SECTORS OF BUSINESS ENVIRONMENT AND THEIR IMPACT ON BUSINESS DECISIONS

Abstract

In today’s economic conditions, the role of the business environment is critical to the success of enterprises. Business does not operate in a vacuum – it interacts with both internal and external factors that determine its functioning, development, and competitiveness. Our research examines the key elements of the business environment, the impact of external and internal factors on business activities, and the peculiarities of analyzing and diagnosing the business environment. The business environment is a complex set of interconnected external and internal factors that influence all aspects of a company operations. According to research, the term “business environment” lacks a unified definition in the scientific literature, but it is commonly viewed as a combination of elements that define the conditions for conducting business activities.