What is Business Environment?
Business Environment means the total of all individuals, institutions, and other forces that are outside the control of a business enterprise, but that may affect its performance. In other words, a business environment can be defined as all those conditions and forces under which a business is operated. These forces affect the working of business and it has to deal effectively with them. It encompasses the climate or the set of conditions: economic, social, political, or institutional, in which business operations are conducted.
Table of Content
- Dimensions of Business Environment
- 1. Economic Environment
- 2. Social Environment
- 3. Technological Environment
- 4. Political Environment
- 5. Legal Environment