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in Business Studies by (66.9k points)

Explain 5 benefits of understanding business environment?

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(1) It enables the firm to identify opportunities and getting the first mover advantage 

(2) It helps the firm to identify threats and early warning signal 

(3) It helps in tapping various useful resources 

(4) It helps with copping with rapid changes\sensitive the management 

(5) It helps in planning and policy formulation. 

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