Question

The major sources of uncertainty are richness, dynamism and complexity. How do these affect a large company like JcPenny?

Answer 1

The business environment is dynamic, and it changes every second. The changes in the environment affect every industry in one way or the other. The environment is also uncertain because if three main factors: richness, dynamism, and complexity. The environment has tons of operations and factors that affect adversely as social, political, legal, and environmental factors play a crucial role in affecting the business environment. The environment is also dynamic due to the immediate and sudden changes in these factors. The legal and political factors change because of the change in representatives, and the change in mentality. The economic factors also impact the business environment by making new policies and taking new initiatives. Jcpenny is a company in the clothing industry, which also observed the impact of a dynamic environment. The change in tax rates and the consumers' demand change with the trends in the business environment. The trends also change daily, and the companies have to make changes in the clothes according to the trend. The company performs its operations in America, and the laws and regulations are not cod in the country. Hence, it adds to the difficulty in the business environment. The company should take steps to perform efficiently in the environment. Hence, the company should see all the factors and grab the environment's opportunities to perform in a better way.