English

Dimensions of Business Environment

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Estimated time: 7 minutes
CBSE: Class 12
Maharashtra State Board: Class 11

Introduction

The business environment encompasses all factors, both internal and external to a business, that can impact its performance, operations, and growth. These factors can be either controllable or uncontrollable.

CBSE: Class 12
Maharashtra State Board: Class 11

Flow Chart

CBSE: Class 12

Key Points: Dimensions of Business Environment

  • Business environment = internal (your control) + external (not your control)
  • Internal = people, resources, organizational structure
  • External = economy, law, society, technology, nature, global issues
  • Companies must monitor and adapt to both internal and external changes to survive.
  • Regular changes in technology, society, and laws can quickly impact any business.

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