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Identify the business environment associated with each of the following factors.
a. Employees
b. Tools and equipment
c. Inflation
d. Political factors
e. Technology applied
f. Cultural factors
g. Invested funds
h. Entrepreneur
i. Management
j. Geographical factors
k. Business structure
l. Economic recessions

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Answer:

There are five elements of the Business Environment. They are:

  • Economical Environment
  • Social Environment
  • Political Environment
  • Legal Environment
  • Technological Environment

Each of the 12 factors listed in the question must belong to one category of environment. They are classified as follows:

Explanation:

Economic Environment

  • Inflation
  • Economic Recessions
  • Investment Funds

Social Environment

  • Employees
  • Cultural Factors

Political Environment

  • Management
  • Political Factors
  • Business Structure
  • Entrepreneur
  • Geographical factors

Legal Environment

  • Employees
  • Business Structure

Technological Factors

  • Tools and Equipment
  • Technology applied

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