Question

Very Short Answer Question:-
Enumerate the two categories of Business Environment and give the example of both.

Answer 1

Business environment can be classified into 2 categories:

1) Internal Environment:Internal environment of business includes physical assets, technological capabilities, human, financial and marketing resources, management structure, relationship among various constituents, goods, objectives and value system prevailing.

2) External Environment:External environment of business is composed of various organisations, institutions and forces operating outside the company, which exert influence individually and collectively as well on this environment. External environment of business is broadly classified into micro environment and macro environment.