Seminar on Business Environment


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Introduction

Business environment refers to those aspects of the surroundings of business enterprise which have influence on the functioning of business.
Definition:-
Business environment is the climate or set of conditions- economic,social,political,or institutional in which business operations are conducted.

Features

Business environment is the sum total of all factors external to the business firm and that greatly influence their functioning.
It covers factors and forces like customers, competitors, suppliers, government, and the social, cultural, political, technological and legal conditions.
The business environment is dynamic in nature, that means, it keeps on changing.
Business Environment differs from place to place, region to region and country tocountry.

Internal Environment

Internal environment include internal factors of the business which can be controlled by business. It refers to environment within the organisation. It includes objectives of business managerial policies, different departments of the organisation, labour management relationship etc.