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SS3: COMMERCE - 1ST TERM

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  1. Business and Its Environment | Week 1
    2 Topics
    |
    1 Quiz
  2. Introduction to Marketing | Week 2
    6 Topics
    |
    2 Quizzes
  3. Consumer Protection | Week 3
    1 Topic
  4. Instruments for Protection | Week 4
    9 Topics
  5. Agencies that Educate and Protect Consumers | Week 5
    8 Topics
    |
    2 Quizzes
  6. Business Documents | Week 6
    3 Topics
    |
    2 Quizzes
  7. Means of Payment | Week 7
    5 Topics
    |
    1 Quiz
  8. Commercialization | Week 8
    4 Topics
  9. Privatization | Week 9
    4 Topics
  10. Deregulation | Week 10
    2 Topics



Lesson Progress
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Business environment involves the host communities agencies and organizations, outside the business enterprises whose activities can facilitate or hinder the achievement of the objectives of the business.

Components of Business Environment

Business environment consists of the following components:

1. Industrial Environment: This involves firms or companies that are within the same industry which manufacture and or trade on similar goods and services. To complete effectively, management should monitor changes in prices, packaging quality, etc of products in its industrial environment.

2. Infrastructural Environment: Here, transportation communication and other facilities like roads, airports, seaports, and power supply, etc whose condition or state have a direct impact on the performance of the business.

3. Economic Environment: The socio-economic background and income level of the clientele, other economic factors such as availability of natural resources, etc will have an impact on the performance of the business.

4. Socio-Cultural Environment: The culture and tradition of the people of the area (how they dress, eat, live, and as well as their value system) are bound to have an impact on the performance of the business.

5. Political and Legal Environment: Government regulation laws and policies will affect the performance of the business.

6. Demographic Environment: The size, distribution, and structure of the population will have a considerable impact on the performance of the business.

7. Ecological Environment: Ecology refers to the balance of the relationship between living things and the environment, quantity, quality, and level of water supply, weather condition, etc. will affect the performance of the business.

8. Technological Environment: The level and quality of education and technical knowledge and skills available in an area will affect the performance of the business operating in the area.

9. Pressure Groups: In the recent past some youths in particular areas always demand from the government to meet their demands on vital issues of interest to them. Some pressure groups and institutions as well as the mass media are bound to have a significant impact on the performance of the business operating in the area.

10. International Environment: Developments in science and technology have brought the world together as one economic unit. What is happening in other countries will surely affect business in countries having bilateral relations.

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