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Environment is one of the most effective factors for anything. It plays a significant role in field of business and industries. Growth of an industry is depends mostly on its internal and external environments. So, subject refersall internal and external factors that influence directly or indirectly to an industry. If you are not confident enough about this topic for doing your assignment you can click on myhomeworkhelp.com for its on line the business environment assignment helpfor doing your best assignment.
More about the topic
Factors that influence anindustry can be classified into two divisions
- Micro environment, which directly influences a business
- Macro environment, which indirectly influences a business.
Micro environments include the factors viz.
- Customers, that directly influenceproduction of the business by their demands and expectations
- Suppliers, they also directly influence an industryas they supply the raw materials for the productions.
- Competitors also directly influence a business, as management need to change their policies to suppress their competitors.
- Labors play a vital role in this field as they directly involved in productions.
- Marketing team also plays a significant role as they sell the product in the market
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Macro environments include the factors viz.
- Economic system helps to understand the economic environment of country.In socialistic economic system the business and industries of a country is totally governed by the government of the country. In capitalist economic System it is totally controlled by privately ownership and in the mixed economic Systemit is governed by both government and private owners.
- Economic policy indirectly influences the environment of a business
- Economic condition increases the economic development of anindustry as well as a whole country.
- Except that social and political reasons, local people and the media also influence environment of a business.
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