BACHELOR OF BUSINESS ADMINISTRATION

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BUSINESS ADMINISTRATION

STRATEGIC MANAGEMENT

Question [CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
____ is the process of monitoring the events and evaluating trends in the external environment, to identify both present and future opportunities and threats that may influence the firm’s ability to reach its goals.
A
environmental scanning
B
perceptual mapping
C
industry analysis
D
competitive analysis
Explanation: 

Detailed explanation-1: -Environmental scanning is a process that systematically surveys and interprets relevant data to identify external opportunities and threats that could influence future decisions.

Detailed explanation-2: -Environmental scanning is the continual analysis of the environment inside and outside of an organization. It’s used to evaluate potential opportunities, threats, market trends and lessons that can affect the company.

Detailed explanation-3: -Environmental scanning is the process of gathering information about events and their relationships within an organization’s internal and external environments. The basic purpose of environmental scanning is to help management determine the future direction of the organization.

Detailed explanation-4: -Environmental scanning is the ongoing tracking of trends and occurrences in an organization’s internal and external environment that bear on its success, currently and in the future. The results are extremely useful in shaping goals and strategies.

Detailed explanation-5: -Environmental scanning is a process used by organizations to monitor their external and internal environments.

There is 1 question to complete.
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