At its core, the business environment is split into two spheres: and External .
By mastering these key points, students can develop a comprehensive understanding of the business environment and its significance in business studies. Business Environment Mbs 2nd Sem Notes
This determines the rules of the game.
To manage the business environment effectively, businesses can adopt several strategies, including: At its core, the business environment is split
| Theory/Model | Key Idea | |--------------|-----------| | | Scanning macro-environmental factors | | Porter’s Five Forces | Industry competitiveness (Rivalry, New entrants, Substitutes, Bargaining power of suppliers & buyers) | | SWOT Analysis | Internal strengths/weaknesses + external opportunities/threats | | Environmental Scanning | Systematic monitoring of trends & events | | Stakeholder Theory | Balancing interests of all stakeholders (not just shareholders) | At its core