Business environment team1.
This document discusses the business environment and its importance. It defines business as an economic activity involving the continuous production and distribution of goods and services to satisfy human wants. The business environment includes both internal factors within a business like management and resources as well as external factors in the broader environment like economic, political, social, technological, and cultural influences. Understanding the business environment is important for businesses to identify strengths, weaknesses, opportunities, and threats, and to ensure optimal resource utilization, survival, and growth. The document provides examples of some external factors like technological advances and cultural influences that affect business.
Business environment team1.
- 2. Earlier “To produce what is being produced.” Now “To produce what is being desired.”
- 3. Meaning….. “A business is an economic activity, which is related with continuous and regular production and distribution of goods and services for satisfying human wants”. According to Stephenson business is, “The regular production or purchase and sale of goods undertaken with an objective of earning profit and acquiring wealth through the satisfaction of human wants”
- 4. Features…. Environment is the surrounding situation Environment is complex Environment is dynamic Environment is multi-faceted Environment has long term impact on business
- 5. Importance… Identification of strengths and weakness Identification of Opportunities and threats Anticipating future problems and prospects Ensures optimum utilization of resources Ensures survival And growth
- 6. Types of Business Environment Internal Environment External Environment Man Money Marketing Machinery Management structure Miscellaneous factor Economic Factor Geographic factor Social factor Technological factor Political factor Cultural factor
- 7. External Factors. Technological- Technological environment influences the business in terms of investment in technology, consistent application of technology and the effects of technology on markets. Political- If a certain business or its owners are not on good terms with the politicians, then they will suffer.
- 8. Cultural factors 1. Discrimination- A tribe, a caste, racial category of minority language group. 2. Population-Women have the potential to struggle and achieve great heights of success in the economy. 3. Culture- Culture can have hidden effects in business, trade and development. 4. The limits of cultural interpretations.
- 9. Thank You! For Further queries, contact, #9773811338. -Group 1. Presented By: Anuj Varma Ikshit Mistry(I.M.) Prabhavati Hiremath Dipesh Raiker Mayuresh Karpe
Editor's Notes
- #9: China maybe a major power now, but it was the worlds most developed country in the Middle Ages, and stagnant or even went backwards, for centuries. Part of this was cultural, a pride and sense of self sufficiency that led to a closing of Chinas borders.