Business Environment

Running head: BUSINESS ENVIRONMENT
BUSINESS MANAGEMENT
Name of the Student:
Name of the University:
Author note:

1BUSINESS ENVIRONMENT
Introduction
Business is defined as an enterprising entity engaged in commercial, trade, industrial and
professional performances. Business can aim for profit entities or non-profit organizations which
operate in order to attain a charitable objective or serve for any social cause. Gallemore and
Labro (2015) have noted that business can be referred to the organized efforts and performance
to produce goods and sell products and services to gain profits. Drawing relevance from these
factors business and related subjects related to finance, accounting, management and economics
are amongst the most recognized fields of study at universities across the world specifically at
graduate level.
Discussion
In an ever changing global business and economic environment studying business from a
global perspective is imperative for graduates who show high aspiration to engage in
international boundaries and cultures. According to Yusuf et al. (2014), business environment is
becoming increasingly international which has been leveraging students recently to perceive
globally in an environment which tend to merge Eastern as well as Western perspectives of
business and management. For example, Australia’s multiculturalism implies to the increase in
prospects and avenues to obtain knowledge of various nations thus providing extensive cultural
perspective. Research of Hair Jr et al. (2015) have revealed that nearly one-third of employers
have increased their educational requirements and credentials over the past five years. Engaging
in the course of business environment and its subfields has not only aided me to not only explore
things beyond a local lens but also the global economy. With my aim of obtaining an

2BUSINESS ENVIRONMENT
international perspective, I have been highly inclined to explore this subject and develop
competence to negotiate with business associates of diverse cultural backgrounds.
On the basis of foregoing discuss, it can be noted that business environment serves as the
most significant aspect of any business organization (Gallemore & Labro, 2015). Thus, in order
to gather insights of the ongoing developments business must efficiently adapt these trends and
further focus on applying them as vital prospects. As a student of business studies, I have
improved my knowledge to identify varied business opportunities. Critically delving into the
module courses and materials has helped me to comprehend that all changes within the business
domain do not generate unconstructive outcomes. Thus, it is highly important to identify change
and developments and implement it as a tool to resolve the problems concerning the business.
Furthermore, another important factor related to business environment significantly depends on
strategic planning to mitigate potential business challenges and demands of stakeholders and
proficiently utilize the opportunity (Yusuf et al., 2014). The subject of business environment
have helped me to identify the increasing internal power relationship related to factors like the
amount of support the top management benefit from diverse levels of workforce, stakeholders
along with Board of Directors who primarily leverage the process of decision making and their
execution (Hair Jr et al., 2015). Through critical evaluation of the course modules and resources
exploring factors of business environment I have grasp ideas relating micro business
environment that is intrinsically related to business organization in comparison to macro factors.
Enqvist, Graham and Nikkinen (2014) dealing with business environment have noted that micro
forces linked to business need not essentially impact all organizations in a particular sector in
similar ways. Some of the micro factors have the tendency to be specific to a business enterprise.
For instance, an organization which has its dependence on supplier may constitute a supplier