Question

What do you mean by internal and external environment of business?

Answer 1

Answer:

Financial resources represent financial strength of the company. ... Technological resources represent the technical know-how used to manufacture goods and services. Internal environment consists of controllable factors that can be modified according to needs of the external environment.

Answer 2

Internal Environment means the factors which a business has acquired or may acquire according to its needs and capacity. These factors determine the level of activity which may achieve.

External Environment is also as important as internal. These factors include customers, competitors, governmental agencies, society in general etc.