BACHELOR OF BUSINESS ADMINISTRATION

Detailed explanation-1: -An external environment is composed of all the outside factors or influences that impact the operation of business.

Detailed explanation-2: -External business environment refers to the factors/elements outside the organization which may affect, either positively or negatively, the performance of the organization.

Detailed explanation-3: -Micro Environmental factors It is a collection of forces or factors that are close to the organization and can influence the performance as well as the day to day activities of the firm. Six components of micro environment are: Company, Suppliers, Marketing Intermediaries, Competitors, General Public and the Customers.

Detailed explanation-4: -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-5: -Customers, competition, economy, technology, political and social conditions, and resources are common external factors that influence the organization. Even if the external environment occurs outside an organization, it can have a significant influence on its current operations, growth and long-term sustainability.