State any four points in which motivation can be seen by.
Answers
Answer:
(i) It enables the firm to identify opportunities and getting the first mover advantage: Analysis of business environment helps to identify opportunities i.e., positive external changes to be exploited first instead of losing them to competitors.
(ii) It helps the firms to identify threats and early warning signals: A study of business environment helps an enterprise to identify threats i.e., negative signals that hinder business performance and to take appropriate preventive measures on time.
(iii) It helps in tapping useful resources: A business enterprise depends on environment as a source of input like raw materials, Iabour etc. and as an outlet for output i.e., goods or services, taxes, etc. Analysis helps to get resources that it needs to convert into outputs which an environment desires.
(iv) It helps in coping with rapid changes: It helps management to become more sensitive to ever changing needs of customers. As a result, they are able to respond to such changes effectively.