Question

. Environmental scanning should provide input to strategic decision making? Elaborate.

Answer 1

Answer:

Environmental scanning should provide input to strategic decision making.

Scanning refers to the research that is done before making any decisions in the business operations.

Environmental scanning is a step that looks for the current trends in the market to opt and make possible changes for the smooth functioning.

This plays a vital role in strategic decision making by opening up the scope for a variety of alternatives.

For example  -

If XYZ Pvt. Limited wants to launch a new product line into the existing market. They will first scan the market trends and their demand regarding the particular product.

This scanning will help them to analyze the various factors affecting the product. Like, price, fashion trends, age group factor, etc.

Hence, environmental scanning helps in better decisions making as well as its effectiveness and efficiency decision making.

Learn from more - https://www.toppr.com/guides/business-management-and-entrepreneurship/entrepreneurship-creativity-and-innovation/environmental-scanning/

Answer 2

Environmental scanning provide insights into the decision making of a firm.

Explanation:

• Environmental scanning is important for strategic planning as it provides factors that affect the organization in the future and allow for the relations to expand externally.

• Environmental scanning is a systematic method of surveying and revealing data to identify the SWOT.

• Components of environmental scanning involve scanning the environment for trends, of a marketplace of ministry.

• It also novels finding out the competition between two markets Use if technology and customer that impacts the business in the future.

Learn more about the environmental scanning should provide input to strategic decision making.

• brainly.in/question/13555377 answered by Mustela.