ENTREPRENEURSHIP

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. It is closely related to a S.W.O.T. analysis and should be used as part of the strategic planning process.

Detailed explanation-2: -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-3: -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.

Detailed explanation-4: -There are five main types of environmental scanning: technological, legal, ecological, sociological, and economic (financial).

Detailed explanation-5: -Inform your unit planning. We use a strategic plan so our college or university can prepare for the future. Make the case for planning. Discuss the future of higher education. Support your budget requests with data. Assist in program prioritization and help develop new curricula. 11-Oct-2019