Features Of A Business Environment, Regulating The Scope Of Businesses

Business Environment and Management
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Business Environment and Management
1.0 Introduction
The term business environment is used to describe the internal and external forces and institutions that can exceed the control of the business. These factors can also affect the normal functioning of the company. Some of the factors that can affect the normal function of a business include the government, suppliers, competitors, customers, competitors, technology, and the political and social factors. Such factors are in two classifications as either external or internal factors; the internal elements are also known as manageable factors. Effective management of business requires that the administrators of a company to be aware of where the business stands and the possible factors that can influence the company. It is important to note that some of the elements may have a direct impact on the operation of business while other factors may indirectly affect the company (Lee et al., 2015, p.31). For this reason, the business environment is the total surroundings that may present a direct or indirect influence on the normal operations of a business.
For proper management of a business, it is essential to understand the features and importance of a business environment. Due to the growing complexities of operating company, there is close and interaction between individual businesses and their environment. Effective management of a business requires the understanding of the business environment as a dynamic, complex, and multifaceted issue that has a substantial influence on the growth and survival of the company (Harrison, 2014, p287). If a business attains the proper management strategies for the industry, it will be possible to give the direction of growth, determine opportunities and threats, allow continuous learning and improve the image of the business. Also, a proper understanding of the business environment enables the management to gauge the various strengths and weaknesses that may allow or hampering the growth of the business and meets the competition. This paper will explore the features of a business environment, various internal and external factors that may influence the normal function of a business and determine how the elements are controlled.
2.0 Features of A Business Environment
The business environment has dynamic characteristics, which means that it is continuously evolving. Constant evolving makes the business environment to be unpredictable (Elearn, 2009, p.16). Hence, it becomes challenging to predict the exact nature of the possible future events and the changes in the social and economic environment. That is why it important to understand the various features of a business environment to gain insight on how the business environment can be used by managers to ensure smooth operations in organizations. The main features of a business environment are as follows.
2.1 Environment and organizations are inseparable
Business Environment is a crucial part of regular functions of a business. It is impossible for a company to function without being aware of the environment. Marketing requires a worki...