Features of Business Environment:
(a) It is the totality of all external forces affecting a business.
(b) It includes both general(affect all individual firms indirectly) and specific forces (affect all individual firms directly).
(c) Its elements are closely inter-related.
(d) It is dynamic as it keeps on changing.
(e) It is uncertain as it is difficult to predict future happenings.
(f) It is complex as it comprises of numerous interrelated and dynamic conditions which arise from different sources.
(g) It is a relative concept as it differs from region to region.
