Easy Finance Facilities on cars by different financers and banks have considerably increased the demand for cars. Identify the type of environment highlighted here
Answers
easy finance and the actu
Answer:
Explanation:
Business environment is the sum total of all individuals, institutions and other forces like customers, competitors, suppliers, distributors, industry trends, substitutes, regulations, government activities. Social and cultural factors that are outside the control of the business enterprise but may affect its performance. The main features of business environment are:
Totality of external forces: Business environment is the sum total of all external forces outside the control of a business.
Consists of specific and general forces: Specific forces are those, which affect the individual enterprises, viz competitors, customers, investors, and suppliers.Whereas general forces have an impact on all business enterprises. The general forces comprise of social, political, legal, economic and technological forces.
Uncertainty: Business environment is largely uncertain, as it is very difficult to predict future happenings, especially when changes takes place at a fast pace.
Complexity: Business environment is complex, as to understand it in totality, e.g. It becomes difficult to know the extent of relative impact of social, economic political. Legal and technological factors on change in demand of a product.
Dynamic: Business environment is highly flexible and keep changing. It is not static or rigid that is why it is essential to monitor and scan the business environment continuously.