BUSINESS ADMINISTRATION
BUSINESS ECONOMICS
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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Which of the following situations would most likely indicate the need to adapt to changes in the business environment?
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The supply of materials used in manufacturing a product has decreased
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The demand for your product is stable
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The business has experienced little employee turnover during the past year
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The number of your business’s competitors has decreased
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Explanation:
Detailed explanation-1: -Businesses that successfully adapt to current market situations often realize that: change is an opportunity.
Detailed explanation-2: -A monopoly is a market structure that consists of only one seller or producer. A monopoly limits available substitutes for its product and creates barriers for competitors to enter the marketplace.
Detailed explanation-3: -Although many things can affect the choice of an appropriate structure for an organization, the following five factors are the most common: size, life cycle, strategy, environment, and technology.
There is 1 question to complete.