Question

Why do business enterlrise need business enviornment how it can be determine success or failure of the business

Answer 1

Answer:

Business environment brings both threats and opportunities to a business. Hence, understanding of environment helps the management in future planning and decision making. For example, competition increases with the entry of new firms in the market

A study of business environment is a great aid in ensuring survival and growth of the business enterprise amidst volatile and turbulent environmental factors (Volatile and turbulent factors are those which are likely to change suddenly and easily becoming dangerous).