Business Environment explained in easy language

Photo by Toa Heftiba on Unsplash

Every Business works in a dynamic nature. Business faces threat and opportunities. Business had its own environment in which it works. Business environment means the sum of all factors which influence the business and over which the business had no control It constitute social environment, economical environment, technological environment, legal environment and political environment.

If there is any change in these factors it will impact on business. Every business man should give priority to the study of theses business environment helps in figuring out opportunities and warn against threat in the market. It will also gives first mover advantage. Companies should utilize business environment for the growth of company.