Read the following statements and choose your correct answer.
Assertion: A firm which is conscious about its environment can take better advantage of the opportunities instead of losing them to the competitors.
Reasoning: External environment provides numerous opportunities for business units.
Answer & explanation
Correct answer: option 1
Both Assertion (A) and reasoning (R) are correct, and R is the correct explanation of A.
A firm that is aware and conscious of its external environment is indeed better positioned to identify and capitalize on opportunities.