Practicing Success
Practicing Success
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| Why is there a need to scan the business environment? |
To determine future viability To gather information of the changing conditions To make innovations Both 1 and 2 |
| Both 1 and 2 |
| In a rapidly changing environment, one rule of thumb applies: If you don't adapt, you don't endure. This is the core idea behind environmental scanning. Definitions of the term refers to the means by which organizations gather information on changing conditions and incorporate those observations into a process where necessary changes are made. The right information, combined with the right adaptations, can determine an organization's future viability. If an entrepreneur is not aware of the environment surrounding his/her business, he/she is sure to fail. |
