Five festures of business environment
Answers
Answer:
The main features of business environment are:
All the external forces: Business Environment includes all the forces, institutions and factors which directly or indirectly affect the Business Organizations.
Specific and general forces
Inter-relation
Uncertainty
Dynamic
Complex
Relativity
Explanation:
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ANSWER
Features of Business Environment
Dynamic: The environment in which the business operates changes continuously because there is a wide variety of factors that exist in the environment, causing it to change its shape and character.
Complex: There are many forces, events and conditions that constitute business environment, arising from various sources. So, it is a bit difficult to understand the relative influence of a particular factor, on the operation of the organisation.
Uncertain: Uncertainty is an inherent characteristic of business environment because no one can predict what is going to happen in future.
Multi-faceted: A single change in the business environment, can be viewed differently by different observers because their perceptions vary.
Far-reaching Impact: The survival, growth and profitability, of a business enterprise, depends largely on the environment in which it exists. A small change in the environment has a far-reaching impact on the organisation in different ways.