In modern conditions, the dynamics of the external environment (market) is a function of technological development, innovation, changes in demand, competition, regulatory mechanisms and cyclical economic development and is a key factor affecting strategic behavior of the company.
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A dynamic environment is a business environment that is changing rapidly. In a dynamic market, companies need to adapt quickly to changes and develop new ideas, products and services to keep up with technology and new trends.
A dynamic environment changes quickly. Managers must react quickly and organizations must be able to react flexibly. Today’s business environment is generally very dynamic. Technology, consumer tastes, laws and regulations, political leaders and international conditions are changing rapidly and dramatically.
An external environment consists of all external factors or influences that influence business operations. The company must act or react to keep its operations running. The external environment can be divided into two types: the micro environment and the macro environment.
Static and dynamic. An environment is dynamic if it changes while an agent is in the process of responding to a perception sequence. It is static if it doesn’t change while the agent decides on an action, i.e. the agent doesn’t need to keep in touch with the time.
The physical and biological environments of an organism interact with each other through the transfer of energy and matter. Change in one of the components, whether biotic or abiotic, causes change in the other. Therefore, the environment is dynamic in nature.
Option C is correct because the dynamic environment includes these factors that change rapidly and frequently. See the full answer below.
THE external environment plays a decisive role in shaping the future of entire industries and individual companies. To keep the company ahead of the competition, managers must continuously adapt their strategies to reflect the environment in which their company operates.
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The big picture of an organization’s external environment, also known as the general environment, is a broad concept that encompasses all of the external factors and influences that affect the operations of an organization and to which an organization is or must respond in order to address them maintain its operations.
In general, there are three main areas of the external environment in companies, including the general environment, the industrial environment and the competitive environment.
External environment. The external environment “consists of those relevant physical and social factors outside the boundaries of the organization or specific decision-making unit that are directly taken into account.” The external environment can be further divided into micro and macro environments
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