business studies chapter business environment
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Business environment as such is the total of all external forces which affect the organisation and operation of business
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Business Environment refers to the business deals, or operation taking place in the presence of outer world factors like Legal, Social, Economical, and Demographic. Basically, the Business environment is classified as internal and external.
Internal Business environment refers to the atmosphere of the business running inside the Organization.
Whereas,
The external business environment is the environment of the business it has to face while being in contact with the current market.
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