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    Business Environment - Environmental Scanning & Monitoring - Techniques

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    nishant mehta
    The document discusses various techniques for environmental scanning and monitoring in business. It describes SWOT analysis, which identifies internal strengths and weaknesses and external opportunities and threats. It also explains PEST analysis, which examines the political, economic, social and technological external macroenvironment factors impacting a business. Additionally, Porter's five forces model is overviewed, which assesses the competitive environment based on the threat of substitutes and new entrants, and bargaining powers of suppliers and buyers. Finally, the Quick Environmental Scanning Technique (QUEST) is presented as a procedure to help executives comprehensively analyze the external environment and implications for strategy.

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    Business Environment - Environmental Scanning & Monitoring - Techniques

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    nishant mehta
    590 views2 pages
    The document discusses various techniques for environmental scanning and monitoring in business. It describes SWOT analysis, which identifies internal strengths and weaknesses and external opportunities and threats. It also explains PEST analysis, which examines the political, economic, social and technological external macroenvironment factors impacting a business. Additionally, Porter's five forces model is overviewed, which assesses the competitive environment based on the threat of substitutes and new entrants, and bargaining powers of suppliers and buyers. Finally, the Quick Environmental Scanning Technique (QUEST) is presented as a procedure to help executives comprehensively analyze the external environment and implications for strategy.

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    techniques to analyze business environment

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    Business Environment_ Environmental Scanning & Monitoring- Techniques

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    The document discusses various techniques for environmental scanning and monitoring in business. It describes SWOT analysis, which identifies internal strengths and weaknesses and external opportunities and threats. It also explains PEST analysis, which examines the political, economic, social and technological external macroenvironment factors impacting a business. Additionally, Porter's five forces model is overviewed, which assesses the competitive environment based on the threat of substitutes and new entrants, and bargaining powers of suppliers and buyers. Finally, the Quick Environmental Scanning Technique (QUEST) is presented as a procedure to help executives comprehensively analyze the external environment and implications for strategy.

    Copyright:

    © All Rights Reserved
    Download as PDF, TXT or read online from Scribd
    Flag for inappropriate content
    Download as pdf or txt
    590 views2 pages

    Business Environment - Environmental Scanning & Monitoring - Techniques

    Uploaded by

    nishant mehta
    The document discusses various techniques for environmental scanning and monitoring in business. It describes SWOT analysis, which identifies internal strengths and weaknesses and external opportunities and threats. It also explains PEST analysis, which examines the political, economic, social and technological external macroenvironment factors impacting a business. Additionally, Porter's five forces model is overviewed, which assesses the competitive environment based on the threat of substitutes and new entrants, and bargaining powers of suppliers and buyers. Finally, the Quick Environmental Scanning Technique (QUEST) is presented as a procedure to help executives comprehensively analyze the external environment and implications for strategy.

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    of 2

    9/22/2016

    Business Environment: Environmental Scanning & Monitoring- Techniques


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    BusinessEnvironment
    THURSDAY,FEBRUARY17,2011

    EnvironmentalScanning&MonitoringTechniques
    SWOT(StrengthWeaknessOpportunityThreat)
    IdentificationofthreatsandOpportunitiesintheenvironment(External)and
    strengthsandWeaknessesofthefirm(Internal)isthecornerstoneofbusiness
    policyformulationitisthesefactorswhichdeterminethecourseofactionto
    ensurethesurvivalandgrowthofthefirm.
    PESTAnalysis
    Ascanoftheexternalmacroenvironmentinwhichthefirmoperatescanbe
    expressedintermsofthefollowingfactors:
    Political
    Economic
    Social
    Technological
    1.PoliticalFactors:
    taxpolicy
    employmentlaws
    environmentalregulations
    traderestrictionsandtariffs
    politicalstability
    2.EconomicFactors:
    economicgrowth
    interestrates
    exchangerates
    inflationrate
    3.SocialFactors:
    healthawareness
    populationgrowthrate
    agedistribution
    careerattitudes
    emphasisonsafety
    4.TechnologicalFactors:
    R&Dactivity
    rateoftechnologicalchange

    http://vijanbe.blogspot.in/2011/02/environmental-scanning-monitoring.html

    BLOGARCHIVE

    2011(28)
    February(15)
    BUSINESS
    ENVIRONMENT
    MEANINGOF
    BUSINESS
    ENVIRONMENT
    FEATURESOF
    BUSINESS
    ENVIRONMENT
    IMPORTANCEOF
    BUSINESS
    ENVIRONMENT
    COMPONENTSOF
    THEBUSINESS
    ENVIRONMENT
    TYPESOF
    BUSINESS
    ENVIRONMENT
    ECONOMIC
    ENVIRONMENT
    NONECONOMIC
    ENVIRONMENT
    Businesscycle
    Environmental
    Analysis
    Environmental
    Scanning&
    Monitoring
    Techniques
    PoliticalInstitutions
    FundamentalRights
    DirectivePrinciples
    ofStatePolicy
    Rational&Extentof
    StateIntervention
    March(11)
    April(2)

    ABOUTME

    VIJANHARIT
    Viewmy
    completeprofile

    1/3

    9/22/2016

    Business Environment: Environmental Scanning & Monitoring- Techniques

    PortersApproachtoIndustryAnalysis:
    *Acorporationismostconcernedwiththeintensityofcompetitionwithinits
    industry.
    *Thelevelofthisintensityisdeterminedbybasiccompetitiveforces.
    *Inscanningitsindustry,thecorporationmustassesstheimportancetoits
    successofeachofthesixforces.
    CompetitiveStructureofIndustries:
    *Threatofsubstitutes.
    *Threatofnewentrants.
    *Rivalryamongexistingfirms.
    *Bargainingpowerofsuppliers.
    *Bargainingpowerofbuyers.

    QUEST
    TheQuickEnvironmentalScanningTechnique,isascanningproceduredesigned
    toassistexecutivesandplannerstokeepsidebysideofchangeandits
    implicationsfortheorganizationalstrategiesandpolicies.
    QUESTproducesabroadandcomprehensiveanalysisoftheexternal
    environment.
    PostedbyVIJANHARITat1:02AM
    Recommend this on Google

    4comments:
    RATANSARKAR July27,2012at11:58PM
    niceanswer......
    Reply

    NayeemShah November15,2012at5:45PM
    QUESTsnalysisverybreiflyanswered!Restisgood:)
    Reply

    AshishChahar July29,2013at7:11PM
    nice
    Reply

    VIJANHARIT

    April21,2015at4:17AM

    Thankstoallreaders!
    Reply

    http://vijanbe.blogspot.in/2011/02/environmental-scanning-monitoring.html

    2/3

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