1.7 ENVIRONMENTAL FACTORS LEADING TO CHANGE
Environmental factors are numerous and complex. Some of these factors are static while others are dynamic. One of the most critical challenges is to cope with the environmental dynamics of change which many a time assumes the nature of turbulence.
Just as the life and success of an individual depend on his innate capabilities, including physiological factors, traits and skills and ability to cope with the environment, the survival and success of a business firm depends on its innate strength—resources at its command, including physical resources, financial resources, skills and organisation—and its adaptability to the environment.
Every business enterprise, thus, consists of a set of internal factors ...
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