Question

What is the term for the monitoring of events both internal and external to the organization that affects strategy?

Answer 1

What is the term for the monitoring of events both internal and external to the organization that affects strategy?

Strategic surveillance

Answer 2

Strategic surveillance is the process of monetary the environment both internal and external.

• Monitoring the internal and external environment is very important for a business firm for the success of the organization.
• It tells us the various opportunities with a business firm can capitalize on. The business firm should be open to changes and opportunities which come on their way.
• Monitoring the business environment also helps to know about the various upcoming threats which may cause a danger to the organisation and can help them to prevent it.