Environmental scanning

Environmental Scanning

Environmental scanning is the proactive process of collecting and analyzing information on external environmental factors that may have an impact on an organization. This includes identifying and monitoring important forces in the business environment, such as economic, technological, political, and social factors, for trends and changes that may affect the organization’s strategic planning, decision-making, and performance. By continually scanning the environment and staying informed about external changes and trends, organizations can anticipate and respond to threats and opportunities early on, gain a competitive advantage, and ensure long-term success. Environmental scanning is a critical component of any organization’s strategic management process, and it should be done regularly to ensure that the organization remains relevant and adaptive to changing market conditions and operational challenges.