BACHELOR OF BUSINESS ADMINISTRATION

Detailed explanation-1: -Definition: Specific Environment is the part of the external environment of an organization with which it interfaces in the course of conducting its business. Also called: Task Environment.

Detailed explanation-2: -A PEST analysis (or STEP analysis) invites you to list all the relevant external forces using four headings: Political, Economic, Sociological and Technological. These are useful headings; it doesn’t matter that some items might be both political and economic (eg taxation and exchange rates).

Detailed explanation-3: -Example: Economic, Social, Political, Legal and Technological conditions. Different forces of business environment are interrelated to each other.