Term Paper on Business and Its Interrelatedness with the Environment.

Only available on StudyMode
  • Download(s) : 154
  • Published : September 2, 2011
Open Document
Text Preview
Nigerian Business Environment (BUS 221)
Assignment Topic: Term paper on business and its interrelatedness with the environment.

Student Name:


University of Lagos

BUS 221 Assignment – The interrelatedness of business and its environment –

According to George Santayana, Man is a gregarious animal. Gregarious, in terms of him not being able to exist in solitude but needs and seeks the company and input of others. This has also been said of countries, as is depicted in another popular saying - “no nation is an island”. Of course this is not taken to literally mean that there are no island countries (countries wholly confined to an island), but that no country exists without some kind of interaction, input and even interdependence with other countries.

As it appears, that pattern is not restricted to only individuals and countries but is obviously also true of the business organisation. The business organisation exists and operates in an environment which can be broadly classified into two; the external and internal environments.

The external environment consists of elements and variables which the business has no control over: the economical environment, social environment, cultural environment etc. The internal environment on the other hand, consists of the business’ own key organic functions like the marketing, financial, human resources departments etc.

This paper will very briefly look at business, the business organisation and its relationship (with focus on its interrelatedness) with the overall business environment. How the business organization makes demands on its environment and the environment in return, makes demands on the business – what demands they make of each other and what inputs they receive from each other.

A brief explanation of the meaning of the terms “business” and “the business environment” would make a good starting point.

PETER KALU UKA | University of Lagos


BUS 221 Assignment – The interrelatedness of business and its environment –

What is business?
Business may be viewed as an activity or as an organisation. As an activity, business may be defined as any legal, commercial activity aimed at supplying goods and services for profit. As an institution, it may be defined as a formal organisation involved in the creation and distribution of goods and services for profit. It may take quite a number of forms and sizes; from small sole proprietorships to large corporations.

People have always had varied needs and wants which are provided for by their religious organisation (church, mosque etc.), family, NGO, government (federal, state and local) and of course, businessmen or business organisations. The main difference here is that while business supplies the needs & wants for the primary purpose of making profit, it is not the same with these other organisations and institutions.

Business coexists and operates with all these organisations and institutions and their different and at times conflicting interests, within the framework of a society or community. As business makes demands on society and society in return, makes demands on business, the interplay between the business and the various elements in the community it operates in amounts to the business environment.

The business environment?
Business environment may be defined as the inter-relationship that exists between the business organisation and the community/society (or country, as it were) in which it is sited and operates. And this business ‘environment’ varies from one society and community to another. Depending on what activities the business is involved in, as against the beliefs, expectations and demands of the environment, the business environment may have positive or negative effects on businesses and their activity.

PETER KALU UKA | University of Lagos


BUS 221 Assignment – The interrelatedness of business and its environment –

The business environment is...
tracking img