Environmental scanning involves systematically monitoring a company's internal and external environments to identify opportunities, threats, strengths, and weaknesses. It helps organizations effectively utilize resources, constantly monitor environmental changes, and act as an early warning system. Environmental scanning involves political, economic, social, and technological analysis to understand changes in the external environment and their potential impacts. It is a formal, systematic process that goes beyond casual monitoring to explore present realities and future uncertainties facing a company.
Environmental scanning involves systematically monitoring a company's internal and external environments to identify opportunities, threats, strengths, and weaknesses. It helps organizations effectively utilize resources, constantly monitor environmental changes, and act as an early warning system. Environmental scanning involves political, economic, social, and technological analysis to understand changes in the external environment and their potential impacts. It is a formal, systematic process that goes beyond casual monitoring to explore present realities and future uncertainties facing a company.
Environmental scanning involves systematically monitoring a company's internal and external environments to identify opportunities, threats, strengths, and weaknesses. It helps organizations effectively utilize resources, constantly monitor environmental changes, and act as an early warning system. Environmental scanning involves political, economic, social, and technological analysis to understand changes in the external environment and their potential impacts. It is a formal, systematic process that goes beyond casual monitoring to explore present realities and future uncertainties facing a company.
o One component of the global environmental analysis. Environmental monitoring, environmental forecasting and environmental assessment complete the global environmental analysis. o Can be defined as the study and interpretation of the political, economic, social and technological events and trends which influence a business, an industry or even a total market. o Careful monitoring of an organiation!s internal and e"ternal environments for detecting early signs of opportunities and threats that may influence its current and future plans. #n comparison, surveillance is confined to a specific ob$ective or a narrow sector. o Strategic sense is about building a global conte"t for your work, your organisation, your competitive environment and your industry. o Environmental scanning is the art of systematically e"ploring the e"ternal environment to% better understand the nature and pace of change in that environment, and #dentify potential opportunities, challenges and likely future developments relevant to your organisation. o Environmental scanning is what Choo &'(()* calls formal searching, using formal methodologies for obtaining information for a specific purpose. #t is systematic. #t is much more than reading newspapers or industry $ournals, or checking the latest statistics about your market. #t is about e"ploring both present certainty and future uncertainty, and moving beyond what we accept as valid ways of doing things today. o Is the internal and external collection of data to assess current company performance and to forecast future performance. Internal scanning involves an evaluation of the company's performance through analysis of the effectiveness of operations, quality of personnel and financial success. External scanning involves customer satisfaction, review of the marketplace and product, and nationwide and global economic factors. The scanning process can be scheduled for a shortterm specific pro!ect, an ongoing and continuous review or a predetermined time frame. o is a recently developed and increasingly important tool often used in business to examine and forecast the marketplace. #mportance of Environmental Scanning o Effective Utilization of Resources In environment scanning, we find the company's strength and weakness. With these strength and weakness, company can find future risk and opportunities. or reducing risk and getting the opportunities, company can use its resources effectively. o !onstant "onitoring of the Environment or success in #usiness, it is very necessary to keep eye on its changing environment. With environment scanning, we can scan important updates of environment. $ow, #y studying these environment changes, it is very easy to find the challenging way. o Environmental scanning is used as an early warning system for the entity developing and analy"ing the data. #usiness strategies can be planned and implemented based upon the findings of the scans. Innovation in I$T often leads to corresponding advancement in environmental scanning. Source% http://www.ehow.com/facts_7879244_importance-scanning-business-ict-environments.html http://business.svtuition.org/2011/09/importance-of-environment-scanning.html http://www.asaecenter.org/esources/!"ow#etail.cfm$%tem"umber&1119'' http://en.wi(ipe)ia.org/wi(i/*nvironmental_scanning Choo, C.+. &'(()* #nformation ,anagement for the #ntelligent Organisation% -he .rt of Scanning the Environment, .S#S ,onograph Series, ,edford /ew 0ersey.