BUSINESS ADMINISTRATION
BUSINESS ENVIRONMENT
|
Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
|
|
|
True
|
|
|
False
|
Detailed explanation-1: -Business environment is the totality of all external forces that are affecting the performance of business, viz general forces (economic, social, political, legal and technology) and specific forces (investors, customers, competitors and suppliers).
Detailed explanation-2: -Specific forces are those forces which directly affect the operational activities of the business enterprise. Example: Suppliers, Customers, Investors, Competitors, Financers etc. General forces are those forces which indirectly affect the functioning of business enterprises.
Detailed explanation-3: -Strategies of Competitors. Terms and conditions of the Suppliers (any two)
Detailed explanation-4: -Business environment encompasses the climate or set of conditions, economic, social, political, or institutional in which business operations are conducted. The environment includes factors outside the firm which can lead to opportunities for or threats to the firm.