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Business Environment

The document discusses the business environment, which encompasses the economic, social, political, and institutional conditions that influence business operations. It identifies the internal environment of a business firm, including its culture, resources, and management structure, as well as the external environment, including micro factors like customers, competitors and suppliers, and macro factors such as the political, economic, social and technological landscape. It also outlines strategies for businesses to monitor and respond to changes in their environment.

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Deepali Saluja
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106 views10 pages

Business Environment

The document discusses the business environment, which encompasses the economic, social, political, and institutional conditions that influence business operations. It identifies the internal environment of a business firm, including its culture, resources, and management structure, as well as the external environment, including micro factors like customers, competitors and suppliers, and macro factors such as the political, economic, social and technological landscape. It also outlines strategies for businesses to monitor and respond to changes in their environment.

Uploaded by

Deepali Saluja
Copyright
© Attribution Non-Commercial (BY-NC)
We take content rights seriously. If you suspect this is your content, claim it here.
Available Formats
Download as PPTX, PDF, TXT or read online on Scribd
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The environment in which all the business activities take place. Business environment encompasses the climate or set of conditions, Economic , social,political, or institutional in which business operations are conducted. (Arthur M.Weimer)

Aggregative Inter-related Relative Inter-temporal Uncertain Contextual

First mover advantage Strategy formulation

Early warning system Change agent Continuous learning

Customer focus

Public image

INTERNAL ENVIRONMEN T

EXTERNAL ENVIRONMENT

INTERNAL ENVIRONMENT

BUSINESS FIRM

EXTERNAL ENVIRONMEN T

culture Company image and brand equity


Mission and objectives

Human and other resources Top management structure

Power structure

MICRO ENVIRONMENT

MACRO ENVIRONMENT

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CUSTOMERS COMPETITION SUPPLIERS MARKETING INTERMEDIARIES FINANCIERS PUBLICS

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POLITICAL AND LEGAL ENVIRONMENT SOCIAL AND CULTURAL ENVIRONMENT ECONOMIC ENVIRONMENT TECHNOLOGICAL AND PHYSICAL ENVIRONMENT NATURAL ENVIRONMENT GLOBAL ENVIRONMENT

BUFFERING

LEVELLING
ANTICIPATION

RATIONING
DOMINATING

CHANGING

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