Question

State any three features of business environment. 

Answer 1

Features of the business environment are: 

1. Inter-relatedness: The corporate environment is complex and interconnected. e.g. increasing healthcare awareness has led to increasing demand for items such as sugar-free, diet coke, and cholesterol-free oil.
2. Dynamic nature: The business environment is always evolving due to technological advancements, consumer preferences, market rivalry, government policies, and shifting trends and traditions.
3. Uncertainty: The business climate is unstable due to rapid changes in technology, government legislation, and other factors. This is especially true for businesses like information technology and fashion.