Business Environment Notes For Mba 1st Sem 26.pdf

Business Environment Notes For Mba 1st Sem 26.pdf

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Generally, a business manager can and should take note of the major environmental factors affecting a business. The business manager needs to understand the environmental factors that may affect the operations of the business and decide on a business strategy to mitigate the effects of these factors. For example, for a business to successfully expand its operations, the business manager must plan to take advantage of the economics of the industry and take advantage of new technology. This way, a business can offer goods and services at a cheaper cost, or increase its production to meet the demands of the market.

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