Question : Assertion :- Entry of new firms in the market may make an enterprise think afresh about how to deal with the situation.
Reason:- Business environment assist in planning and policy formation.
Option 1: Both assertion and reason are true and reason is correct explanation of assertion.
Option 2: Both assertion and the reason are true but reason is not the correct explanation of assertion.
Option 3: Assertion is true but the reason is false.
Option 4: Assertion is false but reason is true.
Correct Answer: Both assertion and reason are true and reason is correct explanation of assertion.
Solution :
The major strategies or plans and policies in the organisation are formed keeping in mind business environment because the policies and strategies have to be implemented in the presence of environment factors. Entry of new firms in the market may make an enterprise think afresh about how to deal with the situation.
Hence, option 1 is the correct answer.
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