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Define the term 'business environment' in the context of external forces and factors.
Define the term 'business environment' in the context of external forces and factors.
The term 'business environment' connotes external forces, factors and institutions that are beyond the control of the business and they affect the functioning of a business enterprise.
Explain the concept of direct and indirect influence in the business environment.
Explain the concept of direct and indirect influence in the business environment.
Some factors may have direct influence over the business firm, while others may operate indirectly.
List three examples of external forces that constitute the business environment.
List three examples of external forces that constitute the business environment.
Customers, competitors, suppliers
According to Bayard O. Wheeler, how does he define business environment?
According to Bayard O. Wheeler, how does he define business environment?
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What does the business environment encompass, according to Glueck and Jauch?
What does the business environment encompass, according to Glueck and Jauch?
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