Refer to the scenario below to answer the following questions.
Dave's Doughnuts (Scenario)
Dave Glazer is the owner of Dave's Doughnuts, a five-store chain of doughnut shops located in the Okanagan region of British Columbia. At weekly management meetings, Dave asks each of the five store managers to report on local trends and new customer requests.
-Dave likes to keep informed about business trends and reads the industry magazine Doughnut Digest every month. Each year he attends the National Conference of Doughnut Makers and updates his managers upon his return. These activities are examples of __________.
A) strategic planning
B) time series analysis
C) environmental scanning
D) corporate espionage
E) forecasting

Question

Quizplus · Accepted Answer

Dave's activities of staying informed about business trends and attending industry conferences indicate that he is engaging in environmental scanning - the process of gathering and analyzing information about the external environment to identify potential opportunities and threats that could impact the organization. This helps Dave stay up-to-date on industry trends and make informed decisions about how to run his business. The other options, such as strategic planning and forecasting, may be facilitated through environmental scanning but do not accurately describe Dave's specific actions in this scenario. Time series analysis and corporate espionage are not relevant to this scenario.

Refer to the Scenario Below to Answer the Following Questions