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Questions
What is meant by business environment?
What do you understand by business environment?
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Solution
Business environment refers to all the external forces including economic, political, social, technological and legal that affect the performance of a business organisation. It is the sum total of all the individuals, the control of a business enterprise but has the power to affect its performance.
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Reason (R): Business environment is dynamic, i.e., it keeps on changing in consumer preferences.
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