Nature of Business environment
And that is the reason we call decision making is an economic process. Now, let's understand about the nature of business environment. Normally we know that every organization operates in a certain kind of environment and each organization has some opportunities and threats which are associated with various forces which may be either internal or external in nature. Coming to the nature of business environment, it can be dynamic, uncertain, complex, relativity and interrelation. Let's understand this each factor in detail