Business environment

It is both a process and a product and performs an action of gathering, analyzing, applying information about the products, customers and competitors for both short and long term planning needs of an organization. For the business decision making, various informations regarding external business environment are collected, stored and analyzed. Competitive intelligence seeks the early identification of business risks and opportunities before they become obvious so that business strategies are planned and formulated in accordance with the possible happening in the future. It involves competitor analysis as well so that the position of its business could be compared with the potential competitor and the variance can be worked out.

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