Business and the Business Environment

Business and the Business Environment cannot operate in isolation. For smooth operations, organizations require human capital, natural resources, finance, and suitable geographical locations. Regular scanning the business environment is also essential, as both internal and external factors significantly influence organizational functions, including customers, employees, regulations, marketing, and supply and demand.

External factors in the business environment include institutions and forces outside the organization that the company cannot control, whereas internal factors operate within the organization and are fully manageable. Careful assessment of these factors is crucial because their impact can be significant on organizational performance.

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This unit provides a comprehensive introduction to analyzing the business environment, covering different types of businesses and ownership structures. Key topics include internal and external influences, as well as the micro and macro environment.

Additionally, the unit explores the social responsibility of businesses, ethical considerations, and strategies for navigating various environmental factors to ensure sustainable and responsible business practices.

Accredited training for real-world success.