What is the difference between general environment and industry environment?

Answer 1

The general environment are the factors, conditions (such as legal, social and political situations) affecting people in an industry, It describes how society can affect a business or industry in general. These can be government regulations on trade practices,employment and taxation or even the economic climate: whether consumers have the purchasing power and willingness to buy products and services.

WHILE

The Industry enviroment

describes all conditions that can affect a business within the strict boundaries of a financial sector. It encompasses "Porter's Five Forces," such as rivalry between the industry's firms, the threat of new entrants, the threat of substitute products, the bargaining power of customers and the bargaining power of suppliers.

Jerry NA god

Answer 2

The industry and general environment is a term used by economists to describe financial conditions of a specific sector. The differences between the two depends on scale and the universality.