Question:
”It may be difficult to know the extent of the relative impact of the social, economic, political, technical or legal factors on change in demand of a product in the market.” Identify the feature of Business Environment from the given statement.
”It may be difficult to know the extent of the relative impact of the social, economic, political, technical or legal factors on change in demand of a product in the market.” Identify the feature of Business Environment from the given statement.
Updated On: Mar 27, 2025
- Complexity
- Relativity
- Uncertainty
- Inter-Relatedness
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The Correct Option is C
Solution and Explanation
The feature of uncertainty in the business environment arises because the impact of various external factors, such as social, economic, political, and technical changes, is difficult to predict. These unpredictable changes can create risks and challenges for businesses, making it essential for organizations to stay flexible and adaptable to respond to evolving circumstances.
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