BACHELOR OF BUSINESS ADMINISTRATION

Detailed explanation-1: -Assessing: is the process of determining the timing and importance of environmental changes and trends that impact a firm’s strategies and their management.

Detailed explanation-2: -An environmental analysis helps organizations identify internal and external elements that can either negatively or positively impact their business. By looking at factors, such as the economy and technology, businesses can anticipate potential opportunities and threats.

Detailed explanation-3: -Environmental forecasting. Forecasting involves estimating future events based on the analysis of the current and past events. Forecasting in environmental analysis is concerned with developing arguable projections of the direction, scope, and intensity of the environmental change which affects the business.

Detailed explanation-4: -Environmental scanning includes both looking at information (viewing) and looking for information (searching). Research in organization science suggests that it might be helpful to distinguish between four modes of organizational scanning: undirected viewing, conditioned viewing, informal search and formal search.