Pls answer this question....

Dear student,
The solution/s to your question no. 26 has been provided below:
The concept discussed in the above paragraph is business environment. It refers to the forces, factors and institutions with which the businessman has to achieve its objectives. In general words we can say business environment is the surroundings in which business exists.

Importance of business environment:
The understanding and awareness of business environment is must for every business man as ignorance about business environment can through the business man out from the market. Proper for the businessman and these benefits are:
1) Enables the firm to identify opportunities and getting first mover advantage- The businessman who are able to understand and scan the opportunities of business environment at early stage they get maximum benefit or they can capture a big share in the market. They can go much ahead of their competitors.
2) Helps the farm to identify the threats and early warning signals- The businessman who are able to scan and understand the business environment on time get a warning signal to deal with the constraints for the negative policies of business environment. Timely scanning of business environment and qualitative information which businessman get is taken as warning signal and changes in the companies are made.
3) Help to adjust and adapt with the rapid changes- Today changes are taking place very fast and these changes have great impact on business. So it is essential to understand these changes are early as possible. Business environment scanning helps the company's to scanned and understand these changes with environment scanning.
4) Improvement in performance- With continuous scan of business environment, companies can easily improve their performance. By making changes in the internal environment matching to external environment, organisations can prosper and improve their market share.
 
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