Question
State the business environment associated with each of the following statements.
i) Size, age and sex of people
ii) Passing of laws to regulate business
iii) Owners making business decision
iv) Business employees expectations on beliefs and values
i) Size, age and sex of people
ii) Passing of laws to regulate business
iii) Owners making business decision
iv) Business employees expectations on beliefs and values
Answer
i) Size, age, and sex of people:
Business Environment: ExternalThe size, age, and sex of the population are external factors that businesses do not directly control. These demographic characteristics are part of the external environment because they are external to the organization but can have a significant impact on business strategies and operations.
ii) Passing of laws to regulate business:
Business Environment: Externalhe passing of laws to regulate business is an external factor. It involves government actions and regulations that are external to the business organization but can have a profound impact on how businesses operate and make decisions.
iii) Owners making business decisions:
Business Environment: InternalOwners making business decisions is an internal factor. It relates to the leadership and decision-making processes within the organization. It is within the control and influence of the business owners or top management.
iv) Business employees' expectations on beliefs and values:
Business Environment: InternalEmployee expectations regarding beliefs and values are part of the internal environment. It pertains to the organization's culture, values, and the relationships between employees and the company. These expectations are shaped by the internal culture and policies of the business.
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