Explain any four characteristics of business environment.

1.	Explain any four characteristics of business environment.
Answer» Characteristics of Business Environment: (i) Totality of all external forces affecting a business. (ii) Includes both general and specific forces. (iii) Inter-relatedness (iv) Dynamic nature (v) Uncertainty (vi) Complexity (vii) Relativity Detailed Answer: (i) Totality of all external forces affecting a business: It is aggregate of all things external to the business firms. (ii) Specific and general forces: Specific forces affects individual film directly, general forces effects indirectly. (iii) Inter-relatedness: Different elements of business environment are closely inter-related. (iv) Dynamic nature: It keeps on changing due to changes in its various components. (v) Uncertainity: It is very difficult to predict future happenings in business environment with accuracy. (vi) Complexity: It is relatively easier to understand in parts but difficult to grasp in totality. (vii) Relativity: It differs from country to country & region to region.

Answer»

Characteristics of Business Environment:

(i) Totality of all external forces affecting a business.

(ii) Includes both general and specific forces.

(iii) Inter-relatedness

(iv) Dynamic nature

(v) Uncertainty

(vi) Complexity

(vii) Relativity

Detailed Answer:

(i) Totality of all external forces affecting a business: It is aggregate of all things external to the business firms.

(ii) Specific and general forces: Specific forces affects individual film directly, general forces effects indirectly.

(iii) Inter-relatedness: Different elements of business environment are closely inter-related.

(iv) Dynamic nature: It keeps on changing due to changes in its various components.

(v) Uncertainity: It is very difficult to predict future happenings in business environment with accuracy.

(vi) Complexity: It is relatively easier to understand in parts but difficult to grasp in totality.

(vii) Relativity: It differs from country to country & region to region.

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