Question

‘SK Builders’ became the market leader in the designer house segment as it was the first to recognize the need of using Artificial Intelligence in designing houses in the changing environment of technological advancement. This highlights the following point of importance of business environment:

• A. It helps to identify threats and early warning signals.
• B. It enables the firm to identify opportunities and getting the first mover advantage.
• C. It helps in tapping useful resources.
• D. It helps in improving performance.

Answer 1

The Correct Option is B

Step 1: Business environment analysis helps firms identify emerging opportunities. By leveraging technological advancements, businesses can gain a competitive edge. Step 2: In this case, ‘SK Builders’ recognized an opportunity early, giving them the first-mover advantage in the market. Thus, the correct answer is option B.