1.Uncertainty
2.Complexity
3.General forces
4.lnter-relatedness
5.Relativity:
Definition for these pts
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Answers
1) U = Uncertainty: the lack of predictability, the prospects for surprise, and the sense of awareness and understanding of issues and events.
2)C = Complexity: the multiplex of forces, the confounding of issues, no cause-and-effect chain and confusion that surrounds organization.
3)GIVEN ALERADY BY ME IN PERVIOUS ANSWER
4) AND 5) DON'T KNOW
I AM HONEST I DONT WANT TO SPAM 4 AND 5
Uncertainty simply means the lack of certainty or sureness of an event. In accounting. Since it is much harder to make financial decisions during times of uncertainty, many company owners refrain from making one to avoid creating problems.
Complexity refers to the number of elements in the organization's environment and their connections. In a highly complex environment there are many variables that can affect the company. Complexity can be modeled with chaos theory, where small changes in one factor can produce a major change in another.
General forces such as economic, social, political, legal, natural and technological conditions influence all business enterprises. Specific forces such as investors, customers, competitors, suppliers, etc. affect individual enterprises directly.
Interrelatedness is the different factors of business environment are co-related. For example, let us suppose that there is a change in the import-export policy with the coming of a new government.
'Relativity' as one of the characteristics of business environment. It means that business environment is related to the local conditions. It refer to such an economic process through which some public sector undertaking is brought either partially or completely under private ownership.
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