BUSINESS ADMINISTRATION
BUSINESS ENVIRONMENT
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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The three inter-related environments that impact a business include:
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Internal, Micro, and Legislation
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Internal, External, and Operations
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Internal, External Operating, and Socio-cultural
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Internal, External Operating, and External Macro
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Explanation:
Detailed explanation-1: -External factors include political, economic, sociocultural, technological, environmental, and legal factors. These are factors that happen outside of the company but still, impact its ability to do business. Internal factors include culture changes, management changes, and employee morale.
Detailed explanation-2: -The three types of business environments are market environment, micro-environment, and macro environment.
Detailed explanation-3: -The major environmental factors in business are technological factors, economic factors, social factors, political factors and cultural factors. These environmental factors are further classified as either specific factors or general factors.
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