Understanding business environment to get a first mover advantage is important as if a in the absence of first mover advantage the the possible opportunities could be lost in front of competitors.
Explanation:
First mover advantage -
Awareness of environment helps an enterprise to take advantage of early opportunities instead of losing them to competitors. For example Maruti udyog become the leader in small car market because it was the first to recognize the need of a small on account of rising petroleum prices and the large middle class in India.
