Meaning of business environment
the environment which is conect external as well as internal factors
which are direct affect their business organisation and operations
Answers
Definition of Business Environment is sum or collection of all internal and external factors such as employees, customers needs and expectations, supply and demand, management, clients, suppliers, owners, activities by government, innovation in technology, social trends, market trends, economic changes, etc.
Answer:
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Explanation:
External: The Economy
In a bad economy, even a well-run business may not be able to survive. If customers lose their jobs or take jobs that can barely support them, they'll spend less on sports, recreation, gifts, luxury goods and new cars. High interest rates on credit cards can discourage customers from spending. You can't control the economy, but understanding it can help you spot threats and opportunities.
Internal: Employees and Managers
Unless you're a one-person show, your employees are a major part of your company's internal environment. Your employees have to be good at their jobs, whether it's writing code or selling products to strangers. Managers have to be good at handling lower-level employees and overseeing other parts of the internal environment. Even if everyone's capable and talented, internal politics and conflicts can wreck a good company.