Question : The competitive environment of business includes factors that:
Option 1: Are specific to the organization's internal operations
Option 2: Determine the long-term strategic direction of the organization
Option 3: Are beyond the control of the organization
Option 4: Directly influence the organization's competitiveness
Correct Answer: Directly influence the organization's competitiveness
Solution : The correct answer is (D) Directly influence the organization's competitiveness
The competitive environment of a business includes factors that directly influence the organization's competitiveness. This environment consists of elements such as competitors, suppliers, customers, and other entities that are part of the industry or market in which the organization operates. Understanding and adapting to the competitive environment is crucial for an organization's success, as it involves factors that can impact its market position, market share, and ability to compete effectively in its industry.
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