Question

Very Short Answer Question:

"Understanding of Business environment gets a first mover advantage."

Discuss.

Answer 1

Enabling the identification of opportunities and getting the first mover advantage:Business environment provides many opportunities to the firms to improve their performance. The firms which are able to scan these opportunities at an early stage get maximum benefit and can leave their competitors behind.

For example, scientific research has come out with an energy efficient light bulb which lasts at least 20 times more than a normal bulb. General Electric and Phillips had identified this discovery and are coming up with their new bulbs.