what is the nature of business environment?a)Aggressionb)Relativec)Unc...
The Nature of Business Environment
The business environment refers to the external factors that affect the operations of a business. The nature of the business environment is characterized by different attributes, which are discussed below:
Aggression
Aggression in the business environment refers to the level of competition among businesses. The modern business world is highly competitive, and businesses are always looking for ways to outdo each other. The level of aggression in the business environment is high, with businesses engaging in aggressive marketing strategies to gain a competitive advantage.
Relative
The nature of the business environment is relative, meaning that it varies from one business to another. The business environment is influenced by various factors such as the size of the business, the industry in which the business operates, and the location of the business. Therefore, businesses operating in different environments will have different experiences and challenges.
Uncertain
The business environment is characterized by uncertainty. The external factors that affect businesses are constantly changing, and businesses need to be able to adapt to these changes. Factors such as changes in government policies, economic fluctuations, and technological advancements can have a significant impact on businesses.
Conclusion
In conclusion, the nature of the business environment is characterized by aggression, relativity, and uncertainty. Businesses need to understand the nature of the business environment to develop effective strategies that will enable them to survive and thrive in a highly competitive and uncertain business environment.
what is the nature of business environment?a)Aggressionb)Relativec)Unc...
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.