why it is necessary to understand biz. environment.... how does environmental understanding helps in image building?
In response to the first part of your query, you can mention the importance of business environment in this question. Follow the given link and scroll down to the topic 'Importance of business environment' to view the same.
https://www.meritnation.com/cbse/class12-commerce/revision-notes/business-studies/principles-and-functions-of-management/business-environment/682_3721
In response to the second part of your query, business environment helps a company to idendify potential opportunities and threats at any early stage. This makes the business capable of taking the early mover advantage in the market and increase its goodwill accordingly. Also, the awareness regarding economic, social, political and legal environment helps the business to develop its brand name in the market.
https://www.meritnation.com/cbse/class12-commerce/revision-notes/business-studies/principles-and-functions-of-management/business-environment/682_3721
In response to the second part of your query, business environment helps a company to idendify potential opportunities and threats at any early stage. This makes the business capable of taking the early mover advantage in the market and increase its goodwill accordingly. Also, the awareness regarding economic, social, political and legal environment helps the business to develop its brand name in the market.