Question : Identify the importance of business environment highlighted in the below case.
Intense global competition, rapid changes in technology, grand loyalty, more demanding customers, etc., Is characterized by tribulent market conditions.
Option 1: Identify opportunities and getting first mover advantage
Option 2: Identify threads and early warning signals
Option 3: Helps in taping useful resources
Option 4: Helps in coping with rapid changes
Correct Answer:
Helps in coping with rapid changes
Solution :
The business environment is getting increasingly dynamic way changes are taking place at a fast pace. In order to effectively cope up with the changes manages must understand and examine the environment and develops suitable course of action for the same.
Hence Option D is correct.
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