ABSTRACT
The task of management is to match the internal resources of the firm with the external requirements of the market. By first looking outwards, observing the market, measuring and evaluating it, management should then look inwards and make such provision and changes as are necessary to ensure that what the firm does is what the market wants. As the markets change, so must the firm. Viability and success depend on the firm’s ability to convert market information into productive value. A failure to do this will result in the firm not having the capacity or expertise inside the firm to respond to change and the new demands of the market from outside the firm. The competitive advantage of the firm depends upon the ability of the business to do just this, to respond quickly and effectively to the market.
