NameUniversityCourseTutorDateBusiness milieu comprises of social , technological , economic and political milieu which facilitate the proper functioning of any business . Capon argued that cannot occupy in isolation and this is true because any business postulate interaction with other stakeholders which hit the greatly . The has been noted to hold back great effects on the formational decisions , strategies , treates and performance (Capon 1987The events and changes in the outer and congenital pose significant impact on the . The internal comprises of nodes , suppliers employees , board of directors and creditors . The elements of internal are said to be the main(prenominal) determinants of and hence the organisation that is undertaking the particular business set the elements to ensure desirable results In addition to the internal surroundings which the organisation has limited control the element of external surround according to capon include technical environment , legal environment , political environment and cultural environment (Capon 1987 Klein 1991 Erickson 2000 scientific environment which affect the functioning and continuity of form an important element that animation and cause changes in the . Organisations that are concerned with business start out at maximising profits and minimising the associated woo of production or running the business . Changes in the technological environment own had great impact on the . Business environment mustiness be updated in terms of technology to ensure advantageousness . The technological environment is concerned with technological innovations which the utilise to be able to progress by means of production of new products . Technological innovations create new markets for new products and any business organisation that is willing to excel must embrace the changes to satisfy customer demands .
Utilisation of technology especi wholey computerised systems has conduct to change magnitude end product and hence higher profits due to lower cost of operation and amplificationd efficiency Technological change has led to changes in the internal environment where employees in almost all business are required to be computer literate . Technology has led to increased e-business where suppliers and customers place s through the internet as well as purchasing and interchange . Dynamic changes in the technology environment have been cognise to lead to competitive advantage among many businesses especially in a competitive market (Klein 1991Economic Environment consists of demand changes , interpret changes , price factors , degree of competitiveness and profitability impact on the . Business environment interact closely with economic environment for success of any business organisation . Demand and hand over changes which affect are derived from economic changes . For example demand of a normal good is said to be inversely think to price while supply is directly proportional to process . Prices are determined y the prevailing market changes in the economy . Prices goods and services in may also be affected by the taxation policy , when tax is increased price of goods and services increase and in most scenarios , the increase in tax is transferred to the final consumer . Economic environment...If you want to bring forth a full essay, order it on our website: Orderessay
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