Question

Explain five features of business environment in short

Answer 1

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the five features of business environment are


✳the environment around us should be intellectual.

✳it should be sincere.

✳the persons should awake about their works.

✳the jobs should be dinkrushed.

✳the maintenance should be prosperitive.✔


thanks☝

Answer 2

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➡️ The major features of business environment are as follows:

1. Environment is inseparable part of business:

Environment is an integral part of any business. Business cannot work without environment. Business requires good framework of legal, political, social, cultural and economic factors. Both business and environment have influence over each other.

They share a symbiotic relationship. Success of the business lies in understanding the environmental changes and adapting the business policies accordingly. There is a mutual interdependence between business and its environment. Business enterprises continuously interacts with its environment for taking inputs like raw materials, capital, labour, energy etc. and transform them into goods and services and then send them back to the environment.

2. Environment is Dynamic:

Business environment is dynamic in nature. No environment remains constant or static for a longer period of time. The government may change certain policies; there may be changes in consumer tastes, preferences etc. changes in technology also affect the business. Environmental forces influence business decisions. The surrounding of business enterprise that is constantly changing carries both opportunities and threats with them. The success of business depends upon alertness and adaptability with the changing environment.

3. Business lacks control over environment:

Business environment is a constantly changing process. Business lacks control over external environment. It cannot directly influence the changes in external environment. But it is possible to have influence over internal environment. Internal environment is controllable where as external environment is uncontrollable.

4. Internal and external factors:

The environment of business comprises of internal and external factors. Internal environment includes plans and policies, employees, business objectives etc. The external environment is again subdivided into micro factor and macro factor. Micro factor includes customers, suppliers, competitors, society etc. Macro factor comprise of social, economic, legal, technological and other factors, which are unpredictable and uncontrollable.

5. Environment is complex:

In the Business Environment, there are numerous complex situations in which one must understand in order to maximize the benefits of success. Modern business is more complex, flexible and highly un-predictable. The modern business has grown in size and scope and so is the environment. Any change in the environment can adversely affect the business organisation. Business environment is growing extremely complex due to government interventions and social consciousness.