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    Environmental Analysis

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    Prajod Sunny
    Environmental scanning is the process of identifying and monitoring the external factors that may affect a company. It involves scanning the external environment, monitoring key factors, forecasting future changes, and assessing their impact on the organization. This helps companies understand opportunities and threats, inform strategic decision making, and facilitate strategic thinking to counter competitors and prepare for changes.

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    Environmental Analysis

    Uploaded by

    Prajod Sunny
    140 views6 pages
    Environmental scanning is the process of identifying and monitoring the external factors that may affect a company. It involves scanning the external environment, monitoring key factors, forecasting future changes, and assessing their impact on the organization. This helps companies understand opportunities and threats, inform strategic decision making, and facilitate strategic thinking to counter competitors and prepare for changes.

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    Environmental scanning is the process of identifying and monitoring the external factors that may affect a company. It involves scanning the external environment, monitoring key factors, forecasting future changes, and assessing their impact on the organization. This helps companies understand opportunities and threats, inform strategic decision making, and facilitate strategic thinking to counter competitors and prepare for changes.

    Copyright:

    Attribution Non-Commercial (BY-NC)
    Download as PPTX, PDF, TXT or read online from Scribd
    Flag for inappropriate content
    Download as pptx, pdf, or txt
    140 views6 pages

    Environmental Analysis

    Uploaded by

    Prajod Sunny
    Environmental scanning is the process of identifying and monitoring the external factors that may affect a company. It involves scanning the external environment, monitoring key factors, forecasting future changes, and assessing their impact on the organization. This helps companies understand opportunities and threats, inform strategic decision making, and facilitate strategic thinking to counter competitors and prepare for changes.

    Copyright:

    Attribution Non-Commercial (BY-NC)
    Download as PPTX, PDF, TXT or read online from Scribd
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    Download as pptx, pdf, or txt
    of 6

    Study of external factors that affects a company.

    Process of identification of environmental factors and

    its impact on the business.


    Helps to foresee opportunities and threats.

    1)

    Understanding of current and potential changes.

    2) It should provide inputs for strategic decision

    making.
    3)

    It should facilitate strategic thinking.

    Four sequential steps

    1)

    Scanning : General surveillance.

    2) Monitoring : In-depth analysis. 3)

    Forecasting : Projections regarding environmental changes.

    4) Assessment : How environmental changes will affect

    the organization.

    Helps to identify the present and future opportunities

    and threats. Gives a picture of the important factors which influence the business. Helps in identifying risks. Helps in getting details about latest technology. Analyses competitors strategies and helps in formulating effective strategies to counter them. Helps in foreseeing the impact of socio economic changes on the firm.

    Unexpected events. Does not guarantee organizational effectiveness.

    Flaws in practice.
    Too much information. Accuracy.

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