FUNDAMENTALS OF BUSINESS ENVIRONMENT (Volume 1)
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In current circumstances, the business operates in a turbulent environment. Internal and external factors affect the market. Internal factors include the vision and mission of the organization and other internal mechanisms of the organization. On the other hand, external factors are the ones that lie beyond the control of the business and impact the organizations immensely in operations.The external environment relates to outsiders, such as suppliers, customers, creditors, employees, Government, etc. For a business organization to achieve success, it is essential to go hand in hand, both with ...
In current circumstances, the business operates in a turbulent environment. Internal and external factors affect the market. Internal factors include the vision and mission of the organization and other internal mechanisms of the organization. On the other hand, external factors are the ones that lie beyond the control of the business and impact the organizations immensely in operations.The external environment relates to outsiders, such as suppliers, customers, creditors, employees, Government, etc. For a business organization to achieve success, it is essential to go hand in hand, both with internal as well as external factors.Thus, it is necessary to study the environment in which the business operates. By knowing the environmental impact over a business, the entrepreneur may make decisions in a way that is at par for the smooth running of the business.Since the progress of the organization depends upon all factors, and the enterprises are required to deal with them in a nascent manner, this lesson will provide fundamental insight into such a business environment.
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