Question

Why it is important for business enterprises to understand their environment? ​

Answer 1

hey!!.

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anwer:-

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it is important for business enterprises to understand their environment by following these reasons:-

1.)It Enables the Firm to Identify Opportunities and Getting the First Mover Advantage:-

Environment provide numerous opportunities for business. Early identification of opportunities helps an enterprise to use it before instead of losing them to competitors.

(ii) It Helps the Firm to Identify:-

Threats and Early Warning Signals Environmental awareness can help managers to identify various threats on time and serve as an early warning signals.

(iii) It Helps in Tapping Useful Resources :-

Environment is a source of various resources for running a business. To engage in any type of activity a business enterprise assembles various resources called inputs. This can be done better by understanding what the environment has to offer.

hope help u!!

Answer 2

Enterprises is person who understands risk and bear uncertainty to produce a commodity. an entreprises cimbines his factor of production like land ,labour,raw material , capital etc.

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