environmental scanning?

Environmental scanning is the ongoing tracking of trends and occurrences in an organization's

internal and external environment that bear on its success, currently and in the future. The results
are extremely useful in shaping goals and strategies.

Creativity is a phenomenon whereby something new and valuable is formed. The created item may
be intangible or a physical object. Scholarly interest in creativity is found in a number of disciplines,
primarily psychology, business studies, and cognitive science
Definition of innovation
1 : a new idea, method, or device : novelty
. 2 : the introduction of something new.
3 Ways to Identify Business Opportunities
Identify Your Pain Points. When searching for potential market needs, start with yourself. ...
Conduct Market Research. Another way to prove whether a business idea is viable is by conducting
market research. ...
Question Processes.
3.Why would you start a business from scratch?
Starting from scratch is also a good option if you're on a limited budget. You can shape your new
business to fit your available capital, such as by operating from home or part-time, as opposed to
meeting the financial requirements of buying a franchise or a going business.

What is the franchising

Franchising is based on a marketing concept which can be adopted by an organization as a strategy
for business expansion

Advantages of franchising for the franchisee

The franchisee is the third-party buyer who purchases the brand rights from the franchisor (the
owner of the brand). The franchisee pays an initial franchise fee to the franchisor for the rights to
use their brand in addition to ongoing franchise fees for marketing, royalties, and more.
1. Business assistance
One of the benefits of franchising for the franchisee is the business assistance they receive from the
franchisor.
2. Brand recognition
A big benefit that franchisees receive when opening a franchise is brand recognition. If you start a
business from scratch, you would have to build your brand and customer base from the ground up,
which would take time.
3. Lower failure rate
In general, franchises have a lower failure rate than solo businesses. When a franchisee buys into a
franchise, they’re joining a successful brand, as well as a network that will offer them support and
advice, making it less likely they’ll go out of business.

4. Buying power
Another benefit of franchising is the sheer size of the network. If you’re operating a standalone
business and need to order products or supplies to make your products, you’re paying more money
per item because your order is relatively small.

5. Profits
In general, franchises see higher profits than independently established businesses. Most franchises
have recognizable brands that bring customers in droves. This popularity results in higher profits
6. Lower risk
Starting a business is risky. This is true whether a business owner is opening an independent
business or purchasing a franchise. That being said, the risk is lower when opening a franchise.
Disadvantages of franchising for the franchisee
While there are many advantages of franchising, it would be remiss to think there aren’t also
disadvantages. Let us explain further.
1. Restricting regulations
While a franchise allows the franchisee to be their own boss, they’re not entirely in control of their
business, nor can they make decisions without taking into account the opinion of the franchisor.
2. Initial cost
While the initial investment of the franchise fee buys a lot of benefits for the franchisee, it can also
be costly—especially if you’re joining a very well-known and profitable franchise. While this often
translates to larger profits, coming up with this initial money can put a strain on any small business
owner.
3. Ongoing investment 
In addition to the initial investment you’ll have to provide to start your franchise, there are
additional, ongoing costs that are unique to franchises
4. Potential for conflict
While one of the benefits of owning a franchise is the network of support you receive, it also has the
potential for conflict
5. Reduced risk 
One of the biggest benefits to the franchisor in a franchise agreement is the ability to expand
without an increase in risk.
1. Loss of complete brand control
When a business owner opens an independent business, they maintain complete control over their
brand and every decision that happens within the business.
2. Increased potential for legal disputes
Any time you enter into a close business agreement with other people, you open yourself to the risk
of legal disputes.
3. Initial investment
While much conversation is devoted to the initial investment that a franchisee must make in the
franchise, that ignores the initial cost that is taken on by the franchisor.