"In business, accounting and financial statements are the means for communicating the numbers. If you don't know how to read financial statements, you can't really know your business"

The statement is: True.

Explanation:

Accounting is the activity by which companies record their economics transactions so they can analyze what the flow of the business is and take more educated decisions on what operating course to follow. The results of the accounting activity of an organization are summarized in its Financial Statements.

Managers must have the ability to know how to read that document otherwise they will not be able to identify the improvement areas of the firm neither the factors that can be exploited to maximize profits.

answer; ///(d); determining who competes most closely   with whom evaluating whether industry driving forces and competitive pressure favor some strategic groups and hurt others, and ascertaining whether the profit potential of different strategic groups varies due to the strengths and weaknesses in each groups respective market positions;