Business Environment Case Study:
Business environment is the complex of factors which influence the financial condition and performance of the firm. The factors are formally divided into the internal and external ones.
The internal factors contain the employer and employees or different levels, managers and head of departments who cooperate between one another and train novice employees and the staff which requires the improvement of its experience. Moreover, internal business environment includes all the problems which occur within the company, all the conflicts, their resolution, decision making, creation of business plans, etc. It also includes machinery, technologies and equipment which are used in the process of production. So, in simple words, the internal factors of business environment are the factors which exist within the wall of the company. Here one can also mention the corporate secrets, strategies of development, accounting and other elements. The external factors of business environment are the market, competition on the market, the government and its policy, suppliers, clients, trends, etc.
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Obviously, external factors are very important for business, because they dictate the rules of management of one’s business. Without the right laws and governmental facilitation and favourable situation on the market it is fairly impossible to start business and develop it considerably. Moreover, one will need to think about the outer support of the company and supply with the resources, materials, energy, transportation and other elements. It is also important to attract clients and persuade them in the quality and usefulness of the product developing the sector of marketing. The businessman should pay attention to all the internal and external factors of business environment if he wants to develop and improve the company and receive solid revenue.
Business environment is the great amount of various internal and external factors which can influence the prosperity and development of the firm. The student who has decided to research the issue on business environment can observe the problem on the example of the definite case which has occurred with the suggested company. first of all the student will need to observe the case site and evaluate the internal and external factors of the business environment and analyze the problem, its cause and effect. Finally, after the detailed analysis of the issue one will need to solve the problem on business environment in order to demonstrate one’s knowledge and experience.
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