Features of Business Environment

Features

Following are the features of business environment which will help you to understand more about business environment.

1.Totality of External forces  - It is already clear from the meaning of business environment that it is a combination of internal and external forces.

Hence it is sum total of external forces which have direct or indirect impact on business.

2.Specific and General forces - Business Environment includes both general and specific forces.General forces are those forces which effect the whole country, each and every business of that country. For example the govt charges 5% tax on every business in that case this will going to effect every business.

         On the other hand specific forces is that forces is that force which will going to effect only specific or particular business.

  For example the got. charges 5% tax on cloths so that will going to effect to the cloth industry and businesses which are related to cloths.

3. Inter- relatedness- Different elements of the business environment are inter-related. The change in one effect the other.

    For example:-Increase in the knowledge of customers shifted the business from profit earning to consumer satisfaction.

4. Dynamic Nature -The business  environment is dynamic in nature which means it keeps on changing.

             

       For example:- change in taste and preference of customers.

5. Uncertainty- The business environment is uncertain which means that it is very difficult to predict the changes in the environment, it is very complex in nature.

6.Complexity- We know that business environment is continuously changing and it very difficult to predit ,so we can say that business environment is complex in nature.

7.Relativity- The business environment is also relative which means that business environment depends upon country to country even region to region.