BACHELOR OF BUSINESS ADMINISTRATION

Detailed explanation-1: -These events or situations can have either a positive or a negative impact on a business and are called environmental factors. There are two types of environmental factors: internal environmental factors and external environmental factors. Internal environmental factors are events that occur within an organization.

Detailed explanation-2: -Internal business environment refers to the factors/elements within 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: -External Factors Affecting an Organization External factors that affect an organization may be political, economic, social or technological. The same internal factors that lead to an organization’s success inevitably characterize that organization’s relationship to the external environment in these broad areas.