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Question 10
Which of the following is an external source of change for a business? (A) Increase in consumer spending power (B) Modification of its marketing campaign (C) The ... show full transcript
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Answer
An external source of change refers to factors or influences that occur outside the business and can impact its operations or strategies. In this case, we need to determine which option reflects an external factor rather than an internal change.
Option (A): Increase in consumer spending power is an external factor as it reflects the economic environment affecting consumer behavior.
Option (B): Modification of its marketing campaign is an internal decision made by the business, so it is not external.
Option (C): The decision to market its product using e-commerce is also an internal decision by the business, focusing on its own strategies.
Option (D): Provision of electronic payment facilities for customers refers to an internal action to enhance customer experience, not an external change.
Thus, the correct answer is (A) Increase in consumer spending power.
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