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    Default What is the business environment like?

    What is the business environment?


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    The business environment or business environment is the home of any organization, company or firm. By themselves, they may not exist, and such an environment is natural for them, but not always comfortable.

    The business environment, which has a serious impact on organizations, poses serious risks and fears for many of them. But there are also positive moments when everything is quite the opposite. For many companies, the business environment provides good opportunities for profit, growth and development.

    Managers of an organization need to study the business environment regularly, be aware of all the changes that take place in it and be prepared. It is necessary:
    - For timely development of appropriate response measures;
    - The best response to external influences;
    - Ensuring that the organization adapts to change.

    During the organization's work, the business environment develops and changes over time. In some cases, macro-environmental factors have a profound effect on a particular organization and become part of its business environment. The business environment can change dramatically as times change: strategies, areas of activity, products, markets, etc.

    In general, it is difficult to define the boundaries of the business environment.

    To understand what an organization's business environment should be like:

    - It is necessary to analyze the activity or industry sector, ie to classify these parameters;
    - In addition, interact with the acquisition process to determine which elements of the environment are subject to their influence.

    The business environment includes:

    - Buyers, suppliers of products and services;
    - Rival n
    - Business Partners
    - Infrastructure;
    - Public authorities and local authorities;
    - Business associations.
    - Associations and other interested individuals, groups and organizations.

    Its ability to achieve its goals is significantly affected:

    - User
    - Supplier of raw materials, materials, equipment, energy resources;
    - Rival n
    - tax services;
    - Financial institutions and tax services that cooperate directly with the organization.

    However, it is important to note that the organization itself can have a direct impact on this and other elements of the business environment.

    Though trading on financial markets involves high risk, it can still generate extra income in case you apply the right approach. By choosing a reliable broker such as InstaForex you get access to the international financial markets and open your way towards financial independence. You can sign up here.

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    What is the business environment?

    The business environment is defined as the external environment in which the organization operates directly, and the factors of the business environment directly and indirectly affect the activities of the organization and most aspects of technology and management. Let's determine the style. The effects of the business environment on the performance of an organization have been extensively studied.

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    The tools and methods used to measure the impact of the business environment, including the following five dimensions:
    Business culture - the core values, principles, philosophies, beliefs and practices that guide business decisions and practices.
    Market Structure - Number and diversity of buyers and sellers, such as market size, growth rate, distribution, product / service differentiation, competition, entry barriers, distribution routes, pricing strategies. , And product life cycle.
    Financial conditions - economic conditions such as GDP per capita, inflation, government budget surplus, interest rates, exchange rate fluctuations, current account balances, monetary policy, financial institutions system, and public debt ratio.
    Technologies - scientific, technological and institutional developments that are an integral part of the business process.
    Economic - real income level, resource availability, resource utilization efficiency, employment level, company profits, availability of capital, prices, income, trade balance and import duties.

    Thus, the business environment has become an important topic for research on organizational behavior and has received much attention in recent years. Business information technology (IT) plays an important role in many organizations as it can provide a variety of services so that they can operate better and more efficiently. However, due to various challenges, IT departments have found it difficult to achieve their goals. These problems are mainly due to the fact that there is a big difference between the perceived benefits of using IT and their actual use. One of the reasons for this trend is that consumers do not realize how much they benefit from using IT. Another reason is that most consumers do not understand and think about IT.

    Currently, the main way to solve the problems of the business environment is:

    - A comprehensive view of the general situation on the market;
    - Analysis of customer needs and requirements;
    - Other stakeholders, also known as the Enterprise Management System (EMS) service model, to create better products / services through technological innovation and "customer-centric" management and to provide customers with a more competitive advantage. imagining.

    EMS has the following three features:

    First, the network uses information technologies as an important tool for production and management.
    Second, it focuses on the client, not just on cost reduction;
    And third, it emphasizes the need for continuous improvement in quality.
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    The impact of the business environment on an organization can be direct or indirect, and for some organizations there is no clear distinction between direct and indirect effects. The direct impact of the business environment means that changes in the business environment have a clear impact on the development process of the company and the formulation of its strategy. While the indirect effect means that changes in the business environment have little effect on the development process and strategy. Therefore, it is important for organizations to fully understand their business environment and then develop an effective internal governance model according to their development status and operational needs. As a result, organizations will be able to solve many problems related to human resources, financial resources, logistics, marketing, etc. more efficiently than before. In recent years, the influence of the business environment on innovation has attracted increasing attention from scientists.

    Though trading on financial markets involves high risk, it can still generate extra income in case you apply the right approach. By choosing a reliable broker such as InstaForex you get access to the international financial markets and open your way towards financial independence. You can sign up here.

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