We live in uncertain environments and organizations must be aware of the elements that influence their business in order to anticipate the consequences.
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Characteristics of the company's environment
Factors in the company's environment
The effects on the company's environment
Companies cannot operate as entities isolated from reality. The environment of any company, in a broad sense (economic, political, legal, etc.), influences its activity and requires changes to adapt to circumstances that radically and rapidly modify everything.
The most obvious example is the outbreak of COVID-19. The health crisis forced countless companies to change their traditional way of operating. They had to abandon face-to-face work in favour of remote working and digitalisation .
The structure of the business environment, the relationships established within it and the changes that occur have an influence that the company should not ignore. Therefore, we must identify which factors and characteristics of the business environment influence the activity of organizations , without losing sight of the effects.
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Start of marked textTWEET IT! Learn about the importance of the business environment and its effects. Discover the elements that influence the progress of your business.End of marked text
1) Characteristics of the company's environment
The business environment is the set of external factors that have an effect on the business. Companies interact with customers, suppliers, governments and other businesses. In other words, they have an environment that is characterized by:
The dynamism
It stems from the changing nature of the business environment and the speed at which changes occur.
New technologies and customers. The advancement of new technologies and their widespread use in society are a factor in the dynamics of the business environment. The variable “technology” has also played a decisive role in generating new consumer profiles.
New internal needs. The challenge is for companies to meet the needs of a much more informed and demanding consumer. They must also meet the needs of their employees , suppliers, investors and collaborators, without losing sight of other financial and operational difficulties.
