Question: Question 5 (25 marks) Read the case below and answer the questions that follow: Understanding of environment by business managers enables them not only to

Question 5 (25 marks)

Read the case below and answer the questions that follow:

Understanding of environment by business managers enables them not only to identify and evaluate, but also to react to the forces external to their firm. In light of the statement, explain by giving any five points why in the present-day competitive market, it is essential for a business enterprise to remain alert and aware of its environment.

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