BUSINESS ADMINISTRATION
BUSINESS ENVIRONMENT
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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Which factor of the External Operating Environment is affected when a rival business makes changes to its product or pricing?
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Customers
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Competitors
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Suppliers
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Interest Groups
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Explanation:
Detailed explanation-1: -Yet it’s critical not to overlook the uncontrollable, external factors that impact a business, such as the economy, politics, competitors, customers, and even the weather. A company’s stability and profitability are interdependent on its ability to quickly identify and respond to changes in the external environment.
Detailed explanation-2: -The external environment definition refers to the factors that affect a company’s operations. The external business environment constitutes business environmental factors such as competitive, economic, social, ethical, political, and global factors.
There is 1 question to complete.