INTRODUCTION TO ENTREPRENEURSHIP
CHARACTERISTICS OF AN ENTREPRENEUR
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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it can be avoided
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It is always changing.
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It consists of the economy and technology.
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It may not affect the business, depending on the industry.
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Detailed explanation-1: -Correct Answer: b) Environmental scanning identifies and interprets potential trends.
Detailed explanation-2: -Environmental scanning is important because it provides information on factors that will affect the organization in the future, allowing leadership to proactively respond to external impacts.
Detailed explanation-3: -Environmental scanning is a process of gathering information about the events and their relationship with the internal and external environment of the organization. The primary aim of environmental scanning is to find out the future prospects of business organization.
Detailed explanation-4: -Environmental scanning means gathering information about all the market which could affect the product or service. By gathering information, the business can find out if there is any competitor already in the market, if not they could be the first one in the market.