GK
BUSINESS MANAGEMENT
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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Macro environment
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Internal environment
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External environment
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Operating environment
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Detailed explanation-1: -The internal environment of business refers to all the factors or forces that have a more direct impact on the daily activities of the company. The main factors in the internal environment are: customers, suppliers, competitors, shareholders, financial institutions, and employees.
Detailed explanation-2: -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-3: -Internal environmental factors are events that occur within an organization. External environmental factors are events that take place outside of the organization and are harder to predict and control.
Detailed explanation-4: -Value system. Vision, mission and objectives. Organisational structure. Corporate culture. Management style. Human resources. Labour unions. Physical and technological resources. 27-Feb-2023