Business w02 Understanding Business Environment @1

The document discusses the key external environments that influence business operations: 1) The economic environment includes factors like GDP, inflation, and unemployment that impact consumer purchasing power and business costs. 2) The technological environment encompasses both technologies for developing new products/services and technologies for improving internal business operations. 3) The political-legal environment consists of the relationship between business and government through regulations and laws. 4) Additional environments discussed include sociocultural, customer, and global influences on modern businesses.