BUSINESS ADMINISTRATION
BUSINESS ENVIRONMENT
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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Pressure Groups
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Employees
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Suppliers
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Investors or Owners
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Detailed explanation-1: -External environmental factors are the factors outside the organization that influence the business. These often include the social and cultural, natural environment, political, legal, technological, and economic factors.
Detailed explanation-2: -Economic environment includes all those forces which have an economic impact on business.
Detailed explanation-3: -The factors are: (1) Value System, (2) Mission and Objectives, (3) Organisation Structure, (4) Corporate Culture and Style of Functioning of Top Management, (5) Quality of Human Resources, (6) Labour Unions, and (7) Physical Resources and Technological Capabilities.
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.