Business Environment means all the external and internal factors that affect how a business operates, grows, and makes decisions.
Simple Definition:
Business Environment is the sum of all factors and forces outside and inside a business that influence its working and performance.
Types of Business Environment:
Internal Environment
Factors inside the business.
Example: Employees, Management, Company Culture, Resources.
External Environment
Factors outside the business.
Example: Customers, Competitors, Government, Economy.
External Environment is divided into:
Micro Environment
Directly affects business.
Customers
Suppliers
Competitors
Market
Macro Environment
Indirectly affects business.
Political
Economic
Social
Technological
Legal
Environmental
Example:
If the government changes tax policy, it affects business profits.
If new technology comes, businesses must update their system.
Requirements:
Get this or a similar paper done in as fast as 4 hours, 24/7.
NB: We do not sell prewritten papers. All essays are written from scratch according to specific needs and instructions
Leave a Reply
You must be logged in to post a comment.