alleryUnderstanding the business environment helps a firm to:
Aignore all external changes
Bidentify opportunities and get the first-mover advantage
Cavoid making any plans
Dstop competing in the market
Answer & Solution
Correct answer: B. identify opportunities and get the first-mover advantage
Scanning the environment reveals opportunities and first-mover advantage.
Keep practising Principles & Functions of Management
Browse all Principles & Functions of Management questions for AP Intermediate 2nd Year, or explore more Business Studies topics.
Related questions
Order the organising processMatch Fayol's principleThe systematic delegation of authority throughout all levels of an organisation is:Planning is regarded as the ___ function of management because every other function followTap what organising givesMatch the organising termComplete the planning definitionGiving a greater role to the private sector and reducing that of the public sector is call