On the basis of China's reality, to deepen the study on business environment theory and the analysis method and to explore the management theory with Chinese characteristics, is not only the urgent demand of China's business management practice, but also is the requirement of theory development and innovation. The business environment theory forms and develops in pace with the management theory. Generally it produced two perspcetives of closed system and open system and experienced three stages of formation, development (theory jungle) and the attempt to fuse. Up to date, there are eight aspects of flaws in the studies on business environment both in China and abroad. To explore the business environment theory with its own characteristics and hence to establish management theory with Chinese characteristics, we should deepen our study emphatically from such aspects as research object, the definition of general concepts, China's business environment and the characteristics of the relations between business and environment in China, the dynamic analysis and adjust methods of business and environment, etc.