Why is it important for a business to understand its external environment? o It helps a business to maximize its operations cost o It helps a business to copy its competitors It helps a business to develop its business strategies appropriately o It helps a business to remove its competitors from the market Hussain wants to maximize the value of his company. What would you suggest to him? Produce low quality product at high cost o Operate efficient business through high cost for raw materials O Operate efficient business with low operations cost o Operate efficient business with high operations cost