Answer:
Explanation: An example of an external environment when applying the systems theory is the competition in the market. In today's fast-paced business world, organizations operate within a larger system that includes other companies offering similar products or services. This external environment consists of various competitors that directly impact the success and sustainability of a business. Savvy who your competitors are, their strategies, strengths, and weaknesses is essential for survival and growth. By analyzing this external environment, businesses can identify opportunities for differentiation, develop effective marketing strategies, and adapt to changing market conditions. For instance, a clothing retailer needs to constantly monitor its competitors' pricing, product offerings, customer service standards, and promotional activities as these factors significantly influence consumer behavior and ultimately determine market share. Therefore, recognizing competition as an external environmental factor enables businesses to make informed decisions about positioning themselves effectively in the marketplace. In the fast-paced world of business today, a company's external environment is critical to its success and sustainability. One key component of this environment is the competitive landscape. Competitors are other businesses that offer similar products or services, and they have a direct impact on the growth and prosperity of a business. To thrive, it's essential to understand who your competitors are, their strategies, strengths, and weaknesses. By analyzing this external environment, businesses can identify opportunities for differentiation, develop effective marketing strategies, and adapt to changing market conditions. For instance, in the case of a clothing retailer, it's vital to keep a close eye on competitors' pricing, product offerings, customer service standards, and promotional activities. All of these factors greatly influence consumer behavior and ultimately determine market share. Therefore, recognizing competition as an external environmental factor is essential for businesses to make informed decisions about positioning themselves effectively in the marketplace.