BUSINESS ADMINISTRATION
BUSINESS ENVIRONMENT
Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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Legal issues eg consumer law
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Suppliers
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Employees
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Competitors
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Detailed explanation-1: -For example, if a company values a flexible work-life balance, then its employees may have the flexibility to work at home or have flexible hours at work. If a company has Christian values, such as Chick Fil A, it may take a stance on legal decisions to keep within its value system.
Detailed explanation-2: -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-3: -An organization’s internal environment is composed of the elements within the organization, including current employees, management, and especially corporate culture, which defines employee behavior. Although some elements affect the organization as a whole, others affect only the manager.
Detailed explanation-4: -Employees are an important part of the internal environment of an organization. Managers must be able to manage lower-level employees and, at the same time, supervise the other factors of the internal environment.