Welcome Back to our new series of business learning.
In this article we will understand business environment & Its Feature.
What are the features of the business environment.
1. Dynamic Nature: – The components of the business environment are constantly changing. It has an impact on its business. That is why it is said that business environments are dynamic.
2. Uncertainty: – Business environment is uncertain and it is difficult for businessmen to predict these uncertainties.
3. Complexity: business environment is composed of many components. All these components are related to each other. That is why it is very difficult for business to face them.
4. Inter Dependence: – Various components of business environment are related to each other.
5. Totality Of External Forces: – The business environment is the sum of all the powers that are available outside the business and on which there is no control of business. It is a group of many, not many powers, so their nature is of complete nature.
What is the limitation of business environment?
1. Internal Environment Feature.
Under the internal environment, all those components are included which affect the business and are within the business itself.
These components are often like this:
- Objectives Of Business
- Policy of Business
- Production Capacity Of Business
- Participation In Management
- Management Information System
2. External Environment Feature
In the external environment of the business, those components are incorporated which are outside the business and distribute the business.
The external environment is divided into two parts:
- Functional environment
- General environment