Practicing Success
Why is early identification of opportunities crucial for an enterprise? |
To avoid competitors To be the first to exploit them To share them with competitors To delay the implementation of strategies |
To be the first to exploit them |
Opportunities refer to the positive external trends or changes that will help a firm to improve its performance. Environment provides numerous opportunities for business success. Early identification of opportunities helps an enterprise to be the first to exploit them instead of losing them to competitors. For example, Maruti Udyog became the leader in the small car market because it was the first to recognise the need for small cars in an environment of rising petroleum prices and a large middle class population in India. |