Question :
| 1 |
Early identification of opportunities helps an |
A | Business environment helps to identify threats and serve as a warning signal |
| 2 | Business depends on the environment as a source of inputs and as an outlet for output | B | Understanding and examining the environment helps to cope with the significant changes |
| 3 | Turbulent market condition, less brand loyalty, more demanding customers describe today's business environment | C | First mover advantage |
| 4 | In a strategic move towards countering the new entrants in the mid segment, Maruti Udyog increased the production three fold. | D | Business needs to design policies that allow to get the resources it needs |
Option 1: 1- D, 2-C, 3-B, 4-A
Option 2: 1-B, 2-C, 3-A, 4-D
Option 3: 1-C, 2-D, 3-B, 4-A
Option 4: 1-A, 2-B, 3-C, 4-D
Correct Answer: 1-C, 2-D, 3-B, 4-A
Solution :
1. First mover advantage - Maximum benefit or profit by grabbing the opportunity at the earliest.
2. Helps in tapping resources - Collecting right type of resources as per present requirement of business by foreseeing the requirement due scan of business environment.
3. Helps in adapt changes - Bringing changes in your organisation as per changes in environment. Being innovative and adopt latest technology latest method of production etc.
4. Warning signal - Come to know in advance for the coming constraints or threats of business due to scan of environment.
Hence, option 3 is the correct answer.
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