BUSINESS ADMINISTRATION
BUSINESS ENVIRONMENT
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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External Business Environment
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Business Environment
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Internal Business Environment
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Environment
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Detailed explanation-1: -Internal environment refers to the factors that influence the business and are present within the business itself.
Detailed explanation-2: -Business environment includes the external and internal factors that influence a business. External factors include political factors, macroeconomic factors, microeconomic factors, social factors, and technological factors.
Detailed explanation-3: -Examples of environmental factors affecting business include employees, competitors, suppliers, customers’ needs, owners, government regulations, market trends, technological developments, social factors, and economic factors.
Detailed explanation-4: -Business environment refers to all the factors that have a direct or indirect bearing on the activities of the business. The business environment can be internal or external. The internal environment consists of factors within the organisation.
Detailed explanation-5: -The components of a business environment can be media, customers, government, economic conditions, suppliers, competitors etc.