Question

In external environment, favorable factors and trends are classified as

Answer 1

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Answer 2

In the external environment, favorable factors and trends are classified as an opportunity.

Opportunity:

• External elements that can provide a competitive edge to a company are referred to as opportunities.
• External opportunities allow a company to improve its performance and get a competitive edge in the marketplace.

Example:

• A vehicle manufacturer can export its cars into a new market if a government lowers tariffs, increasing sales and market share.