The BUSINESS

ENVIORNMENT

Rajiv Kumar

BUSINESS ENVIRONMENT

 The word Business Environment is a combination of the words business+ Environment . Let us discuss the meaning of business and environment.

• Meaning of business-> business includes all activities connected with production ,trade banking ,insurance finance, agency , advertising ,packaging , and numerous other related activities.

Meaning of environment:->environment refers to all external forces which have a bearing on the functioning of business.

Internal Environment

    Any business has certain vision, mission and objectives and a strategy to achieve them.

• Vision• Mission• Objectives• Management Structure• Human Resources• Financial Factors• Company Image and Brand Equity

External Environment

• Two TypesMicro EnvironmentConsists of actors in the company’s immediate environment, that affects the performance of the company.

Also known as task environment and operating environment• Include• The suppliers• Marketing intermediaries• Competitors• Customers• Publics

Macro Enviornment

• the demographic, • economic, • natural, • technological, • political and • cultural forces

IMPORTANCE Determining Opportunities and Threats Giving Direction for Growth Continuous Learning Image Building Identifying Firm’s Strength and Weakness Meeting Competition

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