Correct Answer: Both internal and external factors

Solution : The correct answer is (c) Both internal and external factors

The nature of management is shaped by a combination of internal and external factors. Internal factors include the organization's structure, culture, resources, and personnel, while external factors encompass the broader business environment, such as market conditions, technological advancements, legal and regulatory frameworks, social and cultural trends, and economic factors. These internal and external factors interact and influence the management practices and approaches employed within an organization. Managers must consider and adapt to both internal and external factors to effectively navigate the dynamic business landscape and achieve organizational objectives. Therefore, the nature of management is influenced by both internal and external factors.