Please enable JavaScript.
Coggle requires JavaScript to display documents.
Business environment, Internal factors (Strengths and Weaknesses) - Areas…
Business environment
Internal business environment: The set of internal elements or forces that affects an organization’s behaviour.
-
-
Management policies: Foresee changes in external factors and formulate business strategies and policies accordingly.
-
-
-
-
External Business Environment: the set of elements or forces that external to the individual business unit but operates within it. It indirectly affects an organization.
-
Economical Environment: Economic factors like rate of inflation, demand and supply condition and economic policies
Social Environment: Involves customs, traditions, values, social trends and society’s expectations from the business.
Technological Environment: It includes new approaches, products and equipment for production.
Legal Environment: Laws, rules and regulations that the business must operate under.
-
-
-
Includes:
-
General forces
Social, political,legal and other forces that have an indirect effect on business operations
-
-