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The Business Enviroment

In: Business and Management

Submitted By terim94
Words 3176
Pages 13
Executive Summary
Business environment is very important to an organisation which will help the firm to identify opportunities and getting the first mover advantage. Besides that, it can also improve performance of an organisation. This report is going to identify all the factors that helps the business run efficiently. First of all, this will understand the purpose for a range of business types (e.g. sole trader, limited company, business partnership and many more). Then will identifies and justifies how objectives evolve, and how they are influenced by the various stakeholders. Find techniques which will enable the business to cope with the environment in which they operate. And in completion realise the different market sectors will have different approaches when defining objectives, satisfying stakeholders, and coping with their external environment. This will be analysed by choosing three different types of businesses which will be compared in their way that they operate.
An introduction to business environment
Business environment may be distinct as the set of external and internal factors which affect the decision of business. Internal environment is the factor that will affect the business directly, which involve customer, employees etc. External environment refers to the factors that influence the organisation indirectly, which involve PEST (Political, Economic, Social and Legal). Working of the business process is influenced by these forces and factors, which stay outside the business that are uncontrollable by single business entity but have effect on business is called Business Environment. The purpose of business is to offer value through products and services to customers, and the money received then should found the costs of the operating business. Every business main purpose is make profit and is possible extend it Erisman, A., Gautschi, D.,

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