relationship between the internal and the external environment of a business

Question 1

Business environment

Answer 1

the surrounding conditions in which the business operates

Question 2

Internal environment

Answer 2

The factors over which the business has some control over

Question 3

Examples of Internal Environment

Answer 3

Employees, Managers, Management Style, Company Policies

Question 4

External Environment

Answer 4

Consists of all the elements outside a business that may act as a pressure or force on business opportunities.

Question 5

Operating Environment

Answer 5

Made up of stakeholders external to the business which have a direct impact on the operation of the business over which the business has little control over.

Question 6

Examples of Operating Environment

Answer 6

Suppliers, competitors, customers,

Question 7

Macro Environment

Answer 7

comprises the broad forces, conditions and trends in the economy and society within which the business operates, and the business has no control over.

Question 8

Examples of Macro Environment

Answer 8

Global issues, economic conditions, government regulations