man, material, money, machinery and management, usually within the control of business
External Environment: Those factors which are beyond the control of business enterprise
INTERNAL ENVIRONMENT
1)Value system-A value system is a set
of consistent ethic values and measures
goals of business
3)Organisation structure- It consists of activities such as task allocation, coordination and supervision, which are directed towards the achievement of organizational aims.
EXTERNAL ENVIRONMENT
1)Micro external environment-The environment which is
close to business and affects its capacity to work is known as Micro or Operating Environment. It consists of Suppliers, Customers, Market Intermediaries, Competitors and Public. create opportunities and threats to business units.
4)DISTRIBUTORSperson, firm, etc., engaged in the ge neral distribution or marketing of so me article or class of goods.
5)Competitors-
different business units extensively. Components: (a) Political Belief of Government (b) Political Strength of the Country (c) Relation with other countries