What is Environment Scanning ?
‘Environment Scanning’ refers to the monitoring of a company’s daily activities to identify growth opportunities, the current trends as well as assess the risks involved in the daily working of the company.
It could be conducted to assess a wide variety of reasons. For example, some aspects of environmental scanning would look for legal issues and identify the best practices to be employed.
Similarly, it also helps in assessing the existing technology of a company and analyzing it with the competition to bridge any technological gaps. Sometimes, environmental scanning might be conducted to understand and cater to the expectations of the employees.