Question

How is dynamism a very significant characteristics of environment . Explain with examples?​

Answer 1

Nothing stays the same. This underlies strategic management, which seeks to capitalize on change. Of course, rates of change vary, calling for different strategies. Rapid change characterizes dynamic environments -- vigorous marketplace activity, new and evolving products, expanding markets, advancing technology, social revolutions -- and rapid change usually includes uncertainty. To adapt, the small business owner should not only know that fast-moving conditions and some degree of unpredictability represent dynamic environments, but also should know where to look for signs of accelerating change.