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    Business Environment Notes

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    Martha Anton
    The business environment refers to the various organizations and people that influence a business. It includes customers, consumers, suppliers, the public sector, private sector, and financial institutions. Factors like availability of resources, consumer demand, market gaps, skills, and problem solving can be used to identify business opportunities. The business environment is affected by social, political, economic, seasonal, legal, and technical factors. Small and medium enterprises (SMEs) impact the environment by providing income and independence for owners, employment for workers, and contributing to community development, reducing poverty, and improving living standards. SMEs lower unemployment by creating jobs and reduce poverty by providing income, while improving standards of living by enabling people to afford more.

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    Business Environment Notes

    Uploaded by

    Martha Anton
    51 views2 pages
    The business environment refers to the various organizations and people that influence a business. It includes customers, consumers, suppliers, the public sector, private sector, and financial institutions. Factors like availability of resources, consumer demand, market gaps, skills, and problem solving can be used to identify business opportunities. The business environment is affected by social, political, economic, seasonal, legal, and technical factors. Small and medium enterprises (SMEs) impact the environment by providing income and independence for owners, employment for workers, and contributing to community development, reducing poverty, and improving living standards. SMEs lower unemployment by creating jobs and reduce poverty by providing income, while improving standards of living by enabling people to afford more.

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    BUSINESS ENVIRONMENT NOTES

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    The business environment refers to the various organizations and people that influence a business. It includes customers, consumers, suppliers, the public sector, private sector, and financial institutions. Factors like availability of resources, consumer demand, market gaps, skills, and problem solving can be used to identify business opportunities. The business environment is affected by social, political, economic, seasonal, legal, and technical factors. Small and medium enterprises (SMEs) impact the environment by providing income and independence for owners, employment for workers, and contributing to community development, reducing poverty, and improving living standards. SMEs lower unemployment by creating jobs and reduce poverty by providing income, while improving standards of living by enabling people to afford more.

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    © All Rights Reserved
    Download as DOCX, PDF, TXT or read online from Scribd
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    Download as docx, pdf, or txt
    51 views2 pages

    Business Environment Notes

    Uploaded by

    Martha Anton
    The business environment refers to the various organizations and people that influence a business. It includes customers, consumers, suppliers, the public sector, private sector, and financial institutions. Factors like availability of resources, consumer demand, market gaps, skills, and problem solving can be used to identify business opportunities. The business environment is affected by social, political, economic, seasonal, legal, and technical factors. Small and medium enterprises (SMEs) impact the environment by providing income and independence for owners, employment for workers, and contributing to community development, reducing poverty, and improving living standards. SMEs lower unemployment by creating jobs and reduce poverty by providing income, while improving standards of living by enabling people to afford more.

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    BUSINESS ENVIRONMENT

    Business Environment- refers to the environment that is made up of various


    organisations and people that have an effects on the business.
    Components of business environment:
     Customers- A person or business that buys the products
     Consumer- Is someone who buys the products for consumption ( personal
    use)
     Suppliers- People or businesses that makes goods and services available.
     Public Sector- is made up of government owned businesses that are
    important to the whole country e.g Namwater, Nampower
     Private Sector- is made up of privately owned businesses that are owned by
    private individuals e.g Coca cola
     Financial insititutions- Institutions that offer financial assistance to the
    business. . e,g Banks
    Factors that can be used to explore the environment for identifying
    business opportunities.
    Availability of resources in the area
     Consumer demand in the area
     Existing market gap
     Knowledge and talents (skills)
     Hobbies and interests
     Creative thinking
     Solving the current problem
    Factors that affect the business environment
     Social and cultural issues
     Political issues
     Economic issues
     Seasonal changes
     Laws and legislation
     Fashion and taste
     Technical environment
    Evaluate and report on the impact of SME in the environment of the
    following:
    a) The owner
     SMEs provides income for the owner
     Offer the owners the benefit of financial independence
     The owner takes pleasure and enjoy what he/she doing
    b) Employees
     Business provides employment and income to workers
     It grant them opportunity to improve their living standard
     SME offer employees with opportunity to increase their skills
    c) The community
     The business contribute to infrastructural development in the
    community.
     Business bring wealth to the community
     Reduce poverty,since more people are employed and receive an
    income to satisfy their needs
     Improve the standard of living ( earning of income enables people to
    afford luxury items.
    Evaluate a SME and determine its impact on Lowering
    unemployment,Reducing poverty and Improving the standard of living. (How
    does SME contribute to the following:
    a) Lowering Unemployment
    SMEs created job opportunities and reduce the level of unemployment in the
    country/community7
    b) Reducing poverty
    Employed people receive income to satisfy their needs
    c) Improving/increasing the standard of living
    Earning of income enables people to afford luxurious items which help people
    to increase their living standard.

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