Skip to main content

Introduction to Environment Scanning

Scanning means to check carefully. Environment means group of factors which affect business. Environment scanning means the process which is helpful to check and analyze all the factors which affect business. With this, we can find our risks and opportunities.

In environment scanning, we introduce small level plans and policies for analyzing the future.

Importance of Environment Scanning

1. Effective Utilization of Resources

For success of business, it is very necessary to effective use of its resources without any wasting. With environment scanning, we can find company's weak points and other risks. After this, company can make good plans and policies for removing all these weak points and other risks. After this, it is sure, company will succeed in his life.

2. Constant Monitoring of the Environment

For success, it is also necessary to monitor the environment. After constant monitoring of the environment, we can face the problems due to internal and external factors and solve it on the time.

Comments

.

Popular posts from this blog

Branches of Commerce

Commerce is just like a tree. Following are its main branches.

Technological Environment

Definition of Technological Environment :-


“Technological Environment means the development in the field of technology which affects business by new inventions of productions and other improvements in techniques to perform the business
 work. "

Information Technology Act 2000

Introduction of Information Technology Act 2000

Information technology is one of the important law relating to Indian cyber laws. It had passed in Indian parliament in 2000. This act is helpful to promote business with the help of internet. It also set of rules and regulations which apply on any electronic business transaction.


Due to increasing crime in cyber space, Govt. of India understood the problems of internet user and for safeguarding the interest of internet users, this act was made.

Objective of Business Environment

Following are main objectives of business environment:
1. Knowledge of Information 
By studying the business environment, we can know the changes of business. This information is very useful for our business. Every businessman should aware current environment of business. With this, he can think the future of his business in such environment. 
2. Basis of Decisions 
One of main objective of the study of business environment that it can provide all the information which is needed for taking good decisions. Suppose, you completed your internal business environment study. With this study, you can take decision relating to purchase, sale, salary and price because you know your competitor, you know your suppliers and you know your customers. 
3. Helpful in making of Policies 
For making good business policies, we need to know and scan business through business environment. 
4. Technological Planning 
Today, technology is changing very fastly. 3 years ago, I have to search software for downloading …

Factors of Environmental Scanning

Following are the main factors of environment scanning.


1. Events

Past events of business environment is the main factor of environment scanning. For example, if Govt. has to control food prices, it has to scan every week prices of vegetables, fruits, milk and other food items. For more simplification of price rise, Govt. will calculate wholesale price index.