Business Environment

Quickly browse through questions and notes on related topics. You can also download and read this topic offline.

• Questions
• Summary

The importance of business environment and its understanding by managers can be appreciated if we consider the following facts:

1.  It enables the firm to identify opportunities and getting the first mover advantage. 
2.  It helps the firm to identify threats and early warning signals. 
3.  It helps in tapping useful resources. 
4.  It helps in coping with rapid changes. 
5.  It helps in assisting in planning and policy formulation 
6.  It helps in improving performance.