Question

what is meant by business environment?
which factors give rise to opportunities and threats?​

Answer 1

Answer:

The term 'business environment' connotes external forces, factors and institutions that are beyond the control of the business and they affect the functioning of a business enterprise. These include customers, competitors, suppliers, government, and the social, political, legal and technological factors etc.

Opportunities can result from changes within the market, customer lifestyle changes, advances in technology, or new production methods. Threats are external factors that are beyond your control and can originate in the supply chain, from changes in consumer behavior, from the economic cycle, etc.

Explanation:

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