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Internal component of business enviorment consists of Resourses, Capabilities, Core Competencies and Strategic competitiveness withing any organisation.
Market environment consist of all factors that in one way or another affect or affected by the organization desicion.
there are external and internal factors.
- Internal factor , these involve (5M's)
- Management
- Manpower
- machine
- material and
- money.
- External factors , these include
Macro factor and micro factors.
Macro factors are the one that affect the organization indirectly, these are (pestel)
- Political
- enviroment
- socia-cultural
- technological and
- Ecological
- leagal
while micro factors are those which affect the organization directly it involve
- customers
- competitors
- suppliers and
- public
What else can I help you with?
State the importance of political environment in business?
The importance of political environment in a business setting is the regulation of the business. Sometimes the government needs to regulate a business to make sure all customers of that business are treated fairly. Regulations are also in place to make sure the business pays appropriate taxes and obeys government regulations that protect the environment.
Why is the environment important to business?
The environment is important to business because on a daily basis we interact and live in an around it and what ever decisions we make will affect us within the environment whether it is positive or negative.
What is Nature and scope of business environment?
Every business environment has a different nature and scope. External environmental factors can help or harm the organization. For example, a bottled water company in a hot climate will be more successful.
What are forces and factors that make up the internal environment of a business?
The internal environment of a business encompasses forces and factors that are directly controlled by the organization, including its organizational structure, culture, management, human resources, and operational processes. These elements influence the effectiveness and efficiency of business operations. Additionally, internal resources such as financial assets, technology, and capabilities play a crucial role in shaping the company's strategic direction and overall performance. Understanding these factors is essential for effective decision-making and achieving business objectives.
What is the main aim of a business producing good and services in a market economy?
To make profits
What groups make up the main block elements?
The s and p blocks make up the main-group elements, which are also known as representative elements.
What three main elements make organisms?
Carbon, hydrogen, and oxygen are the three main elements that make up living things.
Explain how the environment in which a business operates impacts upon?
The business environment impacts a business because managers have to make decisions based on what is going on around them. If the environment is fiercely competitive, then the business would have to respond appropriately.
State the importance of political environment in business?
The importance of political environment in a business setting is the regulation of the business. Sometimes the government needs to regulate a business to make sure all customers of that business are treated fairly. Regulations are also in place to make sure the business pays appropriate taxes and obeys government regulations that protect the environment.
What are the elements of nature which make up and influence weather?
the troposphere and the environment
What is the main objective of any business?
To make money.
What is he main objective of any business?
To make money.
What two elements make up crude oil?
Carbon and hydrogen are the two main elements that make up crude oil.
Elements make up the physical environment of the community?
human, plants and animals
Why is the environment important to business?
The environment is important to business because on a daily basis we interact and live in an around it and what ever decisions we make will affect us within the environment whether it is positive or negative.
What type of projects you can make in business studies class12 cbse board?
Here is an example: Business environment effect of change on technological environment on the behaviour of employee.
What are the names of 2 elements used to make computer chips?
The two main elements used to make computer chips are germanium and silicon.
