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11th Class Chapter No 1 - Business Environment in Business for ISC

Concept of Business Environment

Business environment refers to sum total of all individuals, institutions and forces that lie outside a business enterprise but may influence its functioning and performance.

Business environment is a combination of internal and external factors that influence a company’s operations. The business can include factors such as ; clients, suppliers; its competition and owners; improvements in technology; Government laws and activities; and market, social and economic trends etc.

Importance of Business Environment:

  1. First Mover Advantage:
  2. Early Warning Signal
  3. Customer Focus:
  4. Strategy Formulation:
  5. Coping with Change:
  6. Public Image:
  7. Continuous Learning
Posted in 11th on July 27 2020 at 09:22 AM

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