BUSINESS ADMINISTRATION
BUSINESS ENVIRONMENT
|
Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
|
A business has to offer wider choice in purchasing enhanced quality of goods and services in order to maintain an edge over its competitors. The implementation of the new economic policy with liberalisation, privatisation and globalisation has posed various challenges for the corporate sector. One of the important challenges is explained in the above lines. Identify it.
|
|
Increasing competition
|
|
|
More demanding customers
|
|
|
Necessity for change
|
|
|
Market orientation
|
Explanation:
Detailed explanation-1: -Uncertainty: Business environment is uncertain as it is difficult to predict the future environmental changes and their impact with full accuracy.
Detailed explanation-2: -These forces include investors, social conditions, competitors and suppliers of the business.
Detailed explanation-3: -All illegal activities do not come under the dimensions of a business environment.
Detailed explanation-4: -Image building is not a part of the business environment as it is a process to build the image and not an environmental factor.
There is 1 question to complete.