Business Environment - Definition & Meaning Explanation
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- Importance of business environment
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- Describe the business environment
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Business environment Before understanding the business environment, we must first know the definition of environment. Because the term business environment consists of two different words. One is business , the other is environment.
Environment is the situation around something in which it grows or performs its function.
Business means doing something that brings profit.
So, with the help of the above discussion, we easily define the business environment. It is the environmental condition of the business organization in which the organization performs its functions .
The business environment can be divided into two parts. One is the internal business environment and the other is the external business environment.
In terms of marketing , the internal business environment is called the micro environment , and the external business environment is called the macro environment .
Proper knowledge and understanding of the environment plays an important role in a successful business .
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