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.

2. Trends

Not just to see the past events are effective but to establish the trends on the basis of events is also very important because this is important factor of business environment scanning. Suppose, you have to take decision relating to your vegetable prices, you have all the past market price data of same vegetable. Now, you will make a trend graph. If there is an increasing trend, you will fix your vegetable price according to this.

3. Issues 

Issues are also important factor of business environment scanning. As a good businessman, you have to scan both cold and burning issues on daily basis. For example, I can tell you following business issue which I studied today newspaper.

a) European union wrote down a 50% of Greece's debts.

b) Sony Corp. buys Sony  Erickson mobile phone joint venture for $ 1.45 billion.

c) Rajat Gupta is being charged for insider trading.

d) Bharti Airtel's urgent request failed.

4. PESTEL analysis

It means political , economical, social and technological analysis. We scan following updates in it.

  • Changes in Taxation Policy
  • Changes in Trade regulations
  • Changes in Governmental rules 
  • Changes in Unemployment Policy etc.
  • Changes in Inflation rate
  • Changes in Growth in spending power
  • Changes in  a pensionable age, suppose in Italy, pensionable age will be 67 years in 2026.
  • Technological changes
  • New or improved distribution channels
  • Improved communication and knowledge transfer etc.
  • moral factor
  • Laws on
  • Waste disposal
  • Energy consumption
  • Pollution monitoring etc.
  • Unemployment law
  • Health and safety
  • Product safety
  • Advertising regulations
  • Product labelling etc.



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Business Education: Factors of Environmental Scanning
Factors of Environmental Scanning
Business Education
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