Political Environment
Political Environment refers to the external forces in which businesses operate that are influenced by government policies, laws, regulations, and stability. These factors can significantly impact business operations, competitive advantage, market structure, and overall industry performance. Political Environment is characterized by elements such as political instability or stability, level of corruption, regulatory framework, taxation policy, and government intervention in the economy. Understanding the Political Environment is crucial for businesses to make strategic decisions, navigate potential risks, and capitalize on opportunities presented by the external environment.