Question

A firm more conscious about change of _______ can take better advantage of opportunities instead of losing them to competitors​

Answer 1

Answer:

A firm more conscious about change of business environment can take better advantage of opportunities instead of losing them to competitors.

Explanation:

This is related to the point, "It enables the firm to identify opportunities and getting the first mover advantage" in "Importance of Business Environment", Ch. 3, Business Environment.

Opportunities refer to the positive external trends or changes that will help a firm to improve its performance. Environment provides numerous opportunities for business success.

Early identification of opportunities helps an enterprise to be the first to explore them instead of losing them to competitors.

For example, Maruti Udyog became the leader in the small car market because it was the first to recognise the need for small cars in an environment of rising petroleum prices and a large middle class population in India. [tex][/tex]