Question
Show the factors affecting business environment –with chart.
✓
Answer
Internal factors :
- Internal factors in business environment are the factors which are controlled by the managers.
- Managers can change them as per their requirement.eg. Objectives of business, employees, managerial structure, method of production, training program etc.
- External factors :
- External factors in business environment are the factors on which there is no control of managers.
- According to these factors managers have to make certain changes in business.
- It includes economic, social cultural, technological, political and legal factors.
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