MGT501 Business Environment Assignment

MGT501 Business Environment

Business Environment Transcript
Self Introduction
I am a student of Business Management .Business Management has always been attraction to
me that’s why I decided to pursue my career in this field and joining a business course is first
step in this process .This course has helped me to learn the not only the basics but the important
aspects of this field and how the managers have to work in this environment , the well
researched theories and approaches are being learned through this course that helps in making a
career in this field in better way. ( please include your name and course too).
Business Environment explained
The Business Environment is sum of the internal and external factors that puts the effect on
business processing if an organization. It refers to the internal and social factors that drives the
functioning of business. These Environmental factors are-
 Employees
 Customer needs
 Supply and demand management
 Activities of Government
 Innovation in technology
 Market trends
 Economic changes
Importance of Business Environment explained
A good business environment provides the stability and growth to the organization. It helps in
following ways-
• It helps in providing the strength to core activities.
• Helps in overcoming weaknesses

• It helps in making business dynamic
• Helps in detecting the opportunity.
• It guides for efficient usage of resources.
• Helps in making goals for long term growth.
• Flexible in bringing dynamic change in business activities and also it
• Provides path for social acceptance
Internal Factors of Business Environment explained
Those factors that are within the organization and helps in making the healthy business
environment within the orgnization are termed as Internal Factors.
The core internal factors that drives the business environment are as follows-
 Value of Promoter
 Mission and objectives set
 Structure of management
 Image of company-brand value
 Facilities avilable in company
 R&D facility
 Technological innovativeness
 Human resource
 Internal relationship
The internal relationship includes the -
• Jobs and wages