Why must successful managers recognize opportunities and threats in their company external environment?
A) If they miscalculate the market, opportunities will be lost.
B) If they misread the market, they are likely to become rich.
C) If they identify all of the environmental threats, they are guaranteed to acquire large market share.
D) If they identify all of the environmental opportunities, they are guaranteed to acquire large market share.

Question

Quizplus · Accepted Answer

Successful managers must recognize opportunities and threats in their company external environment. They must be aware of what is going on outside their company. If they focus exclusively on the efficiency of internal operations, the firm may degenerate into the most efficient producer of buggy whips, typewriters, or carbon paper. But if they miscalculate the market, opportunities will be lost.

Why Must Successful Managers Recognize Opportunities and Threats in Their