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Class 12 Exam  >  Class 12 Questions  >  Which of the following best indicates the imp... Start Learning for Free
Which of the following best indicates the importance of business environment?
  • a)
    Identification
  • b)
    Improvement in performance
  • c)
    Coping with rapid changes
  • d)
    All of the above
Correct answer is option 'D'. Can you explain this answer?
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Most Upvoted Answer
Which of the following best indicates the importance of business envir...
Importance of Business Environment:

Business environment refers to the various external and internal factors that affect the functioning and performance of a business. The importance of business environment can be explained as follows:

Identification:
- The business environment helps in identifying the opportunities and threats that a business faces.
- It also helps in identifying the strengths and weaknesses of the business.

Improvement in performance:
- A good business environment provides a conducive atmosphere for the business to grow and flourish.
- It helps in improving the performance of the business by providing necessary resources, information, and support.

Coping with rapid changes:
- The business environment is dynamic and keeps changing rapidly.
- A good understanding of the business environment helps the business to cope with these changes and adapt to them.

All of the above:
- The importance of business environment cannot be limited to one or two factors.
- It encompasses all the above factors and more.
- A good business environment is essential for the success and growth of a business.

Conclusion:
In conclusion, the importance of business environment cannot be overstated. It plays a crucial role in the functioning and performance of a business. A good understanding and management of the business environment can help a business to thrive and succeed in the long run.
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Community Answer
Which of the following best indicates the importance of business envir...
Importance of Business Environment

Business environment refers to the sum total of all external and internal factors that influence a business. It is essential for businesses to understand the environment in which they operate in order to survive and thrive. The following are the reasons why business environment is important:

Identification:
• Business environment helps in identifying opportunities and threats that a business may face.
• It helps in identifying the strengths and weaknesses of a business.

Improvement in performance:
• Understanding the business environment helps in improving the performance of a business.
• It helps in making informed decisions based on the current trends and changes in the environment.

Coping with rapid changes:
• The business environment is dynamic and keeps changing rapidly.
• Understanding the changes and adapting to them helps in coping with them effectively.

Conclusion:
In conclusion, the business environment is crucial for businesses. It helps in identifying opportunities and threats, improving performance, and coping with rapid changes. Therefore, businesses must keep themselves updated with the changes in the environment to succeed in the long run.
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Similar Class 12 Doubts

Weaver sees hypocrisy in the World Bank as a predictable feature in a large international organization especially when viewed using resource dependency (viewing the competitive environment) and sociological institutionalism (the authorising environment). The Banks emphasis on organizational survival and legitimacy shows itself in its interactions with multiple actors in its competitive and authoritarian environments. Many critics of the Bank simply see the Bank as unable to achieve the goals it sets and help its client states. Weaver however launches into an in-depth description of two "worlds"-the Worlds Bank and the Banks World. The former indicates the complex structure of the Bank including its donor states, client states, its private capital markets and the watchdog Non-Governmental Organisations (NGOs). Weavers examination reveals the various pressures exerted on the Bank and the degree of American influence on the bank.In as much as the Bank is pressured from many sides, Weaver notes a strong degree of operational authority and autonomy in the "Banks World". This stems from the complexity of its operations, some which are not open to extensive review. Second the diversity of member states allows the Bank some autonomy and most importantly, the Bank holds a strong monopoly over development related knowledge. This control of ideas is coupled with a technocratic and economic rationality, reinforced with the influx of Western trained neo-classical economists. Bank ideological coherence is also maintained by the editing of reports to align with neoliberal beliefs. It is within these strong intellectual norms that Weaver examines World Bank reforms. Contrary to some critics, the Bank did engage in reforms in the 1990s. The Strategic Compact arose as a need to transform the Bank back as an effort to re-orientate itself as the premier development agency, after external criticism and an internal evaluation. The first aim of streamlining bureaucracy was easily reached however the aim of being more "poverty focused and accountable" came at odds with the technical, economic and apolitical rationality. New efforts such as listening to clients and conducting consultations clashed with the existing approval culture. Overall, changes occurred but still the approval culture remained strong.Similarly, the focus on good governance was not that effective with apolitical stances amongst staff.Furthermore, the dominating neo-liberal mindset resulted in governance issues framed with economic objectives in mind. Just as with the Strategic Compact, Weaver notes that governance reform challenged the Banks conventional method of conducting business.Weaver does qualify that the constant need to placate the demands of various external groups also hampered Bank reform. She however noted that the Bank deep culture will prevent any productive change. Weaver thus delves away from the normal criticism of the World Bank to explain the reasons of Bank actions and activities.She shed a new light noting that such hypocrisy is a tenet in any large international organisation. In order for any improvement to the World Bank, it is not simply the initiation of change but the need to re work the internal settings of one of the worlds most important development groups.Q. Under which environments does Weaver assess World Banks hypocrisy?

Which of the following best indicates the importance of business environment?a)Identificationb)Improvement in performancec)Coping with rapid changesd)All of the aboveCorrect answer is option 'D'. Can you explain this answer?
Question Description
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