Introduction to Business Environment
Introduction to Business Environment The word ‘Business Environment’ has been defined by various authors is as follows: “Business Environment encompasses the -climate’ or set of conditions, economic, social, political or institutional in which business operations are Conducted.”— Arthur M. Weimer “Environment contains the external factors that create opportunities and threats to the business. This includes socio-economic conditions, technology and political conditions.” – William Gluck and Jauch ‘‘Business environment is the aggregate of all conditions, events and influences that surround and affect it.”— Keith Davis “The environment of business consists of all those external things to which it is exposed and by which it may be influenced directly or indirectly”. — Reinecke and Schoell. “The total of all things external to firms and industries that affect the function of the organization is called business environment.”— Wheeler “Civilizations require cha...