Environmental scanning is the process of monitoring an organization's external environment for detecting early signs of opportunities and threats that may influence its performance and potential future. This document discusses various techniques for environmental scanning, including SWOT analysis, ETOP analysis, QUEST analysis. SWOT analyzes internal strengths and weaknesses and external opportunities and threats. ETOP creates a profile of external threats and opportunities. QUEST is a suite of options for environmental scanning used by various organizations to develop a shared understanding of the future and key environmental variables.
ETOP is a technique of strategic analysis and choice which is helpful for the organizations to sustain in competitive environment.
Gluck has developed ETOP technique which involves to divide the environment into different sectors and then analyze the impact of each sector on the organization. Therefore, the strategist can draw a clear picture of different factors providing favorable impact on the organization.
ETOP helps the strategist to prepares profile of the environment by scanning the environment with its threats and opportunities and then formulate the strategy.
ETOP helps organization to identify O-T
It consolidates and strengthens organization’s position
It provides the information to the strategist regarding which sectors have favourable impact on the organization.
It helps organizations to know where it stand with respect to its environment.
It helps in formulating appropriate strategy.
It helps in formulating SWOT analysis
To prepare ETOP it is important to divide the entire organization into different sectors.
Analysing the impact of each sector on the organization.
Subdividing each environmental sector into sub factor.
Impact of each sub factor on organization in the form of a statement.
ETOP analysis provides information about environment threats & opportunities & their impact on strategic opportunities for the company.
The profile contains mainly 3 issues, they are-Forecasting, Verbal - Written information & Management Information System (MIS)
ETOP is a technique of strategic analysis and choice which is helpful for the organizations to sustain in competitive environment.
Gluck has developed ETOP technique which involves to divide the environment into different sectors and then analyze the impact of each sector on the organization. Therefore, the strategist can draw a clear picture of different factors providing favorable impact on the organization.
ETOP helps the strategist to prepares profile of the environment by scanning the environment with its threats and opportunities and then formulate the strategy.
ETOP helps organization to identify O-T
It consolidates and strengthens organization’s position
It provides the information to the strategist regarding which sectors have favourable impact on the organization.
It helps organizations to know where it stand with respect to its environment.
It helps in formulating appropriate strategy.
It helps in formulating SWOT analysis
To prepare ETOP it is important to divide the entire organization into different sectors.
Analysing the impact of each sector on the organization.
Subdividing each environmental sector into sub factor.
Impact of each sub factor on organization in the form of a statement.
ETOP analysis provides information about environment threats & opportunities & their impact on strategic opportunities for the company.
The profile contains mainly 3 issues, they are-Forecasting, Verbal - Written information & Management Information System (MIS)
Environmental Analysis is described as the process which examines all the components, internal or external, that has an influence on the performance of the organization.
Strategic management is the management of an organization’s resources to achieve its goals and objectives.
In this ppt i have a detailed information on Objectives of Business Research
Subscribe to Vision Academy for Video assistance https://www.youtube.com/channel/UCjzpit_cXjdnzER_165mIiw
Environmental Analysis is described as the process which examines all the components, internal or external, that has an influence on the performance of the organization.
Strategic management is the management of an organization’s resources to achieve its goals and objectives.
In this ppt i have a detailed information on Objectives of Business Research
Subscribe to Vision Academy for Video assistance https://www.youtube.com/channel/UCjzpit_cXjdnzER_165mIiw
Environmental scanning is the acquisition 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.
Business Administration CapstoneBUS499The External Environme.docxjasoninnes20
Business Administration Capstone
BUS499
The External Environment: Opportunities, Threats, Industry Competition, and Competitor Analysis
Welcome to the Business Administration Capstone.
In this lesson we will discuss the external environment: opportunities, threats, industry competition, and competitor analysis.
Please go to the next slide.
Objectives
Upon completion of this lesson, you will be able to:
Identify how the six segments of the general environment affects an industry and its firms
Identify the five forces of competition that impacts an industry
Analyze the external environment for opportunities and threats that impact the firm
When you complete this lesson you will be able to:
Identify how the six segments of the general environment affects an industry and its firms;
Identify the five forces of competition; and
Analyze the external environment for opportunities and threats that impact the firm.
Please go to the next slide.
Supporting Topics
The General, Industry, and Competitive Environments
External Environment Analysis
Segments of the General Environment
Industry Environment Analysis
Interpreting Industry Analysis
Strategic Groups
Competitor Analysis
Ethical Considerations
In order to achieve this objective, the following supporting topics will be covered:
The general, industry, and competitive environments;
External environment analysis;
Segments of the general environment;
Industry environment analysis;
Interpreting industry analysis;
Strategic groups;
Competitor analysis; and
Ethical considerations.
Please go to the next slide.
General, Industry, and Competitor Environments
Six Dimensions of Environmental Segments
An integrated understanding of the external and internal environments is essential for firms to understand the present and predict the future. As shown on the figure on the slide, a firm’s external environment is divided into three major categories: the general, industry, and competitor environments.
The general environment is composed of dimensions in the broader society that influence an industry and the firms within it. We group these dimensions into six environmental segments:
Demographic;
Economic;
Political/legal;
Sociocultural;
Technological, and
Global.
The industry environment is the set of factors that directly influences a firm and its competitive actions and competitive responses:
The threat of new entrants;
The power of suppliers;
The power of buyers;
The threat of product substitutes; and
The intensity of rivalry among competitors.
How companies gather and interpret information about their competitors is called competitor analysis. Understanding the firm’s competitor environment complements the insights provided by studying the general and industry environments.
Please go to the next slide.
External Environmental Analysis
Opportunities
Threats
Scanning
Monitoring
Forecasting
Assessing
Most firms face external environments that are highly turbulent, comp ...
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https://nidmindia.com/
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2. WHAT IS ENVIRONMENTAL
SCANNING?
Environmental scanning is an important part of the
business process as it is the responsibility of an
organization to keep a check on things which can put
negative impacts on their business and their
consumers.
Not only the issues which directly impact their
consumers and suppliers but also the issues which
impact the competitors and overall environment of the
industry are scanned.
Having knowledge about the issues in the business
and market changes, management can take
important decision for the future of the organization.
3. PURPOSE OF ENVIRONMENTAL
SCANNING
It is important for an organization to consistently track
the changing trends and to develop strategies
accordingly. It also helps in decision making, for
example, you can learn about the current demands
and expectations of the consumers and produce and
sell products accordingly so that you can expand your
business.
However, in less dynamic organization environmental
scanning can be done once in a year to just to learn
about the issues faced by the organization.
5. SWOT ANALYSIS
Strengths and
weaknesses are an
organization’s internal
factor while threats and
opportunities are
considered as external
factors. So, the process
of SWOT analysis
includes the systematic
analysis of these factors
to determine an effective
marketing strategy. It is a
tool that is used by the
organization for auditing
7. ETOP ANALYSIS
ETOP means environmental threat and opportunity
profile. It is a technique of environment analysis where
organizations make a profile of their external
environment. It analyses information about
environmental threats and opportunities and their
impact on strategic planning process.
It helps to identify strategic opportunities for the
company. Environmental opportunities indicate new
lines of business and threats restrain them from
entering into new business lines. A firm that wants to
manufacture shoes, for example, will prepare an ETOP
to analyze demand for shoes in the market, purchasing
power of consumers, gender composition of market
(male-female ratio), government regulations,
8. ENVIRONMENTA
L SECTOR
IMPACT
[OPPORTUNITY( ) THREAT(
) ]
Socio-Economic Continued emphasis on
infrastructural development
which includes power supply for
industry, transport and domestic
consumption
Severe resource constraints
Technological High growth envisaged in
industrial production and
technology upgradation.
Supplier Sources of technology will
become scarce due to formation
of technology cartels.
Government Liberation of technology import
policy
Competition Customers will become more
discerning in their requirements
due to an increasing role of
power plant consultants.
Public sector will find it
9. QUEST ANALYSIS
QUEST is less a single technique than a ‘suite’ of
options and
approaches.
It has been used in a wide variety of organizations.
These include:
Financial institutions
Manufacturing corporations
Health care organizations
International airlines
Universities and colleges
Government agencies
Non-profit organizations
10. MAIN STAGES OF THE QUEST
PROCESS
Preparation
Environmental scanning workshop
Intermediate analysis and report
Strategic options workshop
Follow-up work
11. BENEFITS OF QUEST
It provides an opportunity to develop a shared view
of future options and eventualities.
It permits the clarification of the underlying mission
or purpose of the organization in relation to specific
environmental changes.
It promotes a greater awareness of the dynamics of
the environment and of the key variables involved.
There tends to be an increase in strategic thinking.
Shifts toward more ‘proactive’ attitudes and
practices are experienced.
The process promotes team building and a stronger
corporate identity.
It strengthens commitment to the strategic planning