Give one word/phrase/term for the following sentences.

1) Uncontrollable factors of the business environment.
Ans:- External business environment.

2) The environment of business that includes customs and traditions, values, social trends.
Ans:- Social environment

3) The process of transferring ownership of business enterprise, agency or public service
from the public service to private sector.
Ans:- Privatisation.

4) A boundary less world where there would be free flow of goods, services, information,
capital and people across nation.
Ans:- Globalization.