Dimensions of Business Environment Dimensions are the factors constituting the business environment include economic, social, technological, political and legal conditions which are considered relevant for decision-making and improving the performance of an enterprise. However, management…

Privatization in Business Environment The transfer of ownership, property or business from the government to the private sector is termed privatization. The new set of economic reforms aimed at giving the greater role to the…

Governments create the rules and frameworks in which businesses are capable to contend against each other. From time to time, the government will modify these systems and frameworks forcing businesses to transform the method they…

The term ‘business environment’ means the sum total of all individuals, institutions and other forces that are outside the control of a business enterprise but that may affect its performance. Thus, the economic, social, political,…

Importance of Business Environment Just like human beings, business enterprises do not exist in isolation. Each business firm is not an island unto itself; it exists, survives and grows within the context of the element…

Business activity involves a number of functions. There are- Production involves changing natural resources into a product or the supply of a service. Most business resources are used up in the production process. Examples of production…