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What factors constitute a healthy external environment of a business?

List factors that constitute a healthy external environment of a business.

Answers

Maurice
(i) Advancement in technology which will enable business people to cut on their production cost/ improve quality of their products.

(ii) Favourable physical factors will encourage business people to invest in an area since workers/ employees will be attracted to such regions.

(iii) Political stability which will create a conducive environment for business to thrive.

(iv) Favourable laws which will encourage people to engage in business activities.

(v) Reliable suppliers who will enable the business to acquire a constant supply of raw materials.

(vi) Many customers who will enable the businesses to sell their products.

(vii) Fair competition that businesses will be able to cope with.

(viii) Economic development which will improve life's of citizens enabling them to earn more and therefore increases their purchasing power hence provides a larger market.
maurice.mutuku answered the question on August 12, 2017 at 12:03

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