What are the five key dimensions of the broader business environment?
A) customers, vendors, suppliers, wholesalers, and retailers
B) technological, economic, demographic, global, and social dimensions
C) global, social, and technological dimensions, and market forces and value
D) economic, competitive, technological, social, and global dimensions

Question

Quizplus · Accepted Answer

The five key dimensions of the broader business environment are economic, competitive, technological, social, and global dimensions. These dimensions are interrelated and impact the way businesses operate and make decisions. Economic factors include market trends, inflation, and interest rates; competitive factors include the level of competition and market saturation; technological factors include advancements in technology and automation; social factors include changing consumer behaviors and attitudes; and global factors include economic, political, and cultural differences across borders. Understanding these dimensions is critical for businesses to develop effective strategies and remain competitive in their industries.

What Are the Five Key Dimensions of the Broader Business