BACHELOR OF BUSINESS ADMINISTRATION

Detailed explanation-1: -Definition of Business Environment is sum or collection of all internal and external factors such as employees, customers needs and expectations, supply and demand, management, clients, suppliers, owners, activities by government, innovation in technology, social trends, market trends, economic changes, etc.

Detailed explanation-2: -External factors include political, economic, sociocultural, technological, environmental, and legal factors. Internal factors include things like values, management styles, Human Resources, technological and physical resources, and organizational structure.

Detailed explanation-3: -Some examples of areas which are typically considered internal factors are: Financial resources like funding, investment opportunities and sources of income. Physical resources like company’s location, equipment, and facilities. Human resources like employees, target audiences, and volunteers.

Detailed explanation-4: -Internal Environment refers to all the inlying forces and conditions present within the company, which can affect the company’s working. External Environment is a set of all the exogenous forces that have the potential to affect the organization’s performance, profitability, and functionality.