Which of the following is nature of the business environment?
(i) Multifaceted
(ii) Uncertain
(iii) Dynamic.
Select the correct answer from the options given below.
Which of the following is nature of the business environment?
(i) Multifaceted
(ii) Uncertain
(iii) Dynamic.
Select the correct answer from the options given below.
The correct option is D (i), (ii) & (iii)
Business environment refers to the forces, factors and institutions with which the businessman has to deal with in order to achieve its objectives. It has the following nature:
1. Multifaceted: All the forces and factors of business environment are inter-related to each other due to which it becomes a multifaceted factor for a business.
2. Dynamic: Business environment is highly flexible and keeps on changing. So it is not static or rigid in nature and it need to be monitored continuously due to its dynamic nature.
3. Uncertain: As business environment change very fast and continuously, it is very difficult to predict the changes of business environment. Therefore, it is highly uncertain.
Business environment refers to the forces, factors and institutions with which the businessman has to deal with in order to achieve its objectives. It has the following nature:
1. Multifaceted: All the forces and factors of business environment are inter-related to each other due to which it becomes a multifaceted factor for a business.
2. Dynamic: Business environment is highly flexible and keeps on changing. So it is not static or rigid in nature and it need to be monitored continuously due to its dynamic nature.
3. Uncertain: As business environment change very fast and continuously, it is very difficult to predict the changes of business environment. Therefore, it is highly uncertain.
