A firm's attempt to continually acquire information on events occurring outside its organization in order to identify and interpret potential trends is called _____.

Question

Quizplus · Accepted Answer

Environmental scanning involves gathering information on events happening outside the organization to identify potential trends and changes in the market, industry, or society. It is an important tool for strategic planning and decision making. A is incorrect because external planning is a broader concept that includes environmental scanning but also involves developing strategies to respond to external factors. B and D are incorrect because they refer to specific events or circumstances rather than a continuous effort to gather information. E is incorrect because it is too narrow and refers specifically to marketing resources.

A Firm's Attempt to Continually Acquire Information on Events Occurring