What is environment?
Environment refers to all external forces whichhave a bearing on the functioning of business. According to Keith Davis, "Environment of the business means the aggregate of all conditions, events and influences that surround and affect it." According to Barry M.Richman and MelvynCopen, “Environment are largely if not totally,external and beyond the control of individual industrial enterprises and their managements.These are essentially the ‘givers’ within whichfirms and their managements must operate ina specific country and they vary, often greatly,from country to country.”
What is Business Environment?
In the words of B.O.Wheeler, "Businessenvironment is the total of all things external to firmsand individuals which affect their Organization and operations".Business is the product of the technological, political-legal, economic, socio – cultural, global and naturalfactors amidst which it functions. Three features arecommon to this web of relationship between