Business and Financial Guru

Business is awesome. Do you know that business has many environments? There are 4 main business environments, which are:

1. Social Environment
2. Global Environment
3. Economic Environment
4. Industry Environment

If we talk about social environment, then it will be all about:

1. Changes in consumer preferences over time also affect the demand for the product
2. Demographics or characteristics of the population, change over time>>> change the demand.
3. Includes demographics and consumer preferences, represent the social tendencies to which a business is expose.

And about industry environment, then it will all about:

1. The condition in each industry vary according to the demand and the competition
2. This represents the conditions within the company’s industry to which the company is exposed.

If we talk about economic environment, then it will be all about:

1. When the economic is weak, a lot of laying off of employees
2. It has a strong impact on the performance of each business
3. When the economic is strong, employment is high, compensation is high, demand is high.

And last, if we talk about the global environment, then it will be all about:

1. Global economic conditions can affect local economic conditions.
2. The global environment may affect all companies directly and indirectly.

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