BUSINESS ADMINISTRATION
STRATEGIC MANAGEMENT
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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Scanning
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Monitoring
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Forecasting
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Assessing
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Detailed explanation-1: -Scanning the process entails the study of all segments in the general environment.
Detailed explanation-2: -In particular, PESTEL reflects the names of the six segments of the general environment: (1) political, (2) economic, (3) social, (4) technological, (5) environmental, and (6) legal.
Detailed explanation-3: -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.
Detailed explanation-4: -Answer: The four important factors of environmental scanning are events, trends, issues, and expectations. Events are occurrences which takes place in different environmental sectors of a business.