How Can Managers Use Environmental Scanning?
A manager’s analysis of the external environment may be improved by environmental scanning, which involves screening large amounts of information to detect emerging trends. One of the fastest-growing forms of environmental scanning is competitive intelligence, which is accurate information about competitors that allows managers to anticipate competitors’ actions rather than merely react to them.53 It seeks basic information about competitors: Who are they? What are they doing? How will what they’re doing affect us?
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