External environment refers to those factors outside the business These factors by and large are beyond the control of  a business and hence uncontrollable.
e.g economic, political and socio-cultural factors.

(i) Mixed economy is a combination of both state owned and private sector ownership.
(ii) The economic policies of a nation Monetary policy, fiscal policy, Export import policy, Industrial policy Trade policy, Foreign exchange policy etc are part of the economic environment.

V- Volatility ,     U-Uncertainly
C-Complexity,  A - Ambiguity

1. GST is the indirect tax levied on goods and services across the country.
2. It is a comprehensive, multi-stage, destination based tax that is levied on every value addition.

1. Corporate governance is a set of rules and policies which governs a company.
2. It provides a frame work for managing a company and achieving its objectives.
3. It gives guidelines for internal control, performance measurement and corporate disclosure.

1. Internal environment refers to those factors within an organisation e.g Policies, Programmes, Organisational structure, employees, financial and physical resources.
2. These factors can be changed or altered and hence are known as controllable factors.

According to Bayard O Wheeler Business environment is "the total of all things external to firms and industries which affect their organisation and operations".