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Understanding Business
12th Edition
ISBN:9781259929434
Author:William Nickels
Publisher:William Nickels
Chapter1: Taking Risks And Making Profits Within The Dynamic Business Environment
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Evaluate FIVE (5) major sustainability issues which are widespread in the business
environment.

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Business environment refers to the entire set of people, organizations, and other forces that are not under the direct control of a business firm but may have an impact on how well it performs. In other words, the conditions and forces that affect how a firm is run collectively make up the business environment. The firm must successfully cope with these pressures since they have an impact on how it operates. It includes the environment or collection of institutional, social, political, and economic circumstances in which business operations are carried out. For any organization, the business environment offers both possibilities and threats. A good manager of a firm not only recognizes and assesses the environment, but also responds to these outside pressures.

 

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