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Sayantika ChatterjeeTop Contributor
I am a literature student from University of Calcutta and came here to contribute.
Asked a question 2 years ago

What is environment scanning to you?

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Sayantika ChatterjeeTop Contributor
I am a literature student from University of Calcutta and came here to contribute.

Environment Scanning can be defined as the careful monitoring of an enterprise's internal and external factors which affect the business environment in order to detect early signs of opportunities or threats which might affect the company in the immediate or long run future. 

Our business dynamics are always changing and keeping up with the pace may be tough sometimes. But still, an entrepreneur needs to adapt to the constant change in order to stay in the game. It is about gathering information on changing conditions and incorporate those observations wherever necessary. The right information along with right decision can change the whole path of a company. If one is not aware of the changing environment, he or she is bound to fail.