STATE SIX IMPORTANCE OF BUSINESS

IMPORTANCE OF BUSINESS

1. The interaction of the business and the environment will determine the opportunities and threats the business will be exposed to.
2. It helps to identify the strength and weakness of an organisation in relation to global development.
3. It helps the firm to analyse the competitor’s strategy.
4. It will assist business organisation in improving its image to the society.
5. It will assist managers in updating his knowledge, understanding and skills.
6. It will assist in identifying the areas for growth and expansion of their activities.