Explain any three features of business environment.

1.	Explain any three features of business environment.
Answer» All the external forces : Business Environment includes all the forces, institutions and factors which directly or indirectly affect the business organizations. Specific and general forces : Business environment includes specific forces such as investors, customers, competitors and suppliers. Non-human or general forces are Social, Legal, Technological. Political, etc. which affect the business indirectly. Inter-relation : All the forces and factors of business environment are inter-related to each other. For example with inclination of youth towards western culture, the demand for fast food is increasing. Uncertainty: It is very difficult to predict the changes of business environment. As environment is changing very fast for example in IT. fashion industry frequent and fast changes are taking place.

Answer»

All the external forces : Business Environment includes all the forces, institutions and factors which directly or indirectly affect the business organizations.

Specific and general forces : Business environment includes specific forces such as investors, customers, competitors and suppliers. Non-human or general forces are Social, Legal, Technological. Political, etc. which affect the business indirectly.

Inter-relation : All the forces and factors of business environment are inter-related to each other.

For example with inclination of youth towards western culture, the demand for fast food is increasing.

Uncertainty: It is very difficult to predict the changes of business environment. As environment is changing very fast for example in IT. fashion industry frequent and fast changes are taking place.

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