Page 107 - DMGT302_FUNDAMENTALS_OF_PROJECT_MANAGEMENT

Fundamentals of Project Management

Notes 5.7 Summary

Environmental analysis is nothing but identifying opportunities and threats affecting
their business.

Social and cultural environment refers to the influenced exercised by certain factors which
are beyond the company’s gate.

Competitive markets exist in every economy, so long as two or more individuals are
willing to undertake exchange transactions.
Economic environment refers to all those economic factors which have a bearing on the
functioning of business.
The Government of India is now implementing several law for the monitoring and
regulating business and industries.

The most appropriate definition of environmental pollution would be the introduction of
different harmful pollutants into certain environment.
Many developed countries have introduced certain laws to not only regulate various
types of pollution but also the laws to mitigate the adverse effects of pollution.
Industrial pollution is pollution which can be directly linked with industry, in contrast to
other pollution sources.
The aim of an EIA is to ensure that potential impacts are identified and addressed at an
early stage in the projects planning and design.

One of the biggest concerns with the environmental clearance process is related to the
quality of EIA report that are being carried out.

5.8 Keywords

Competitive environment: Competitive markets exist in every economy, so long as two or more
individuals are willing to undertake exchange transactions.
Economic environment: Economic environment refers to all those economic factors which have
a bearing on the functioning of business, like: economic policies, economic systems and economic
reforms

EIA: EIA is an exercise to be carried out before any project or major activity is undertaken to
ensure that it will not in any way harm the environment on a short term or long term basis.
Mitigation: In this phase the study team formally analyses mitigation. A wide range of measures
are proposed to prevent, reduce, remedy or compensate for each of the adverse impacts evaluated
as significant.

Political environment: Ruling party makes the policies of the government. Agenda of political
party is most influencing factor for the business development.
Social and cultural environment: Social and cultural environment refers to the influenced
exercised by certain factors which are beyond the company’s gate. Such factors include people’s
attitude to work and wealth, role of family, marriage, religion and education, ethical issues and
social responsiveness of business.
Technological environment: Technological environment is prevailing even before evolution of
computers.

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