What Is Business Environment? - Definition and Factors
Businesses do not work in a vacuum; They work in an environment In this lesson, you will learn about the business environment, what is included in this is a brief quiz lesson.
Business environment determined
Business environment is the sum of all external and internal factors that affect business. You should keep in mind that external factors and internal factors can affect each other and work together to influence a business. For example, a health and safety rule is an external factor that affects the internal environment of business operations. In addition, some external factors are beyond your control. These factors are often called external obstacles. Take a look at some important environmental factors.
external factor
Political factors are governmental activities and political situations that can affect your business. Examples include law, rule, tariff and other trade barriers, war and social unrest
Comprehensive economic factors are factors that affect the entire economy, not your business. Examples include things like interest rates, unemployment rates, currency exchange rates, consumer confidence, consumer discretionary income, consumer savings rate, recession and depression.
Microeconomic factors are factors that can affect your business, such as market size, demand, supply, relationships with suppliers and your distribution chain, such as retail stores that sell your products, and the number and strength of your competition
Businesses do not work in a vacuum; They work in an environment In this lesson, you will learn about the business environment, what is included in this is a brief quiz lesson.
Business environment determined
Business environment is the sum of all external and internal factors that affect business. You should keep in mind that external factors and internal factors can affect each other and work together to influence a business. For example, a health and safety rule is an external factor that affects the internal environment of business operations. In addition, some external factors are beyond your control. These factors are often called external obstacles. Take a look at some important environmental factors.
external factor
Political factors are governmental activities and political situations that can affect your business. Examples include law, rule, tariff and other trade barriers, war and social unrest
Comprehensive economic factors are factors that affect the entire economy, not your business. Examples include things like interest rates, unemployment rates, currency exchange rates, consumer confidence, consumer discretionary income, consumer savings rate, recession and depression.
Microeconomic factors are factors that can affect your business, such as market size, demand, supply, relationships with suppliers and your distribution chain, such as retail stores that sell your products, and the number and strength of your competition
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