BUSINESS ADMINISTRATION
STRATEGIC MANAGEMENT
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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Which of the following could be an opportunity?
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Moving into new market segments that offer improved profits
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Damaged reputation
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A new competitor in your home market
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Having quality processes and procedures
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Explanation:
Detailed explanation-1: -Moving into a new market segment that offers improved profits is an opportunity for an organisation. An organisation needs opportunities for it to grow and prosper.
Detailed explanation-2: -Focusing on the viability of financial resources, the skills of the entrepreneurial team, and the competition, this screening helps determine the potential for success in pursuing the idea and can help refine planning.
Detailed explanation-3: -Strength in business is the location of the business The right location and the visibility due to it can attract a large customer base to your organization. It is also easier to procure talent in an ideal location. Areas in which labour is available locally can also reduce costs.
There is 1 question to complete.