INTRODUCTION TO ENTREPRENEURSHIP
IMPORTANCE OF ENTREPRENEURSHIP IN ECONOMIC DEVELOPMENT
|
Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
|
|
|
change customers’ attitudes.
|
|
|
respond to opportunities and threats quickly,
|
|
|
save money.
|
|
|
control the external environment.
|
Detailed explanation-1: -Why is environmental scanning important? 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-2: -Continuous scanning allows a business to act quickly when necessary and be ready to take advantage of opportunities before competitors do. It also prepares a business against environmental dangers before notable damage is done.
Detailed explanation-3: -A SWOT analysis is a common method of environmental scanning. SWOT stands for strengths, weaknesses, opportunities and threats. When performing a SWOT analysis, the marketing department of an organization must look internally at the company’s strengths and opportunities and externally at its weaknesses and threats.
Detailed explanation-4: -Market research. Expert opinion. SWOT analysis. PESTLE analysis. Industry analysis. Internal components of business environments. External components. How often should an environmental scan take place? More items