what do you mean by business enviorment ? what are factors affecting f

1.	what do you mean by business enviorment ? what are factors affecting for business decisions 15 marks
Answer» Answer: Business ENVIRONMENT signifies the collection of individuals, entities and several significant internal and external factors which control the productivity and performance of a business. An environment determines the growth, profitability and even longevity of a business and gets altered by them as well. Explanation: There are several important factors that INFLUENCE decision making. Significant factors include past EXPERIENCES, a VARIETY of cognitive biases, an escalation of commitment and sunk outcomes, individual differences, including age and socioeconomic status, and a BELIEF in personal relevance.///// The approach taken to making business decisions is influenced by a variety of factors, the key ones of which are outlined below: •Business Objectives / Budgets. •Organisational Structure - Who Makes the Decisions? •Attitude to Risk. •Availability & Reliability of Data. •The External Environment.

what do you mean by business enviorment ? what are factors affecting for business decisions 15 marks

Answer»

Answer:

Explanation:

The approach taken to making business decisions is influenced by a variety of factors, the key ones of which are outlined below:

•Business Objectives / Budgets.

•Organisational Structure - Who Makes the Decisions?

•Attitude to Risk.

•Availability & Reliability of Data.

•The External Environment.