Environmental scanning is the seeking and use of information about events, trends and relationships in an organization’s external environment, the knowledge of which would assist management in planning the organization’s future course of action.
ES = CI + KM
CI (Competitor information) = Being well informed, alert, vigilant about threats and opportunities.
KM = Creating new knowledge, understanding, innovative, proactive.
ES = IS + OL
IS = Information Seeking
OL = Organizational Learning
There are basically four board reasons why we scan the environment: