Question

Discuss the influence of economic environment on business

Answer 1

Economic environment is the main component of any business. It has great affect on the working of the people. It refers to the generation and distribution of wealth in social set up. But whenever there is change in economic policies then it affects a lot on the working of the business. There are many factors that are related to economic environment of the business. such as income, policies, patterns, growth etc... All these factors cause great affect on the business and business condition makes flexible every time., which leads poor results of the business So there is a need of best management in the organisation to cope up this problems..

Answer 2

The most important element of any business is the economic climate. It significantly affects how well people work. The creation and distribution of wealth within a social structure are discussed. However, if there is a change in economic policies, it has a significant impact on how businesses operate. The business's economic environment is influenced by a variety of elements, including income, policies, growth trends, and more. Each of these issues has a significant impact on the firm, which causes it to be unstable at all times and produce subpar outcomes. Therefore, the organisation needs the best management possible to handle these issues.