Which term refers to potential favorable conditions that a business may exploit in the future?

The term "Opportunity" refers to potential favorable conditions that a business can leverage to gain a competitive advantage or enhance its performance in the future. In a business context, opportunities arise from various external factors such as market trends, changes in consumer preferences, technological advancements, or shifts in government policies that can positively influence a company's growth or profitability. By identifying and seizing these opportunities, businesses can innovate, expand their market presence, or improve their operations, ultimately contributing to long-term success.

The other options represent different aspects of a business's internal or external environment. Strengths are internal attributes that provide an advantage, weaknesses highlight areas for improvement, and threats are external challenges that could harm the business. Understanding opportunities allows businesses to focus on strategic planning and proactive measures to maximize their potential in the marketplace.