Question

How would you characterise business environment?​

Answer 1

hey!

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Features of business environment are:-

(i) Totality of External Forces:-

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Business environment is aggregative in nature as it is the sum total of all things external to business firms.

(ii) Inter- relatedness:-

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• Different elements of business environment are closely related to each other.

example:-

• increased awareness of health care have increased the demand for many health products.

(iii) Dynamic Nature:-

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• The business environment is highly dynamic. It keeps on changing. Sometimes there is a change in technology tastes and preference of consumer etc.

☆hope help.u!!☆

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Answer 2

Business environment refers to all the external forces such as economic, social, political, technological or legal that affects the performance of a business organisation. In other words, everything that is outside the purview of an organisation but affects its performance composes business environment.