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Question
What Is the Business Environment and Its Elements?
What Is the Business Environment and Its Elements?
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Solution
Business environment is the total or aggregate of all the internal and external factors that influence the business. These can include employees, suppliers, customers, government etc.
All the internal and external forces directly or indirectly affect the way a business functions.
The elements of a business environment can be mentioned as follows:
- Political
- Economic
- Social
- Technological
- Legal
- Environmental
Stay tuned to BYJU’S for more such questions and answers on various commerce topics.
Business environment is the total or aggregate of all the internal and external factors that influence the business. These can include employees, suppliers, customers, government etc.
All the internal and external forces directly or indirectly affect the way a business functions.
The elements of a business environment can be mentioned as follows:
- Political
- Economic
- Social
- Technological
- Legal
- Environmental
Stay tuned to BYJU’S for more such questions and answers on various commerce topics.
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