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Identify the environmental factor that is a characteristic of an attractive environment for a business

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Low customer bargaining power is a sign of a favorable business climate.

What are the main determinants of the business environment?

Environmental elements in business are the circumstances that exist in a workplace. In business, technological, economic, social, political, and cultural factors are the most crucial environmental factors. The business environment is anything that is related to a firm organization. It affects the decisions, strategy, workflow, and performance of the company. Social, technological, economic, legal, and political factors that are outside of the control of the business (STEP) make up the environment. Fuel costs, weather, and natural disasters all have an effect on how quickly things are transported. How you sell your products will be influenced by your product supply. If supplier costs unexpectedly treble as a result of political upheaval abroad, you might need to change your marketing strategy from one that is price-focused.

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