India Economy

Meaning of concern Environment Environment of a affair nitty-gritty the external forces influencing the business decisions. They can be forces of economic, social, political and technical factors. These factors are outside the control of the business. The business can do little to change them. Following features: 1.Totality of external forces: Business milieu is the sum total of all things external to business heartys and, as such, is aggregative in nature. 2.(Specific and general forces: Business environs includes both specific and general forces. Specific forces (such as investors, customers, competitors and suppliers) move various(prenominal) enterprises directly and immediately in their day-to-day working. world-wide forces (such as social, political, legal and technological conditions) have impact on all business enterprises and thus whitethorn affect an individual firm only indirectly. 3.Dynamic nature: Business environment is dynamic in that it keeps on changing whether in cost of technological improvement, shifts in consumer preferences or entry of new ambition in the market. 4.

Uncertainty: Business environment is largely questionable as it is very difficult to predict future happenings, particularly when environment changes are taking place too oftentimes as in the case of information technology or fashion industries. 5.Relativity: Business environment is a relation back concept since it differs from country to country and even region to region. semipolitical conditions in the USA, for instance, differ from those in China or Pakistan. Similarly, submit for sarees may be fairly high in India whereas it may be almost non-existent in France. Importance of Business Environment 1.firm to identify opportunities and getting the first mover advantage: primordial identification of opportunities helps an enterprise to be the first to exploit them rather of losing them to competitors. For example, Maruti Udyog became the leader in the small car market because it was the... If you necessity to get a full essay, order it on our website: Orderessay

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