The strategies which are chosen for a small business are influenced by the entrepreneur's personality, management style, and his/her perceptions of the:

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The strategies chosen for a small business are influenced by the entrepreneur's personality, management style, and his/her perceptions of the opportunities and threats present in the external environment. These external factors include the economic environment, competition, regulatory environment, and technological changes, among others. A small business that is aware of these external factors can develop strategies that will help it to take advantage of the opportunities present in the market and mitigate the threats that may arise. Therefore, choice C is the best option as it highlights the importance of the external environment in shaping a small business's strategy.

The Strategies Which Are Chosen for a Small Business Are