Question : Identify the importance of business environment highlighted in the below case. Timely understanding of environment helps to make suitable changes in the organisation.
Option 1: Identify opportunities and getting first mover advantage
Option 2: Identify threads and early warning signals
Option 3: Helps in taping useful resources
Option 4: Helps in coping with rapid changes
Correct Answer: Identify threads and early warning signals
Solution : Environment awareness helps in organisation to identify threats to its business interest in acts as early warning signal. Timely understanding of environment helps to make suitable changes in the organisation. Hence Option B is correct.
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Question : Identify the importance of business environment highlighted in the below case. ABC auto has made considerable improvements in its two wheelers when other automobile has just entered into the market.
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