Enviromental scanning report 1 diamond glenn vincent p. ong 2011 2012

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Enviromental scanning report 1 diamond glenn vincent p. ong 2011 2012

  1. 1. ENVIROMENTAL SCANNING<br />
  2. 2. DEFINITION<br />Environmental scanning is one component of the global environmental analysis. ENVIROMENTAL/MONITORING, environmental FORECASTING and environmental assessment complete the global environmental analysis. Environmental scanning refers to the macro environment.The global environment refers to the macro environment which comprises industries, markets, companies, clients and competitors. Consequently, there exist corresponding analyses on the micro-level. Suppliers, customers and competitors representing the micro environment of a company are analyzed within the industry analysis.<br />
  3. 3. DEMOGRAPHIC ENVIROMENT<br />The first thing to consider about a place is the size of its population and how it is distributed according to age, employment,sex,interest and other factors.This is called demography.<br />The best way to get information about people living in a community is through a demographic survey.<br />
  4. 4. ADVANTAGES OF ENVIROMENTAL SCANNING<br />YOU WILL HAVE AN IDEA OF THE BEST PRODUCT OR SERVICE TO OFFER.<br />TO KNOW HOW TO IMPROVE YOUR PRODUCTS.<br />TO STUDY POSSIBLE COMPETITIONS.<br />TO HAVE THE MOST IDEAL BUSINESS FOR THE LOCATION.<br />
  5. 5. ANALYZING INDUSTRY<br />
  6. 6. DEFINITION<br />An industry is an economic activity composed of many participating groups.<br />For example:<br /> hog raisers , hog dealers, meat shpos and buyers……….<br />
  7. 7. TWO WAYS TO CONDUCT AN INDUSTRY ANALYSIS<br />By identifying a target market<br />By identifying a need<br />
  8. 8. Business areas consideration<br />
  9. 9. Personal consideration –choose a business that will satisfy your personal goals and interests<br />Marketing considerations – this is where enviromental scanning and industrial analysis come in<br />Financial considerations- when starting a business you must have enough capital<br />Production considerations- make sure you can supply the needs of the market<br />
  10. 10. Benefits of entrepreneurship<br />1. Opportunity to get control.<br />Owning a firm or a business endows the entrepreneurs with the independence and opportunity to control their own business. They can aim to achieve targets that are important to them. Entrepreneurship provides entrepreneurs a chance to take decisions according to their own wishes.<br />2. Offers a chance to make a difference<br />Some people begin and put a lot of effort just to make a difference in society. This has given rise to the concept of social entrepreneurship, which is a recent phenomenon. Such people search for opportunities to serve a cause that is significant to them and try to find pioneering solutions to some of the most pressing and challenging problems of society.<br />3. To reap high Profits<br />Reaping high profits by being an entrepreneur is one of the most important factors that motivate people to become one and take up all the challenges associated with it. The profits their companies and businesses make play a vital role in any decision made by entrepreneurs. Owning a business or a firm is the best way towards accumulation of wealth.<br />4. Helps people work to their full potential<br />Many entrepreneurs find their work to be extremely enjoyable. They consider their business as an instrument of self-actualization and self-expression. Owning a firm or a business acts as a test for the creativity skills, abilities, and determination of an entrepreneur and is taken up as a challenge towards success.<br />5. Offers a chance to pursue their interests.<br />Most entrepreneurs don’t believe their work to be actual work. Most of them establish businesses closely associated with their interests. As such, there is no particular age for retirement of entrepreneurs.<br />With all these benefits people now consider the alternative of running their own small businesses rather than doing jobs for others.<br />
  11. 11. SWOT ANALYSIS<br />SWOT analysis is a strategic planning method used to evaluate the Strengths, Weaknesses, Opportunities, and Threats involved in a project or in a business venture. It involves specifying the objective of the business venture or project and identifying the internal and external factors that are favorable and unfavorable to achieve that objective. The technique is credited to Albert Humphrey, who led a convention at Stanford University in the 1960s and 1970s using data from Fortune 500 companies.<br />A SWOT analysis must first start with defining a desired end state or objective. A SWOT analysis may be incorporated into the strategic planning model. Strategic Planning has been the subject of much research<br />Strengths: characteristics of the business or team that give it an advantage over others in the industry.<br />Weaknesses: are characteristics that place the firm at a disadvantage relative to others.<br />Opportunities: external chances to make greater sales or profits in the environment.<br />Threats: external elements in the environment that could cause trouble for the business.<br />Identification of SWOTs is essential because subsequent steps in the process of planning for achievement of the selected objective may be derived from the SWOTs.<br />First, the decision makers have to determine whether the objective is attainable, given the SWOTs. If the objective is NOT attainable a different objective must be selected and the process repeated.<br />The SWOT analysis is often used in academia to highlight and identify strengths, weaknesses, opportunities and threats It is particularly helpful in identifying areas for development.<br />
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  13. 13. THANK YOU<br />

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