Question

Firms should try to achieve __________________ by adapting to changes in external trends and internal capabilities and effectively implementing strategies that capitalize on these factors.

Answer 1

Answer:

Sustained competitive advantage

Explanation:

In order to remain competitive, a firm should from time to time monitor and measure  changes in the external environment such as political ,economic, socio-cultural,legal and other external environmental factors . In response to  these external trends,  a robust internal capabilities should be developed either to reduce  their threats or take advantage of the opportunities as the case may be.

It is very important for the firm to have a system in place that can be used to track changes in external business environment and also measure their possible impact  on the firm.