Who could be more vulnerable to outside influences

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Reference no: EM133674008

Question: Thank you for sharing, Celeste. Moreover, the ability of a business to promptly recognize and react to changes in the external environment is critical to both stability and profitability. It is inevitable that things will change, and an organization's ability to adapt to unforeseen shifts in the market can make the difference between survival and extinction.

Organizations are advised to perform environmental scans annually or semi-annually. This regularity makes sure you are up to date on outside variables that could have a favorable or unfavorable influence on your business. This process isn't exclusive to Fortune 500 companies; small and medium-sized enterprises, who could be more vulnerable to outside influences and lack the established brand recognition and consistent revenue of larger corporations, should pay special attention to it.

Reference no: EM133674008

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