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What Do You Mean By Business Environment And Economic Environment Respectively? |
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Answer» Business environment refers to the totality of all the FACTORS which are external and out of CONTROL of an individual, business enterprise and their management. The most important factors are socio-ECONOMIC, technological, suppliers, COMPETITORS and government. The economic conditions such as, the nature of the economy, the stage of development of the economy, economic resources, the level of income, the DISTRIBUTION of income and assets etc., all mean economic environment. Business environment refers to the totality of all the factors which are external and out of control of an individual, business enterprise and their management. The most important factors are socio-economic, technological, suppliers, competitors and government. The economic conditions such as, the nature of the economy, the stage of development of the economy, economic resources, the level of income, the distribution of income and assets etc., all mean economic environment. |
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