Asked by
Kshitij Aggarwal
on Dec 13, 2024Verified
Environmental scanning refers to
A) assessing any possible negative impact a firm's activities might have on the local ecology.
B) continually acquiring information on events occurring outside the organization to identify and interpret potential trends.
C) setting up a regular schedule to assess the performance of different divisions within a firm.
D) initiating an internal talent search to identify employees who can think "outside the box" to generate solutions to marketing problems caused by changes in the marketing environment.
E) requiring all employees to spend time outside the office to avoid the "ivory tower" syndrome.
Environmental Scanning
The process of collecting and analyzing information about elements in the external environment that could impact an organization's strategies.
Potential Trends
Emerging patterns or changes in societal, technological, economic, or market sectors that have the possibility to significantly impact the future.
- Recognize the procedure and significance of environmental scanning in adjusting to market fluctuations.
Verified Answer
YH
Learning Objectives
- Recognize the procedure and significance of environmental scanning in adjusting to market fluctuations.
Related questions
A Firm Conducting an Environmental Scan of the Marketplace Might ...
The Purpose of Environmental Scanning Is to ...
Which of the Following Statements Regarding Environmental Scanning Is the ...
The Process of Continually Acquiring Information on Events Occurring Outside ...
Starbucks Entered a Partnership with Keurig Green Mountain to Sell ...