BUSINESS ADMINISTRATION
BUSINESS ENVIRONMENT
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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Surroundings of business
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Forces, factors, institutions which directly or indirectly effect business
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Customers and employees
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None of the above
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Detailed explanation-1: -General forces: These are the forces that affects the business operations indirectly and the businessman has no control over these forces.. It includes social environment, political environment, technological environment etc.
Detailed explanation-2: -The business environment includes both general and specific forces. Specific forces include investors, customers, competitors, and suppliers. These factors affect individual enterprises directly and immediately in their day-to-day working. General forces include social, political, legal, and technological conditions.
Detailed explanation-3: -The four general forces are: Socio-cultural, political, economic and legal.
Detailed explanation-4: -The term economic environment refers to all the external economic factors that influence buying habits of consumers and businesses and therefore affect the performance of a company.
Detailed explanation-5: -Micro environment refers to the environment which is in direct contact with company and affects the routine activities of business straight away.