How is business environment helpful in the ‘improvement of performance’?
In every organisation the study of business environment has an important role as far as its performance is concerned. Those organisations which keep a constant eye on it and analyse it correctly definitely win the race and remain alive for a long time. On the other hand, those organisations which do not care about it cannot remain steadfast in the market, are likely to close down. Therefore, it can safely be asserted that an organisation can improve its present as well as future with the help of the study of business environment.
Why is business environment known as ‘totality of external forces’?
How ‘first mover advantage’ is made available by the business environment? Give an example.
Business environment includes both 'specific and general forces'. List any four specific forces.
‘Nothing can be said with any amount of certainty about the factors of the business environment.’ Why?
