Environmental Analysis: Business Management: External Environment Of Business

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Unit – 1 External Environment of Business – An Overview Introduction 12 Objectives 12 What is Business 13 Contemporary Objectives of Business 15 Meaning of Business Environment 19 Interrelationship Between Business and Environment 25 Types of Environment 28 Objectives and Uses of Environmental Analysis 37 The Process of Environmental Analysis 38 Limitations of Environmental Analysis 40 Summing Up 41 Model Examination Questions 42 Suggested Readings 43

Unit – 2: Internal Environment of Business – An Overview
2.1 Introduction 44
2.2 Objectives …show more content…

The business environment has a bearing on all these integral and interrelated elements. Business dynamics is dependent on environmental dynamics. It is very important to formulate the business strategy thatshould be defined to achieve a perfect organization-environment fit. Also the vision, mission, objectives of an organization should be designed on the basis of assessment of an environment.Relation of business organization and its environment is obvious from the point ofanalysis ofstrengths, weakness, opportunity and threats of business. Organizationenvironment consists of internal environment and external environment. Internalenvironment factors are easily controllable and manage in the organization. Externalenvironment factors are uncontrollable factors due to changes in the legal, social,economic, and technical in business enterprise. External environment offers wide rangeof opportunities, problems, threats and pressures and thereby influence the structureof the business enterprise and its functions. Business enterprise can be treated assubsystem for drawing certain inputs of resource, information and values extractingfrom the external environmental system. These things transform into outputs inthe form of products and services, goals and satisfactions and exchange of properideas and it transmits to business

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