SELECT * FROM question_mgmt as q WHERE id=10873 AND status=1 SELECT id,question_no,question,chapter FROM question_mgmt as q WHERE courseId=3 AND subId=20 AND chapterId=592 and ex_no='4' AND status=1 ORDER BY CAST(question_no AS UNSIGNED)

Question: Explain the importance of the business environment in decision-making.

Answer:

The business environment plays a critical role in decision-making as it helps businesses anticipate external factors that can influence their operations. For instance:

  • Identifying Opportunities: By analyzing economic trends or market conditions, businesses can identify growth opportunities, such as entering new markets or launching new products.
  • Threat Management: Awareness of competitors, legal constraints, and political risks enables businesses to take proactive steps to manage threats.
  • Resource Optimization: Understanding the socio-economic environment helps in optimizing the allocation of resources, reducing waste, and maximizing efficiency.
  • Adaptability: Companies that continuously monitor changes in the business environment can adapt more effectively, ensuring long-term sustainability.


< Previous Question

Next Question >

SELECT ex_no,question,question_no,id,chapter FROM question_mgmt as q WHERE courseId='3' AND subId='20' AND ex_no!=0 AND status=1 and id!=10873 ORDER BY views desc, last_viewed_on desc limit 0,10

  • Popular questions of class 12 Business Studies

SELECT ex_no,question,question_no,id,chapter FROM question_mgmt as q WHERE courseId='3' AND subId='20' AND ex_no!=0 AND status=1 and id!=10873 ORDER BY last_viewed_on desc limit 0,10

  • Recently Viewed Questions of Class 12 Business Studies

Comments

  • Answered by Ekta Mehta
  • 4 months ago

Taking Screenshots on your Samsung Galaxy M31s is very easy and quick.

  • Answered by Ekta Mehta
  • 4 months ago

Taking Screenshots on your Samsung Galaxy M31s is very easy and quick.

  • Answered by Ekta Mehta
  • 4 months ago

Taking Screenshots on your Samsung Galaxy M31s is very easy and quick.

Comment(s) on this Question


Important links

Quick Links

Resources

Support