Business Environment


Introduction

Market environment is marketing term includes the factors consisting of firms ability to build the successful relationship with the customer. Generally, there are two type of environment first is internal environment and other is external environment. Internal environment consist of all those factors, which influences the business, and present within the business itself. These factors are under the control of business. External environment are the factor such as political, economical, social and technological factor that affect the business. These factors are not under the control of the business.
Crucial elements involved with performing an internal scan. Internal business environment consist of'


(i) Objectives of Business - The main objective of business for which business is establish or running in the field. Objective decide the strategy of the company in the long run.
(ii) Policies of Business- Rules and regulation on which business is based. Policy decide the future of the business.
(iii) Production Capacity- Efficiency of the machine and employee which decide the production capacity of the organisation.
(iv) Production Methods- Generally there is two types of production method one is labour intensive and other is capital/machine intensive.
(v) Management Information System- It includes managing the account of the business and all the documentation process.
(vi) Participation in Management- For successful business the employee and management relation should be strong
(vii) Composition of Board of Directors- Board of director should consist of representation from all department.
 (viii) Managerial Attitude- The ability to control the business organisation such as participative leadership that takes the suggestion from the subordinates.
(ix) Organisational Structure- There are different structure of the organisation such as chain formation or hierarchy structure.
(x)Features of Human Resource – Organisation should be able to use their human resources in better way to ensure the success.

SWOT ANALYIS-

SWOT jpg.jpg

Strength

Strength of any business organization is it man, machine and materials which are the main factors of the production.

Weakness

Employee-management relations is changing environment is becoming challenging day by day due to increasing power of the union group in the organization.

Threats

Now’s a day government policy is changing day by day and they are imposing the legal sanction if any organization does not follows the government rules and regulation

Opportunity

Due to the globalization, there is enough opportunity for the organization to expand globally.

Conclusion

External analysis and internal analysis of the business organization is important to remain competitive in the organization. SWOT analysis gives the organization a tool to understand the strength of company and avoid the threats coming in implementing the strategy for the success of the business.

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