Environmental Factors Of Business Environment Essay
Environment means external things like climate, infrastructure, roads, mountains, sun, rain i.e. the surroundings in which we exist. Similarly, business also exists in an environment where it establishes, grows or operates and dies. It exchanges resources with the environment in the form of inputs that is collected from surroundings like man money, materials, machines etc. and provides output like goods and services in the environment. There are factors, circumstances and events which occurs and influence the way a business operates, either in a positive or a negative way and are called as an 'environmental factors.' The environmental factors are classified as: internal environmental factors and external environmental factors. Internal environmental …show more content…
Business which produces goods: The goods are classified into two categories, i.e. commodities and products. Commodities are the goods produced by the primary sectors i.e. agriculture and mining while products are the goods produced by the secondary sector i.e. manufactured or processed goods. 2. Business which produces services: Involves IT enabled sector, Hospitality sector, Banking sector, etc. 3. Businesses which distributes goods: Involves in the distribution of the final product from other industry 4. Businesses which facilitates the distribution of goods 5. Business which deal in Finance and Financial Services Classification based on the nature of activity: 1. Extractive Industries: Extract goods from natural resources. Examples – Farming, fishing, oil extraction. 2. Genetic Industries: Related to genetics or breeding. Example- Biotechnology, animal breeding. 3. Manufacturing Industries: Process raw material. Example- Iron, machines, tyres and FMCG
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