Refer to Scenario: Swimco.Swimo develops strategies to systematically monitor the major factors influencing its organization to identify trends that might affect the formulation and implementation of both organizational and HR strategies.What is this process called?
A)environmental scanning
B)environmental sources
C)strategic HR planning
D)strategic planning

Question

Quizplus · Accepted Answer

The process described in the scenario is called environmental scanning, which involves systematically monitoring external factors that could affect the organization's strategy and operations. This includes factors such as economic, technological, and social trends, as well as competitive threats and regulatory changes. Environmental scanning is an important part of strategic planning and helps organizations stay agile and responsive to changes in their external environment. The other options (B - environmental sources, C - strategic HR planning, and D - strategic planning) are related concepts, but do not capture the specific process of monitoring external factors for strategic purposes.