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 Form 1 Business Studies: Business and its environment online lessons

Types of business environments

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Answer Text:
Business environment.
-Refer to all factors that can positively or negatively influence business operations.
Types of business environments:
Internal business environment(micro-environent)
-Refers to factors within the business itself which can
affect business operations positively or negatively.
Internal business environment factors include:
-Organizational or business culture:Are norms and codes of behavior that is acceptable to all from senior managers to lowest rank of employees.
-A good business culture can lead to business success.
-Business owners:Refers to people who provide capital to start or run the business.
-Business resources: include:
a) human resources or labour:the workers or employees of the business.
b)financial resources:money made available to start or operate business.
c) Physical resources:Tangible facilities
that belong to the business e.g buildings, furniture etc. d)Technological resources:Skills and techniques used in production process.
Business structure: This is the framework of activities that are done at different levels to achieve the objectives of the business.