What is the business environment? Is it natural beauty of the environment or the beautiful lush green lawn in the courtyard of the business office? Or simply it is green surroundings of the business? All of the above are just the components of the business environment which means whatever lies inside or related-outside of the business – tangible or intangible – including its building, offices, furniture, fixtures, staff, clients, manufacturing process, sales, accounts, administration, top management and other such articles and factors. When you establish a business first of all: You set a purpose which is obviously to earn money. …Read more »
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Types of business are broadly two; one is internal business environment and other one is external business environment. Internal business environment All the factors inside a business including legal, financial, social, ethical, regulatory, managerial, administrative etc collectively develop internal business environment. Most of them are controllable and management easily manage them without any difficult or so much effort. However, their significance cannot be overlooked to run the affairs of business smoothly because if any of these factors turn negative it may impede the smooth functioning of the business.