Question

Q. No. 1 'Understanding of environment by business managers enables them not only to
identify and evaluate, but also to react to the forces external to their firms.' In light of the
statement, explain by giving any five points why in the present day competitive market, it is
essential for a business enterprise to remain alert and aware of its environment.​

Answer 1

Business environment awareness

Explanation:

- There was a business philosopher's theory. "Goleman's theory of emotional intelligence".

-According to this theory it was important to be emotionally intelligent in regard to self awareness, social awareness in business surroundings.

- So being alert can be related to this theory.

-We must be alert because the business atmosphere is always changing. It is important to keep tabs on what is happening.

-We can be competitive only if we know whats happening in the business world.

-This will help us to get a competitive edge and ample time to do analysis.  

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