Business environment, has the following features:
1. Totality of external forces: Business environment is the sum total of all things external to business firms and, as such, is aggregative in nature.
2. Specific and general forces: Business environment includes both specific and general forces. Specific forces (such as investors, customers, competitors and suppliers) affect individual enterprises directly and immediately in their day-today working. General forces (such as social, political, legal and technological conditions) have impact on all business enterprises and thus may affect an individual firm only indirvectly.
3. Inter-relatedness: Different elements or parts of business environment are closely inter-related.
4. Dynamic nature: Business environment is dynamic in that it keeps on changing whether in terms of technological improvement, shifts in consumer preferences or entry of new competition in the market.
5. Uncertainty: Business environment is largely uncertain as it is very difficult to predict future happenings.
6. Complexity: Since business environment consists of numerous interrelated and dynamic conditions or forces which arise from different sources, it becomes difficult to comprehend at once what exactly constitutes a given environment.
7. Relativity: Business environment is a relative concept since it differs from country to country and even region to region. Political conditions.
