The business environment is the set of factors that influence the behavior of an individual, group, or company. It includes the market conditions, competition, economic factors and political forces. The objectives of the business environment are:
- Identifying various business opportunities.
- Improving performance
- Provides a basis for rational decision making.
The business environment is constantly changing. In order to keep up with the pace, businesses need to adapt and evolve. The objectives of the business environment can be classified into two categories: 1) To provide a competitive advantage for the company; 2) To meet customer needs. 3) To provide assistance in planning
The business environment is a dynamic entity. It changes with time and society. There are different reasons why businesses exist and they vary from industry to industry. The objectives of the business environment can be classified into two major categories: 1) To create wealth, 2) To satisfy consumer needs 3) To solve social problems
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