THOUGHT FOR THE DAY

Achievement

“Spectacular achievement is always preceded by unspectacular preparation.”

- Robert H. Schuller

TOPIC OF THE DAY

Environmental scanning

Environmental scanning is a process of gathering, analyzing, and dispensing information for tactical or strategic purposes. The environmental scanning process entails obtaining both factual and subjective information on the business environments in which a company is operating or considering entering.

There are three ways of scanning the business environment:

* Ad-hoc scanning - Short term, infrequent examinations usually initiated by a crisis
* Regular scanning - Studies done on a regular schedule (e.g. once a year)
* Continuous scanning (also called continuous learning) - continuous structured data collection and processing on a broad range of environmental factors


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