Which environment is beyond the control of any business?
Answers
Answer:
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 business enterprises. These include customers, competitors, suppliers, government, and the social, political, legal and technological factors etc.
Answer:
External environment is beyond the control of any business.
Explanation:
The term "external environment" describes an environment that a person employed by a corporation cannot influence. The phrase "business environment" refers to institutions, pressures, and other outside elements that are outside the control of the firm and have an impact on how it operates. Customers, rivals, suppliers, the government, as well as social, political, legal, and technological issues, among others, are among these.
Economic, political and legal, demographic, social, competitive, international, and technological sectors make up the external business environment. Managers need to be aware of how the environment is changing and how it is affecting the company.
External environment types:
- The elements that directly affect a company's operations make up the micro environment.
- The macro environment is made up of broad variables over which an organization often has no control.
- The ability of the business to adapt will determine its success.