elements of business environment. with full explaination
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The business environmental factors may be classified into different types. There are broadly two types of environment that affects the organisation, internal environment and external environment.
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Their are two types of elements of a business environment which include the internal enviornment and the second is external enviornment. Than the external enviornment is further divided into micro environment and macro enviornment.
Internal enviornment is the enviornment which lies within the business. Internal factors of the internal enviornment are known as controlled factors which are easy to control. Internal factors includes plans and policies, human and financial resources, corporate image, plants and machinery etc.
Where as external enviornment is the enviornment with in which a business operates. The external factors of the enviornment will affect the business decisions. Enviornment which lies outside the business is known as external enviornment. They are unpredictable and uncontrollable.
External enviornment is further divided into two:
1) micro environment
Consist of companies immediate environment which affects the company performance which include
Customer, competitors, suppliers, society and the market intermediaries etc.
2) macro enviornment
It consist of large societal factors which affects the business performance hence macro enviornment is uncontrollable. It include demographic enviornment, technological enviornment, economic environment, political enviornment, cultural enviornment, natural environment and legal enviornment .
Internal enviornment is the enviornment which lies within the business. Internal factors of the internal enviornment are known as controlled factors which are easy to control. Internal factors includes plans and policies, human and financial resources, corporate image, plants and machinery etc.
Where as external enviornment is the enviornment with in which a business operates. The external factors of the enviornment will affect the business decisions. Enviornment which lies outside the business is known as external enviornment. They are unpredictable and uncontrollable.
External enviornment is further divided into two:
1) micro environment
Consist of companies immediate environment which affects the company performance which include
Customer, competitors, suppliers, society and the market intermediaries etc.
2) macro enviornment
It consist of large societal factors which affects the business performance hence macro enviornment is uncontrollable. It include demographic enviornment, technological enviornment, economic environment, political enviornment, cultural enviornment, natural environment and legal enviornment .
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