Which of the following best describes environmental scanning?
A) Forecasting and scanning the likely result that might occur when several events and stakeholders are linked together
B) A tool where key variables are monitored and modeled to help predict a change that might occur in the environment
C) The ability to understand the impact of environmental factors on a firm and the ability to understand how to influence those same factors
D) A tool that managers use to scan the business horizon for key events and trends that will affect the business in the future

Question

Quizplus · Accepted Answer

Environmental scanning is the process of systematically monitoring and analyzing the external environment for opportunities and threats that may affect an organization. It involves gathering information about the external environment, such as economic, political, social, technological, and environmental factors, and analyzing the potential impact of these factors on the organization's operations and strategies. Environmental scanning is a tool used by managers to stay alert to key events and trends that will affect the business in the future.

Which of the Following Best Describes Environmental Scanning