Keeping in view the changes in the consumer demands and preferences ‘ABC Bakery’ has reduced the sugar and fat content in its products. This approach of business shows that management is

An intangible force A group activity A dynamic function A multidimensional activity

A dynamic function

In order to be successful, it is important that a business adapts itself to the changes in the taste and preferences of the consumers. Management is a dynamic function: 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.