What is the acquisition and analysis of events and trends in the environment external to an organization?
A) Private exchange
B) First-mover advantage
C) Environmental scanning
D) Loyalty program

Question

Quizplus · Accepted Answer

Environmental scanning refers to the process of acquiring and analyzing events and trends in the organization's external environment. This helps organizations to adapt to changes in the market, identify potential opportunities and threats, and make strategic decisions to remain competitive. Private exchange is a type of online marketplace for buying and selling goods or services. First-mover advantage refers to the advantage gained by a company that is the first to introduce a new product or service to the market. Loyalty program refers to a marketing strategy where a business rewards its customers for their repeat business or loyalty.

What Is the Acquisition and Analysis of Events and Trends