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What are the 3 main components of business environment?

Updated: 9/13/2023
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Mahachitinashe

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14y ago

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People, Machines, Products/Services. Of these 3 components people are the most vital aspect of your business. Without Machines, people can find a way to produce products and services to create a revenue. Without people, you are just out of luck!

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Tax environment is composed of the factors that are directly related to the competitive position of a business. It consists of different stakeholders who have direct or indirect interest in the performance of the business.The task environment consists of all the external factors that affect the company. #The components of task environment are given below: Customer Suppliers 3.competitors 4.creditors 5.Distributor 6.Media Government 8.Group pressure


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1.Demographic factors like the population composition,size and location does affect the business environment. 2.Political interventions and environment one way or the other largely affects the business environment. 3.The Legal environment also affects the business environment. 4. Economic factors like, Inflation, interest rate on loans, exchange rate systems.


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