro, Small and Medium (MSME) Enterprises and Role of Institutions Micro, Small and Medium Enterprises in India, Role of SIDBI and other Institutions. Public Sector Reforms and Performance; Public-private Partnership

Monetary Policy, Fiscal policy, Current Inflationary Position and their Impact on Business Environment. Stock Exchange, Commodity Exchanges in India, the Role of SEBI, IRDA, Pension, and Board of Financial Supervision. Trends in Service Sector Growth; Role of RBI and Various Banking Reforms and Challenges

3

VIII

Globalization Trends and Challenges: Foreign Trade and Global Trends - Foreign Trade Policy, Balance of Payment and Balance of Trade, Exchange Rate and Competitiveness, Foreign Capital Flows and Foreign Collaboration, FDI in India. India’s Competitiveness in the World Economy.

3