On the basis of the above discussion the features of business environment can be
summarized as follows.
(a) Business environment is the sum total of all factors external to the business firm and that greatly influence their functioning.
(b) It covers factors and forces like customers, competitors, suppliers, government, and the social, cultural, political, technological and legal conditions.
(c) The business environment is dynamic in nature, that means, it keeps on changing.
(d) The changes in business environment are unpredictable. It is very difficult to predict the exact nature of future happenings and the changes in economic and social
environment.
(e) Business Environment differs from place to place, region to region and country to
country. Political conditions in India differ from those in Pakistan. Taste and values
cherished by people in India and China vary considerably.
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