Determine how to create value and sustain competitive advantage using the environmental scanning strategy.

Business & Finance homework support | Business & Finance homework help

Environmental scanning involves researching, gathering, and analyzing data from both internal and external sources to identify opportunities and threats that may affect an organization’s ability to gain a competitive advantage. It can be used to analyze market trends and customer preferences as well technological developments, regulatory changes, or other factors. This intelligence can be used to strategically align organizations’ operations in order to provide value to customers. For example, they may offer better services or products than their competitors. Or find ways to improve efficiency to make it possible to deliver the same level of quality for a less expensive price. Environmental scanning also provides insight into organizations’ ability to sustain their competitive edge through innovation and rapid response to changing customer requirements.

This is a snippet preview, get a complete custom solution
Access a Complete Custom-Written Paper from Our Writers, Now!!