Business environment:
The combination of internal and external factors that influence a company's operating situation. The business environment can include factors such as: clients and suppliers; its competition and owners; improvements in technology; laws and government activities; and market, social and economic trends.
Overview of business environment in Bangladesh:
Political Environment:
This refers what is happening politically in the environment in which government runs the country including areas such as tax policy, employment laws, attitude of government officials, types of government in power, environmental regulations, trade restrictions and reform, tariffs and political stability.
Marketing decision is strongly affected by developments in political environment. This environment is composed of laws, government agencies, and pressure groups that influence and limit various organization and industries. Sometimes these laws create new opportunities for businesses. For example, mandatory recycling laws have given the recycling industry a major boost and spurred the creation of dozens of new companies making new products from recycled materials. In Bangladesh, overall political environment is not good. Because there political government is not stable, frequently change the government. Strike, corruption is common affair in Bangladesh. Only one thing is favourable for business that is tax policy. In Bangladesh tax rate is very low.
Economic Environment:
This refers what is happening within the economy, for example; economic growth/ decline, interest rates, demand, exchange rates and inflation rate, wage rates, minimum wage, working hours, unemployment (local and national), credit availability, cost of living, etc.
In UK, before one and half year their economy was very strong. But at this time their economic condition is not good, because of financial