Question

Top management's ability to perceive and respond to changes in the environment or to initiate change and be first to take advantage of a new opportunity indicates the effectiveness of the organization as per the ________ approach.

Answer 1

Answer: This indicate the effectiveness of the organization as per the "EXTERNAL RESOURCES" approach.

Explanation: External resources approach is the way an organization uses it's environmental factors, like market, business location, and so on, to enrich it's business. A manger who is able to perceive changes in it's environment, and uses this changes to make profit for the business, is considered to use external resource approach. It is a managerial skill that gives Managers advantage over it environment.

For instance, a manger who has an external resource approach skill, and manages an ice cream company will increase it's advert and production during summer, because people needs ice cream mostly during summer.

Answer 2

A)external resource

B) transactional

C) internal systems

D) technical

Answer: The EXTERNAL RESOURCE approach.

The external resource approach refers to methods an organisation use in the evaluation of how the organization manages and control their external environment such as the Government, competitors, customers, suppliers, etc.

Some of the indicators of the external resources that can be evaluated include stock price, profitability, return on investment, and the quality of a company's products.