The Government is considering a pioneer proposal to launch a single debit-cum- credit card to increase the ease and usage for the consumers. The card which will be called the “National Mobility Card” will have unique advantages for making payments in metro, buses, parking and making transactions during visits abroad. After hearing this news, Mega Bank decided to launch a “Mega Mobility Card” on similar lines , so that they could be the first to exploit the opportunity, arising due to the increasing trend of digitization. In order to improve their performance, they laid down a plan to hire more people in their marketing department and prepared guidelines to train their sales force to market the new card facility being launched by the bank. By quoting the lines, identify and explain any two points of importance of understanding Business Environment discussed above.

Explanation

Following are the points of importance of understanding Business Environment discussed:
1. “Improve existing card facility--------“- It helps the firm in identifying threat and early warning signal."
2. “Exploit opportunity arising-------“ It helps to identify opportunities and get first mover advantage.
3. “Improve their performance---“- It helps in improving performance.
4. “Planned to hire more-----guidelines to train sales force” It helps in assisting in planning and policy formulation.