External Environments that Affect Business

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A business cannot stay independent of external influencing factors even though it has absolute control over internal factors. A business environment gains significance in this context and it refers to the influences exerted by external factors on the business.

Here is a brief guide on all the external environment factors that affect business.

•nDemographic Environment – It described the size and behavior of the population in a country which provides opportunities for the businesses.

• Economic Environment – It includes the overall economic factors like the economic philosophy of the country, economic structure, policies, etc. which have a serious impact.

• Geographical and Ecological Environment – This refers to the climatic conditions and natural resources which determine the nature and scope of products.

• Legal Environment – This is the set of legal regulations that govern the business organizations.

• Technological Environment – It determines the destiny of businesses with the support of modern technologies and research and development.

• Social Environment – It encourages the businesses to adhere to ethics, morals and social responsibilities.

• Educational and Cultural Environment – This determines the quality of the population for whom the business targets.

• Political Environment – It determines the growth or downfall of a business owing to the political stability of the country.

RCBS, Rajagiri Centre for Business Studies, one of top business schools in Kochi Kerala offers you a choice of various MBA courses. Rated as one of the best MBA colleges in Kerala, RCBS offers you experienced faculty and better placement assistance to you.

To Know More https://rcbs.rajagiri.edu/
Location: Kerala, India

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