5 Questions
What does the success of every business depend on?
Adapting to the environment within which it functions
Which of the following is considered an external factor affecting businesses?
Government policies
What is included in the business environment according to the text?
Customers, competitors, suppliers, government, and social, political, legal, and technological factors
How are some external factors likely to impact a business?
Directly or indirectly
What is the business environment defined as according to the text?
The total surroundings that have a direct or indirect bearing on the functioning of a business
Learn about the importance of adapting to external factors in business, such as government policies and customer preferences, for survival and success. Explore how businesses must adjust to changes beyond their control to remain competitive and relevant.
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