general (adjective, gen-er-al, \ ˈdʒenrəl \) environment (noun, en-vi-ron-ment, \ ɪnˈvaɪrənmənt \)
Definition: is a set of conditions and circumstances that have a universal effect on everyone in a specific market or area. This type of business environment is comprised of the economic, judicial, technologic, governmental, demographical, social, and several other external factors. The general environment determines a company’s capability to manufacture and deliver its products or services and is able to increase or decrease the organization’s profitability depending on the specific changes that occur in it.
In a Sentence:
- Due to the poor harvest, the general environment for companies that operate in the food industry has changed dramatically.
- After Terence Pillman became the head of the IRS, the general environment in the business world is destined to change.
- With the implementation of the latest law regulating the export of goods out of the US, the general environment in several industries should change for the better.
Synonyms and related words: technological environment, external environment, internal environment, market controlled price environment
