Question

'SK Builders' became the market leader in the designer house segment as it was the first to recognise 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:

Options

• It helps to identify threats and early warning signals.

• It enables the firm to identify opportunities and getting the first mover advantage.

• It helps in tapping useful resources.

• It helps in improving performance. 

Answer 1

It enables the firm to identify opportunities and getting the first mover advantage.

Explanation:

SK Builders realized the chance of using Artificial Intelligence in house design and acted on it first, obtaining a market advantage. This highlights the need to stay aware of and sensitive to the business environment in order to capitalize on new opportunities.