Question : Demand for LED TV are increasing day by day. Thus, TV manufacturers have started making LED TVs instead of LCD. Identify the significance of business environment being portrayed in the given case.
Option 1: Helpful in tapping useful resources
Option 2: Helps the firm to identify threats and early warning signals
Option 3: Helps in coping with rapid changes
Option 4: Both 1 and 3
Correct Answer: Helps in coping with rapid changes
Solution :
Businessmen have to supply the goods to market according to the demand in the market. To supply output they need input, raw materials, etc. In the above case, Demand for LED TVs is increasing day by day. Thus, TV manufacturers have started making LED TVs instead of LCDs. They are helpful in coping with rapid changes.
Hence, option 3 is the correct answer.
