Question

what is the meant by ‘ Business environment ’? state any three points of its importance .?​

Answer 1

Answer:

• Business Environment: It means the such total of all individuals, institutions and other forces that are outside the control of business enterprise but that may affect its performance. Importance: (i) It helps to identify opportunities and getting the first mover advantage instead of losing them to the competitors.

Answer 2

Answer:

Meaning of Business Environment:

• The word 'business environment' indicates the aggregate total of all people, organisations and other forces that are outside the power of industry but that may affect its production.
• The term business environment means the sum total of all individuals, institutions and other forces that are outside the control of a business enterprise but that may effect its performance.
• • The economic, social, political, technological and other forces, which operate outside a.