Question

The external environment of a business includes which of the following sets of elements?

Options

• Resources, unions, and organizational structure

• Shareholders, managers, employees, unions

• People, resources, organizational structure

• Economy, law, society, technology, nature, global issues

Answer 1

The external environment (not in the firm's control) comprises the economy, law, society, technology, nature, and global issues. People, resources, and organizational structure belong to the internal environment.