Scanning
Why do businesses need to study their environment?
To be aware of opportunities and threats
List 3 demographic categories
Age, gender, religion, race, family status, income status
Who should participate in an environmental scan?
everyone
Setting the prime interest rate
To stabalize the economy
overseeing the disposal of hazardous materials
protecting public health
protecting the environment
When should environmental scanning take place?
continuously
List 3 categories of society and culture
Changing family roles
Need for convenience
Change in fitness and health desires
Going green
List at least three tools that can be used to carry out scanning activities.
Surveys
• Questionnaires
• Focus groups
• Informal conversations
• Newspapers, magazines, and trade journals
• Television, Internet and social media
• Market research studies
Requiring emission standards for vehicles
Protecting public health
protecting the environment
setting the fiscal policy
stabilizing the economy
Explain the meaning of this statement: The categories of information in an environmental scan are dynamic.
changing all the time
What are the 2 types of competition and give an example of each
answers may vary
Why is it important for businesses to conduct environmental scans on a regular basis?
since the environment is dynamic and new trends can arise at any time. Scanning on a continuous basis allows your business to act quickly, taking advantage of opportunities before compet
providing aid to dependent children
providing welfare
testing products for consumer safety
protecting consumers and investors
Explain the meaning of this statement: The categories of information in an environmental scan are interrelated.
the factors affect each other
List 3 economic factors
Inflation
• Interest rates
• Unemployment rates
• Tax rates
• Foreign economic conditions
Which factor in environmental scanning is changing most rapidly?
Technology
prohibiting false or misleading advertisments
protecting consumers or investors
providing treatment of sewage
protecting the environment
What factors are considered in an environmental scan?
demographics, society and culture, the economy, competition, government, and technology
List 3 government factors
• Changing laws and regulations
• Monetary and fiscal policies
• Import/Export restrictions and regulations
• State and local laws
• Political climates and stability in foreign markets
Scan your environment right now. List at least 2 factors in your response
answers will vary
Subsidizing mining companies
protect specific businesses
providing dairy price supports
protecting specific businesses