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Question
Due to large variety and heavy discounts offered on online sites, more customers have started doing their shopping online, it is making the shopkeepers think afresh about how to retain their customers by changing their traditional style of doing business. Identify the importance of business environment mentioned in the above statement.
Options
It helps in assisting in planning & strategy formulation.
It helps in coping with change.
It helps in continuous learning.
It helps in getting first mover advantage.
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Solution
It helps in coping with change.
Explanation:
The scenario describes a significant shift in the business environment (the rise of online shopping). This change forces traditional shopkeepers to respond and adapt their business style to survive and retain customers, highlighting the importance of the business environment in enabling organizations to cope with change.
