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What are the Main elements that make up the business environment?
Wiki User
∙ 11y ago
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
Wiki User
∙ 13y ago
Wiki User
∙ 9y agoSome elements included in a business environment are the business, its competitors, government, customers and suppliers. All of these elements affect the environment.
Wiki User
∙ 9y agoThese would be the customers of the business. If the customers are not happy, the business will have a lot of trouble making money.
Wiki User
∙ 11y agosocial environment
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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.
List and explain briefly 5 element of external business environment of business?
Five elements to an external business environment include the political climate, competition, government regulations, changes in the economy, and industry changes. External environment business elements can be summarized as being unpredictable. Elements include the political climate or political changes that could affect how a business operates. How a business handles threats from their competition. An organization cannot control their competition and therefore they may have to adjust their business model in order to stay competitive. Another external element is adjusting and dealing with government regulations. Businesses need to make sure they are compliant with regulations and laws. Compliance is important because it can assist in avoiding damage or threats to their business profits and operation. For example, being fined for not being compliant with government regulations is a possible threat. Depending on the industry, another element is the state of the economy. Changes in the economy could include inflation and interest rates rising. Both can affect how consumers frequent certain types of businesses or how industries are affected economically.
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.
Components of external business environment?
Components of an external business environment include, competitors and government regulations. Both of these factors can make or break a business.
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
Elements make up the physical environment of the community?
human, plants and animals
What are the elements that makes up the physical environment in the community?
In terms of Science, there are five physical elements that make up the environment in a community. These five elements include: air, soil, water, solar energy, and flora & fauna.
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 elements make up fireworks?
Carbon, Oxygen, Nitrogen, Potassium and Sulfur are the elements in the main ingredients.
Which two blocks of the periodic table make up the main - group elements?
Main group elements include elements (except hydrogen) in groups 1 and 2 (s-block), and groups 13 to 18 (p-block).
