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Standard XII
Business Studies
Importance of Organising
"The understa...
Question
"The understanding of business environment enables the firm to identify opportunity."
What is meant by 'opportunities' here?
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Solution
Opportunities here mean understanding the environment and making out plan according to that.
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"The understanding of business environment enables business firms to identify opportunities".
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The understanding of business environment helps the mangers to identify "threats".
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"A good understanding of environment by business managers enables them not only to identify and evaluate but also to react to the forces external to their firm."
In the light of the above statement explain any four points of importance of understanding business environment by a manager.
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'Understanding of environment by business managers enables them no only to identify and evaluate, but also to react to the forces external by their firms.' In the light of this statement, 'explain by giving any five point why in the present day competitive market; it is essential for a business enterprise to remain alert and aware of its environment.
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Understanding of environment enables a business enterprise to _______.
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