Critical element of political environment
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The laws which are passed by the government for business operation is called legal environment.It decides the limits for business operations. Examples are: Income Tax Act, Companies Act, etc.
Political Environment: It includes the government action which affects business operations. for example change in government brings change in rules and policies.
Political Environment: It includes the government action which affects business operations. for example change in government brings change in rules and policies.
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A critical element of the political environment:
- There are six components such as geographical, fiscal, physical, technical, political-legal and social-cultural. Government actions that affect a company's or business' operations.
- Such acts may take place at the local, state, national or international levels. Company owners and managers pay close attention to the political environment and determine how their company will be impacted by government actions. It includes policies and characteristics of political parties.
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