Which of the following is not a component of specific forces included in business environment ?

Technological condition

The correct answer is option (1) : Technological condition

Specific Forces:

Competitors:

• Explanation: Competitors are a specific force that directly impacts a business. The strategies, actions, and market presence of competitors influence a company's competitiveness and market share. Analyzing and understanding competitor behavior is crucial for strategic decision-making.

Suppliers:

•  Explanation: Suppliers are another specific force. The availability, cost, and reliability of inputs provided by suppliers can affect a business's operations and costs. Building strong relationships with suppliers is important for ensuring a smooth supply chain.

Investors:

• Explanation: Investors, including shareholders and financiers, are specific forces that influence a business. Their decisions, such as investments, divestments, or financial support, can impact a company's financial stability and growth opportunities.

Customers:

• Explanation: Customers are a critical specific force. Their preferences, buying behavior, and feedback shape the demand for products or services. Understanding and meeting customer needs are essential for business success.