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Business Environment — Business Studies STD 12 Commerce — Question

CBSE BoardEnglish MediumSTD 12 CommerceBusiness StudiesBusiness Environment3 Marks
Question
What do you mean by external environment?
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Answer

External environment includes all those factors which influence business and exist outside the business. Business has no control over these factors. The information about these factors is important for the study of the external environment. Some of these factors are those with which a particular company has very close relationship, e.g. customers, suppliers, competitors, etc. However, there are some other factors which influence the entire business community. e.g., political environment, economic environment, etc.

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