External environment of business

Date: 2015-10-07; view: 503.

WARM-UP' POINT

Business Strategies

(Revised Unit 4 from Business & English by Levon Gzokian)

(1) The business environment has become more complex, with expanding and deepening ties between societies and between many organizations within those societies. Moreover, many large organizations see themselves as truly global in scope.

(2) The business environment can be visualized in terms of layers, beginning with the immediate internal environment within the organization and moving outwards to the external environment surrounding the business and influencing its organization and operations. The external environment includes an array of dimensions or influences, including economic, political, legal, technological, and cultural and social factors (in the figure below arrows represent these dimensions).

►Explain on your own how the external environment can influence a business.

‘THEORY-1' POINT