Operation of business environment-turbulent and competitive
What are the main reasons that the operation of business environment has become ever more turbulent and competitive?
Expert
There are many reasons which have been recognized to explain such changes which are as follows:
a) Rising sophistication of customers.b) Development of a worldwide economy where national frontiers become less significant.c) Rapid modification in technology.d) The de-regulation of domestic markets (for illustration: electricity, water and gas).e) Rising volatility of the financial markets.
Actual Cost: It is the amount (sum) determined on the basis of cost acquired involving standard cost appropriately adjusted for the applicable variance.
Support Costs: Costs of activities are not directly related with the production. Typical illustrations are the costs of automation support, postage, communications, process engineering, and purchasing.
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