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Updated August 12, 2022

Business Internal and External Environment 

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Business Internal and External Environment  essay
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Meaning of Business Environment

The connection of internal and external constituent that factors a company`s operating situation. Business environment have two sub environment. There are internal environment and external environment.

Internal Environment

Internal environment is Includes all factors inside the organizations. Internal factors are controlled by the organizations. Internal factors with in the organizations.

Internal factors

  • Human resources – mangers, employees.
  • Current technology – apps, new software.
  • Finance – buy new machines and equipment, buy new vehicles.
  • Company image and brand equity – Apple, Nike, SONY
  • Mission and objectives – the KFC mission or vision statement is as follows. “To sell food in fast, friendly environment that appeals to price conscious, health-minded consumers” (ASK media group, 2020).

Strengths and weakness can be identified by studying internal environment.

External Environment

External environment is includes all factors outside the organizations. External factors are uncontrolled by organizations. All factors are outside. External environment has two sub environment.

Operating or competitive or task or market external environment – suppliers, customers, competitors, publics
Remote or macro or general external environment – international dimension, political-legal dimension, economic dimension.

Threat and opportunity can be identified by studying external environment.

References

  1. Business jargons. (n.d.). internal environment. Retrieved feabruary 16, 2020, from business jargons: https://businessjargons.com/internal-environment.html
  2. Media group. (2020, january 06). businees-finance. Retrieved feabruary 16, 2020, from reference: https://www.reference.com/business-finance/kfc-vision-statement-7285bcb4a474915f
Business Internal and External Environment  essay

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Business Internal and External Environment . (2020, Nov 03). Retrieved from https://samploon.com/business-internal-and-external-environment/

FAQ

What are the 5 internal environmental factors?
The factors are: (1) Value System, (2) Mission and Objectives, (3) Organisation Structure, (4) Corporate Culture and Style of Functioning of Top Management, (5) Quality of Human Resources , (6) Labour Unions, and (7) Physical Resources and Technological Capabilities.
What are the elements of external and internal business environment?
External factors include political, economic, sociocultural, technological, environmental, and legal factors. Internal factors include things like values, management styles, Human Resources, technological and physical resources, and organizational structure.
What is external environment in business?
The external environment is the factors outside a business that can affect its operation by influencing its activities and choices and determine its opportunities and risks .
What is the internal environment of a business?
An organization's internal environment is composed of the elements within the organization, including current employees, management, and especially corporate culture , which defines employee behavior. Although some elements affect the organization as a whole, others affect only the manager.
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