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Business Environment
What are the components of internal environment? Write any six.
Internal environment includes all those factors which influence business and which are present within the business itself. These factors are usually under the control of business. The study of internal factors is really important for the study of internal environment. These factors are:
(i) Objectives of Business,
(ii) Policies of Business,
(iii) Production Capacity,
(iv) Production Methods,
(v) Management Information System,
(vi) Participation in Management.
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How would you characterise business environment? Explain, with examples, the difference between general and specific environment.
Explain, with examples, the various dimensions of business enviornment.
How is business environment helpful in the ‘improvement of performance’?
How ‘first mover advantage’ is made available by the business environment? Give an example.
Explain ‘Dynamic nature’ and ‘Uncertainty’ as features of Business Environment.
Business environment includes both 'specific and general forces'. List any four specific forces.
Why is business environment known as ‘totality of external forces’?
‘Nothing can be said with any amount of certainty about the factors of the business environment.’ Why?
Is the effect of various factors of business environment on business can be recognised separately?
Explain ‘Relativity’ as one of the characteristics of business environment.
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