Describe any two components of business environment.
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⛤⛤☛1ST..Internal environment includes all those factors which influence business and which are present within the business itself. These factors are usually under the control of business. The study of internal factors is really important for the study of internal environment.
⛤⛤☺External environment includes all those factors which influence business and exist outside the business. Business has no control over these factors. The information about these factors is important for the study of the external environment.
Micro environment means that environment which includes those factors with which business is closely related. These factors influence every industrial unit differently. These factors are as under:
⛤⛤☛☺(i) Customers (ii) Suppliers (iii) Competitors
⛤⛤☛1ST..Internal environment includes all those factors which influence business and which are present within the business itself. These factors are usually under the control of business. The study of internal factors is really important for the study of internal environment.
⛤⛤☺External environment includes all those factors which influence business and exist outside the business. Business has no control over these factors. The information about these factors is important for the study of the external environment.
Micro environment means that environment which includes those factors with which business is closely related. These factors influence every industrial unit differently. These factors are as under:
⛤⛤☛☺(i) Customers (ii) Suppliers (iii) Competitors
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