Which term refers to external factors that a business can take advantage of for growth?

• A. Threats
• B. Opportunities
• C. Weaknesses
• D. Policies

Answer: (B)

External factors that a business can take advantage of for growth are opportunities. In strategic planning, opportunities are favorable conditions in the market or environment the company can capitalize on to expand, enter new markets, or introduce new products. These could be trends like rising demand for a product, advances in technology that lower costs, changes in regulations that create new allowed activities, or shifts in consumer behavior that open new customer segments. The emphasis is on external and advantageous possibilities the business can pursue, often by aligning its strengths to these chances. This differs from threats, which are external but harmful and require defense or adaptation; weaknesses are internal limitations; policies are rules or guidelines, not automatic growth drivers.