Final answer:
Enabling conditions refer to the key factors, such as economic, legal, political, and cultural aspects, required for a business to establish and grow in a specific market environment. These conditions set the foundational environment that influences and supports the operation and growth of businesses.
Step-by-step explanation:
Key elements or factors required for a business to take root and grow in a particular country's market environment are known as enabling conditions. These conditions encompass various aspects of the environment in which a business operates including economic, legal, political, and cultural factors. For instance, a stable political climate, transparent legal systems, and a welcoming business culture can be considered enabling conditions. Other factors such as the level of existing competition, market demand, availability of resources, infrastructure, and the legal framework for property rights are also critical. To further elaborate on the identifying elements of enabling conditions, for a business to thrive, it cannot solely depend on the quality of its products or services. Economic elements such as market size, growth potential, and the purchasing power of potential customers are crucial. Legal and regulatory frameworks set by the government, including protection of intellectual property and fair trade laws, establish the rules of the game. Additionally, social and cultural conditions which may influence consumer behavior and preferences are equally important. Therefore, enabling conditions are fundamental components that contribute significantly to whether or not a business can flourish in a given market environment.