Pls explain why is it a relative concept?? Because answer should have been dynamic right??
Dear Student,
You are absolutely right that business environment is dynamic in nature. It is dynamic in nature, means it keeps on changing.
Business environment is also relative in nature. The term ' relative concept' is used when we compare or relate one thing to the another. Business environment is a relative concept because its impact and applicability differs when we compare it or relate it on the basis of different countries or different regions. For example, a change in economic environment may be unfavourable for one business and unfavourable for another.
In the above question the answer would be relative concept.
Regards.
You are absolutely right that business environment is dynamic in nature. It is dynamic in nature, means it keeps on changing.
Business environment is also relative in nature. The term ' relative concept' is used when we compare or relate one thing to the another. Business environment is a relative concept because its impact and applicability differs when we compare it or relate it on the basis of different countries or different regions. For example, a change in economic environment may be unfavourable for one business and unfavourable for another.
In the above question the answer would be relative concept.
Regards.