Business Environment

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Business Environment Door Mind Map: Business Environment

1. Meaning

1.1. Sum Total of all External Forces

1.2. Outside the control of business

1.3. Affect the performance of business

2. Impact of Policy Changes

2.1. Increasing Competition

2.2. More Demanding Customers

2.3. Rapidly Changing Technological environment

2.4. Necessity for Change

2.5. Need for developing Human Resources

2.6. Market Orientation

2.7. Loss of Budgetary Support

3. Demonetisation

3.1. Announced on 8th November 2016

3.2. Objectives

3.2.1. stop circulation of black money

3.2.2. check tax evasion

3.2.3. curb corruption

4. Sum total of external forces

5. Features

5.1. Specific and General forces

5.2. Interrelated

5.3. Dynamic

5.4. Uncertain

5.5. Complexity

5.6. Relative

6. Importance

6.1. Identification of opportunities

6.2. Identification of threats

6.3. Tapping Useful Resources

6.4. Coping with rapid changes

6.5. Assisting in Planning and Policy formulation

6.6. Improving Performance

7. Dimensions

7.1. Social

7.2. Legal

7.3. Economic

7.4. Political

7.5. Technological