Question

Give any four point of importance of management in prelibalised economy

Answer 1

Explanation:

1. Nature of market was seller based, the seller formed the rules and regulations and people in that time followed it. 

2. Nature of competition was very less as compared to the present. Today, the world is having cut-throat competition. 

3. Source of competition was internal based. (Inside country only) 

4. Main objective of the organisation is to earn maximum profits only.