Home | | Commerce 12th Std | Environmental Factors

Business Environment - Environmental Factors | 12th Commerce : Chapter 19 : Business Environment : Environmental Factors

Chapter: 12th Commerce : Chapter 19 : Business Environment : Environmental Factors

Environmental Factors

A business is an integral part of the social system.

BUSINESS  ENVIRONMENT

ENVIRONMENTAL FACTORS


A business is an integral part of the social system. The sum total of all factors both internal and external which has an impact on the functioning of a business can be termed as business environment. The aggregate of all factors, forces and institutions which are external to and beyond the control of an individual business enterprise but which exercises a significant influence on the functioning and growth of individual enterprises business environment.

It is dynamic in nature since it keeps changing. Therefore any strategic decision relating to a business can be taken only after scanning the environment for a SWOT analysis of the strengths, weaknesses, opportunities and threats. The internal environment which is controllable yields the strengths and weaknesses of an organisation while the external environment which is uncontrollable relates to two factors namely opportunities and threats. The understanding of business environment is essential for taking important decisions, and ensuring success.

Tags : Business Environment , 12th Commerce : Chapter 19 : Business Environment : Environmental Factors
Study Material, Lecturing Notes, Assignment, Reference, Wiki description explanation, brief detail
12th Commerce : Chapter 19 : Business Environment : Environmental Factors : Environmental Factors | Business Environment


Privacy Policy, Terms and Conditions, DMCA Policy and Compliant

Copyright © 2018-2024 BrainKart.com; All Rights Reserved. Developed by Therithal info, Chennai.