Businesss Environment is a combination of factors such as employees/ customers needs and expectations,management policies,employee and customers relationship,innovation adopted by the institution including the social trends, market trends and economic changes experienced.
A good Business environment helps employees to identify business opportunities, utilise useful resources found in the work place, it enhances the overall performance, growth and profitability of the business.
Factors that influence good Business environment or decisions can be direct or indirect, but it is important employees and bosses take note of these namely:
*Geographical Factors: A company/industry that is close to people who needs what it can offer will not have problems getting customers, if it is also closer to where it can obtain it's raw materials then such an industry will likely not run out of production which affects performance.
A company that adheres to the right Sanitation,health and land use rules would not have much problem with the government; this will ensure the smooth running of the company's Business.
*Demographic Factors: A Business institution should have a good number of employees it can cater for, the ability to satisfy your employees without much Ado will keep Business running. A good mix of both sex will encourage prospective Employees to apply.
*Social Factors: While Business personnels are doing their business strategies, it is important they note that they should not act with profit motive only, to maintain a long term relationship, they have to engage in several social responsibilities also. They should give due consideration to the long-term welfare of the consumers as well as the society. They should be socially responsive to the complaint and feedbacks of their consumers.
*Political and Legal Factors: Understanding the statutory and foundational laws guiding a state or different Business, both employees and employers would know how to guide their rights
*Economic Factors: This has to do with economic system, economic situation and economic policies; understanding that a capitalist or Socialist economy requires a different marketing strategy, every Business set up in a developing country too, should take note of the gaps between the rich and the poor and thus should provide alternative goods/ services that both parties can afford. It is also important for every company to know the different government policies before starting one to avoid stories that touch the heart.
How to handle an uncondusive Business environment
* Give your employees space: Lack of personal space can also start conflict between co-workers and stress them out even more than they should be.
* Employees and employers should learn and harness the power of technology to improve interdepartmental communications, improve cash flow management and improve Clients to company relationship
* Fix your eyes on the goal, make the Job a passion and the environment will not really have a negative impact on you.
*Everyone wants to work in a place that is free from accidents and injuries, nobody wants to stay in a workplace riddled with safety hazards and accidents waiting to happen.
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