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Question
Twinkle Stars' is a well-known resort for organizing parties, especially for children. However, in past 6 months its popularity has reduced considerably as a new resort with better ambience and facilities has opened within its vicinity. Name the related feature of business environment which has influenced the business of ‘Twinkle Stars’ adversely.
Options
Totality of external forces
Dynamic nature
Interrelatedness
Uncertainty
Relativity
Complexity
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Solution
Dynamic nature
Explanation:
The feature of “Dynamic nature” of the business environment refers to the fact that it is constantly changing due to new developments, innovations, competition, consumer preferences, etc.
In this case:
- A new resort with better ambience and facilities opened nearby.
- This caused a shift in customer preference, leading to a decline in popularity of Twinkle Stars.
This reflects how business conditions are not static, and how businesses must adapt to changes to stay competitive.
