Understanding Business Environment and its Types

Introduction
Business environment refers to a collection of different internal as well as external factors which can have an adverse affect on the business
and its operation. It includes different factors such as staff, consumer needs, technology, innovation etc. it also affects the company's functions .
Business Environment
Local Business
It refers to the business which operates in the
specific geographical area and have a
physical presence at that place. It could be
rather a small store or an online retailer which
have its physical store there.
National Business
It can be defined as a business which
have their business operations in different
territories and cities of the native country.
These type of business does not have any
intention to establish their business across
other countries
International business
This type of business refers to businesses
which operates in more than one country.
Their headquarters are present in one
country but other things such as offices,
factories and plants are present in different
countries
Third Sector
This sector is also known as voluntary
sector which is neither public nor private
sector. It is an free sector which is formed
for a primary cause by some or many
members which can be related to anything
such as promoting sports or promoting
culture etc.
Private sector
This sector involves the more participation of
individuals and the companies whose main
motive is to earn more and more profits.
Public sector
This sector includes the involvement of
the organisations which are owned and
controlled by the government. The main
motive of these sectors is to support the
social welfare of the people through
providing different services.