Define Business Environment. State any three of its features.
Define Business Environment. State any three of its features.
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The term 'Business Environment' means the sum total of all individuals, institutions and other forces that are outside the control of a business enterprise but they may affect its performance.
Features of business environment:
(i) Totality of external forces
(ii) Specific and general forces
(iii) Inter relatedness
(iv) Uncertainty
(v) Complexity
(vi) Relativity
(vii) Dynamic Nature.
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