what is business environment….
business environment means everything that affects the business is the business environment. To run the business, you must have great knowledge of the business environment. in this explanation, you know very well about the business environment. To achieve your goal you have to follow the business environment. In this complex world, you have to alert all about your competitors.
what is meant by business environment
what is business environment is the basic question for every businessmen. some people ask what is meant by business environment. it is like a business atmosphere and everything around the business. It is not only limited to clients it also depends on many factors.
factors affecting the business environment
- Customer
- Competitors
- Competitors action
- Customer nature
- Income of customer
- Investment
- Policies of government
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what is economic environment of business
what is business environment you know very well about this now we go into the next step in what is economic environment of business.
economic business environment means investment-related to business and all economic activity affected our business. this is an external factor of the business environment
The meaning of the economic environment of business is that whenever any factor increases or reduces the purchasing power of our customer, then it is called an economic factor.
list of factors affecting the economic environment are follows
- taxes 2. demand 3. income 4. behaviour of customer 5. inflation 6. employment.
This is just some example of what is economic environment of business. Many factors affect the economic environment. we can’t make the list of this activity exactly but with the economic behaviour of people and your capability to expand your business
what is political environment in business
now we understand what is business environment. so the business environment is also affect by political environment.
Political environment means that to run any business legally, it will have to follow the rules and regulations set by the law. If anyone violates the law, he will have to close his business as per law. A case may be filed against the businessman and he may have to pay a fine or even go to jail. So any businessman needs to understand his law well and carry forward his business accordingly.
Being a businessman, you should not violate the laws given by your government and it is very important to keep yourself updated about the updates of every single law related to your business at least.
the most important factor of the political environment is 1. taxation 2. employment law 3. political stability
now you understand the what is political environment in business…
what is external business environment
there is a big difference between what is business environment and what is external business environment…..the factors that are not under the control of the owner of the business are called external factors.
Compitetitive-We have no control over the decisions of our competitive businessmen.
political – Political means that we do not have any control over any government policy, we have to put our business according to them.
technology – This can be a big problem for any businessman because according to technology, every businessman is not able to get enough of his money at that time to adopt that new technology. that technology change may be good for them or may be bad for them. but not for every new technology needs to be for you.
economic factor – You can take your business forward as per your capital or loan from banks and there are many options to take money for your business growth. you can take help of people but you can invest your capital as per your capability.
what is external business environment …..is not a small issue for any businessman. You have to take care of every small change related to your business. you do not need to every technology change applied on your business because this depends on your investment and the process of your business if you need to change the technology then you have to change
otherwise you did not change the technology. To change the technology of business, the first thing that is determined is capital, second is labor. If it has close capital investment, then it is capable of adopting any new technology quickly. If its process is labor technique then maybe they face many difficulties in changing the new technology. Before adopting any technique, any businessman will have to think many times whether that technique is suitable for him to use it. A lot of details will be required to know which details will help him to decide whether that technique should be adopted or not.
what is the nature of business environment
Dynamic – means change very quickly
complex – Our business face many complexities because there is no single competition to survive in the business. Paying attention to the speed of all competitions is called complexities.
uncertain- Uncertain means that anything can happen at any time in any business.
Multifaceted – Multifaceted means that they have to face a lot of difficulties, this is the procedure to take their business forward.
this is the basic nature of business environment..
we discuss in this ..what is business environment…. what is meant by business environment..what is political environment in business
what is external business or what is the nature of business environment..hope so you understand nd this basic term from this explanation
if you have any problem and want to know more about this than contact with us Shivani Saxean..
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Conclusion
According to us , there is no work which is impossible in this world related to growth your business but now, the working processing is different in this changing world because every business needs to contact not particular area for their growth . They have to connect with whole world for their successful business and their growths .
Digi majestic services
- Help in find your mistakes and also correct them.
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- Help to connect with the world not a particular area.
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