what do you mean by business enviorment ? what are factors affecting for business decision
Answers
Answer:
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.
Explanation:
The approach taken to making business decisions is influenced by a variety of factors, the key ones of which are outlined below:
Business Objectives / Budgets.
Organisational Structure - Who Makes the Decisions?
Attitude to Risk.
Availability & Reliability of Data.
The External Environment.
The term 'business environment' connotes external forces, factors and institutions that are beyond the control of the business and they affect the functioning of business enterprises. These include customers, competitors, suppliers, government, and the social, political, legal and technological factors etc
hope It's help you
Answer:
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. These factors affect the function of the company and how a company works directly or indirectly. Sum of these factors influences the companies or business organisations environment and situation.