organizational environment consists of both external and internal factors. Environment must be scanned so as to determine development and forecasts of factors that will influence organizational success.
Environmental scanning refers to possession and utilization of information about occasions, patterns, trends,
and relationships within an organization’s internal and external environment. It helps the managers to decide the future path of the organization. Scanning must identify the threats and opportunities
existing in the environment. While strategy formulation, an organization must take advantage of the opportunities and minimize the threats.
A threat for one organization may be an opportunity for another.
Environmental scanning refers to possession and utilization of information about occasions, patterns, trends,
and relationships within an organization’s internal and external environment. It helps the managers to decide the future path of the organization. Scanning must identify the threats and opportunities
existing in the environment. While strategy formulation, an organization must take advantage of the opportunities and minimize the threats.
A threat for one organization may be an opportunity for another.
