business environment
the sum total of all individuals and other forces that are outside control of a business enterprise but that may affect its performance
features of business environment
- totality of external forces
- specific and general forces
- dynamic nature
- inter-related
- uncertainty
- complexity
- relativity
importance of business environment
- it enables the firm to identify opportunities and getting the first mover advantage
- it helps the firm to identify threats and early warning signals
- it helps in tapping useful resources
- it helps in coping with rapid changes
- it helps in assassinating in planning and policy formation
- it helps in improving performance
dimensions of business environment
- social environment
- economical environment
- technological environment
- legal environment
- political environment
economic environment
all the forces and factors which directly influence the economy of your country
social environment
the customs and traditions of the society in which business is existing
political environment
all the factors related to government affairs
legal environment
it is essential for every business enterprise to have adequate knowledge of rules and regulations framed by the government
technological environment
forces related to scientific improvements and innovation which provide new ways of producing goods and services and new way of operating business.
when did demonetisation take place
November 8, 2016
effect of demonetisation
eight six percent of the money in circulation invalid
aim of demonetisation
to curb corruption, counterfeiting the use of high denomination notes for illegal activities, and especially the accumulation of black money generated by income that has not been declared to the tax authorities
features of demonetisation
- tax administration measure
- create a less-cash or cash less economy
- channelizing savings into the formal financial system
- tax evasion will no longer be tolerated or accepted
