Question

Explain benchmarking in the context of environmental scanning.

Answer 1

Answer:

Hope it's correct thank you please mark me as a brain lies

Answer 2

Environmental scanning is the important part strategic business management.

Explanation:

Definition of the Benchmarking:

Benchmarking is the process of designing "the point of comparison". It is a standardized format of working in the business.

Benchmarking in the context of environmental scanning.

• Implicit and explicit ways of gathering the information.
• It is used for assessment of the business and the employees working.
• It supports the decision making and data gathering (later convert into the information)
• To set the new target benchmarks guide the management authority.