...................nature of business environment suggests that environment keeps on changing.

Dynamic nature

The correct answer is option 1- Dynamic nature.

Dynamic nature of business environment suggests that environment keeps on changing.

Dynamic nature: Management is a dynamic function and has to adapt itself to the changing environment. An organisation interacts with its external environment which consists of various social, economic and political factors. In order to be successful, an organisation must change itself and its goals according to the needs of the environment. You probably know that McDonalds, the fast food giant made major changes in its menu to be able to survive in the Indian market.

OTHER OPTIONS

• Management is multidimensional- Management is a complex activity and involves three dimensions namely. Management of work, Management of people and Management of operations.

• Management is pervasive- The activities involved in managing an enterprise are common to all organisations whether economic, social or political. A petrol pump needs to be managed as much as a hospital or a school. What managers do in India, the USA, Germany or Japan is the same. How they do it may be quite different. This difference is due to the differences in culture, tradition and history.

• Management is a continuous process- The process of management is a series of continuous, composite, but separate functions (planning, organising, directing, staffing and controlling). These functions are simultaneously performed by all managers all the time. The task of a manager consists of an ongoing series of functions.