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External change refers to shifts and developments in the external environment that can affect businesses, such as changes in technology, regulations, or consumer preferences. In today's dynamic market environment, businesses must adapt quickly to external changes in order to stay competitive and relevant. Failure to do so can result in loss of market share, decreased profitability, and ultimately, business failure. Therefore, understanding and responding effectively to external change is crucial for businesses to thrive in today's fast-paced and ever-changing market landscape.

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6mo ago

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