An environmental scanning system for business planning

They sat through a workshop on Manufacturing Scheduling, organized by the Manufacturing Systems Group. The event is part of the joint initiatives by the School of Mechanical Engineering and the respective industries to provide early exposure to students in high value added manufacturing environments. SilTerra Manufacturing System Group, shared their working experience and also conducted the workshop.

An environmental scanning system for business planning

Environment must be scanned so as to determine development and forecasts of factors that will influence organizational success. It helps the managers to decide the future path of the organization. Scanning must identify the threats and opportunities existing in the environment. While strategy formulation, an organization must take advantage of the opportunities and minimize the threats.

A threat for one organization may be an opportunity for another. Internal analysis of the environment is the first step of environment scanning.

Organizations should observe the internal organizational environment. This includes employee interaction with other employees, employee interaction with management, manager interaction with other managers, and management interaction with shareholders, access to natural resources, brand awareness, organizational structure, main staff, operational potential, etc.

Also, discussions, interviews, and surveys can be used to assess the internal environment. Analysis of internal environment helps in identifying strengths and weaknesses of an organization.

As business becomes more competitive, and there are rapid changes in the external environment, information from external environment adds crucial elements to the effectiveness of long-term plans.

Organizations have also to update the core competencies and internal environment as per external environment. Environmental factors are infinite, hence, organization should be agile and vigile to accept and adjust to the environmental changes.

Environmental Scanning - Internal & External Analysis of Environment

For instance - Monitoring might indicate that an original forecast of the prices of the raw materials that are involved in the product are no more credible, which could imply the requirement for more focused scanning, forecasting and analysis to create a more trustworthy prediction about the input costs.

Also, an assessment of the nature, stage, dynamics and history of the industry is essential. It also implies evaluating the effect of globalization on competition within the industry. Analyzing the national environment needs an appraisal of whether the national framework helps in achieving competitive advantage in the globalized environment.

Analysis of macro-environment includes exploring macro-economic, social, government, legal, technological and international factors that may influence the environment. Strategic managers must not only recognize the present state of the environment and their industry but also be able to predict its future positions.CALL FOR PAPERS.

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96 Long Range Planning, Vol. 20, No. 6, pp. 96 to , Printed in Great Britain An Environmental Scanning System for Business Planning R. M. Narchal, K.

an environmental scanning system for business planning

Kittappa and P. Bhattacharya This paper describes a seven-step approach to producing a Business .

Market environment - Wikipedia