Tag Archives | Business Environment

Dimensions of Business Environment that Influences the Performance of Many Firms

Dimensions of business environment that influences the performance of many firms are: 1. Economic Environment 2. Social Environment 3. Technological Environment 4. Political Environment 5. Legal Environment! The Dimensions or the factors constituting the business environment include political, social, technological, legal and economic factors which are considered important for taking decisions and for improving the operations of a firm. [...]

By |2014-02-04T17:10:52+05:30February 3, 2014|Business|Comments Off on Dimensions of Business Environment that Influences the Performance of Many Firms
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Characteristics of Business Environment (7 Characteristics)

Seven essential characteristics of business environment are: 1. Totality of External Forces 2. Specific and General Forces 3. Inter-Relatedness 4. Dynamic Nature 5. Uncertainty 6. Complexity 7. Relativity! 1. Totality of External Forces: Business Environment is the sum total of all the external factors that influence the functioning of the business. […]

By |2014-02-04T17:10:52+05:30February 3, 2014|Business Environment|Comments Off on Characteristics of Business Environment (7 Characteristics)
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Understanding the Importance of Business Environment

Points that would help us to understand the importance of business environment are: 1. Enabling the identification of opportunities and getting the first mover advantage 2. Helping in the identification of threats and early warning signals or Radar effect 3. Tapping useful resources 4. Coping with the rapid changes 5. Assisting in planning and policy formulation 6. Improvement in performance [...]

By |2014-02-04T17:10:52+05:30February 3, 2014|Business Environment|Comments Off on Understanding the Importance of Business Environment
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