Explain with examples, the various dimensions of business environment.
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1)Political environment;it comprises of political conditions such as peace & stability,law & order.Example,a situation of political unrest such as frequent change in the ruling government implies a change in the rules & policies of the government regarding production & manufacturing.
2)Technological environment; which comprises of technological changes & improvements.i.e introduction of computers,internet have changed the way organisation works today.
3)Legal environment;It refers to the legislation of rules passed by the government such as Companies act,trade unions act.
4)Economic environment;comprises of economic variables such as interest rates,income,stock market indices that affect the functioning of the enterprises.
5)Social environment;refers to social forces such as customs,traditions,social values & social trends.
2)Technological environment; which comprises of technological changes & improvements.i.e introduction of computers,internet have changed the way organisation works today.
3)Legal environment;It refers to the legislation of rules passed by the government such as Companies act,trade unions act.
4)Economic environment;comprises of economic variables such as interest rates,income,stock market indices that affect the functioning of the enterprises.
5)Social environment;refers to social forces such as customs,traditions,social values & social trends.
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