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Essay on the Internal and External Environment of the Canadian Business Environment

Category: Business Paper Type: Essay Writing Reference: APA Words: 750

It is vital for every business to understand that they have to deal with a business environment, which is impacted by a lot of external forces, and some of these forces are in control of the business, but there are few other sources, which cannot be controlled. However, these forces of the business environment can make a considerable effect on growth, profitability, as well as, the performance of a business organization. The business environment for every business organization can be distinct and dynamic in so many ways (Business Jargons, 2020). There are so many critical features associated with the Canadian business environment. The first important feature of a business environment is being Dynamic. The business environment is never a static thing; rather it changes with the passage of time because there are so many external factors making a viable impact on the business environment. The second feature of a business environment is complex. There are a variety of factors and forces, which come together to form a business environment, which means it is so obvious to have some complexity in it (DYER & ROSS, 2008). It is important to understand that like any other business environment, the Canadian business too face such kind of situations, where these features are more prevalent. The businesses operating in Canada has also deal with these business elements to comply with the overall business environment (Karakowsky & Guriel, 2014)

Body of The Internal and External Environment of the Canadian Business Environment

The business environment deals with so many elements at a time, and there are factors such as political, social, and economic, which can influence the business environment, which means it will always have an element of uncertainty. So, it is not an easy thing for business organizations to predict what will happen next, and how things will get changed. The technology is making a viable impact on the business environment and changes are more rapid and uncertain in so many ways (Trivikram, 2016). The business environment is also changed with the essence of its relevance with different factors. For instance, the business environment of a certain region will be varying company to company, as well as, industry to industry. If a report will be issued against fast food, then people will start consuming organic and hygienic food, which shows the element of relevancy making an impact on business (Samiksha, 2020). The business organizations will have to look at these features and elements if they want to survive in a competitive business environment. If they will not hold a proactive approach to understanding their business environment, they will not be able to deal with risks and find new opportunities. They will also lose various competitive advantages. So, it is imperative for organizations to stay active and focused to keep an eye on their business environment, and if any changes are huge in impact, then they should adjust with those changes as quickly as possible (Shaikh, 2010)

Conclusion of The Internal and External Environment of the Canadian Business Environment

After discussing some salient features and elements associated with the business environment, it can be concluded that things are quite challenging when a business environment is kept in mind, and same is the case with the Canadian business environment. There are so many continuous challenges for businesses to handle when they deal with their internal business activities. The internal factors can be in control of a business environment, but external factors are not in control of the business organization, and this is where they have to face a variety of issues.

References of The Internal and External Environment of the Canadian Business Environment

Business Jargons. (2020). Business Environment. Retrieved May 15, 2020, from https://businessjargons.com/business-environment.html

DYER, L. M., & ROSS, C. A. (2008). Seeking advice in a dynamic and complex business environment: Impact on the success of small firms. Journal of Developmental Entrepreneurship, 13(2), 133-149.

Karakowsky, L., & Guriel, N. (2014). The Context of Business: Understanding the Canadian Business Environment. Pearson Education Canada.

Samiksha, S. (2020). The Features of Business Environment (7 Features). Retrieved May 15, 2020, from http://www.yourarticlelibrary.com/business-environment/the-features-of-business-environment-7-features/8644

Shaikh, S. (2010). Business Environment, 2/E. Pearson Education India.

Trivikram, S. (2016). How to Handle Uncertainty in Business. Retrieved May 15, 2020, from https://myventurepad.com/handle-uncertainty-business/