What are the 5 areas that influence today s business environment

Technology has closed the business of black and white t.v.(i) sale of goods act (ii) industrial disputes act (iii) minimum wages act (iv) indian partnership act (v) companies act (vi) trademark act (vii) essential commodities act (viii) consumer protection act (ix) standards of weights and measures act.A change in the political party, level of precipitation, or even a statement of an influencer can affect the business environment.Businesses of all sizes can be impacted by the global business environment, which is the combination of political, economic, and cultural systems.Some legal factors include health and safety regulations, employment laws, antitrust laws and discrimination laws.

Demographics that affect business decisions and processes include:The business environment can include factors such as:Many areas of employment are impacting businesses and the managerial accounting function today.Managers must understand how the environment is changing and the impact of those changes on the business.Business environment refers to a set of political, economic, social, technological, environmental and legal (pestel) forces that are largely outside the control and influence of a business and that can potentially have both a positive and negative impact on the business (varian,2003,p 4).

Geographical and ecological or natural factors 1.As noted earlier, today's workforce is more diverse than ever, with increasing numbers of minorities and older workers.External factors affecting business #3:Technology has accelerated the pace of work and the ease with which we communicate.For example, more than 60 percent of workers in the united states are employed within service industries, such as government agencies, marketing firms, accounting firms, and airlines.

Political, economical, social, technological, legal and environmental, which are often abbreviated to pestle.The change in the business environment affects the earnings and profits of the companies.Mother nature happens to be a force that no human can control or contain and given the fact that global warming is on the rise, then the best that every business owner can do is to hope for the best but be prepared for the worst i.e.