Which of the following best describes the term 'business ecosystem'?
Practice Questions
1 question
Q1
Which of the following best describes the term 'business ecosystem'?
A network of organizations and individuals that interact with a business
The internal structure of a company
A financial model for business operations
A marketing strategy for customer engagement
A business ecosystem refers to a network of organizations and individuals that interact with a business, influencing its operations and success.
Questions & Step-by-step Solutions
1 item
Q
Q: Which of the following best describes the term 'business ecosystem'?
Solution: A business ecosystem refers to a network of organizations and individuals that interact with a business, influencing its operations and success.
Steps: 5
Step 1: Understand that a business ecosystem is like a community.
Step 2: Recognize that this community includes different organizations and people.
Step 3: Know that these organizations and individuals interact with a business.
Step 4: Realize that their interactions can affect how the business operates.
Step 5: Understand that these interactions can also influence the success of the business.
