BACHELOR OF BUSINESS ADMINISTRATION

Detailed explanation-1: -External environment factors are elements that exist outside of a company’s internal environment that can affect a company’s operations. These outside forces can help the business or present challenges to its current processes.

Detailed explanation-2: -Meaning of Business Environment: The word ‘business environment’ indicates the aggregate total of all people, organisations and other forces that are outside the power of industry but that may affect its production.

Detailed explanation-3: -The external environment of a business, also known as the macro environment, includes all factors outside the reach of the business, that can impact the operations of the business. External factors influence the choices a business makes, as they determine opportunities and risks.

Detailed explanation-4: -Business environment factors include internal and external factors that impact how a company does business. External factors include political, economic, sociocultural, technological, environmental, and legal factors.

Detailed explanation-5: -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.