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Question
Define Business Environment. State any of its features.
Define Business Environment. State any of its features.
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Solution
The term 'business environment' means the sum total of all individuals, institutions and other forces that are outside the control of a business enterprise but that may affect its performance.
Features of business environment:
(i) Totality of external forces
(ii) Specific and general forces
(iii) Inter relatedness
(iv) Uncertainty
(v) Complexity
(vi) Relativity
(vii) Dynamic nature
The term 'business environment' means the sum total of all individuals, institutions and other forces that are outside the control of a business enterprise but that may affect its performance.
Features of business environment:
(i) Totality of external forces
(ii) Specific and general forces
(iii) Inter relatedness
(iv) Uncertainty
(v) Complexity
(vi) Relativity
(vii) Dynamic nature
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