Techniques Used For Environmental Scanning

SWOT ANALYSIS PEST ANALYSIS ETOP QUEST

x Internal factors ± The strengths and weaknesses of the organization.SWOT: Studying Internal & External Environment The aim of any SWOT analysis is to identify the key (internal and external) factors which are important to achieve the objective. . x External factors ± The opportunities and threats presented by the external environment.

SWOT Analysis .

y Opportunities and Threats x x x x x x x x x x x x x x Takeovers Market Trends Economic condition Mergers Joint ventures Strategic alliances Expectations of stakeholders Technology Public expectations Competitors and competitive actions Poor Public Relations Development Criticism (Editorial) Global Markets Environmental conditions .

PEST Analysis A scan of the external macro-environment in which the firm operations can be expressed in terms of the following factors: ‡Political ‡Economic ‡Social ‡Technological .

Political ‡ Tax policy ‡ Employment laws ‡ Trade restriction ‡ Political stability Economic ‡ Economic growth ‡ Internal rate ‡ Exchange rate ‡ Inflation rate Social ‡ Age ‡ Health consciousness ‡ Career Technological ‡ Automation ‡ Rate of technology change .

ETOP The preparation of ETOP involves dividing the environment into different sectors and then analyzing the impact of each sector on the organization. . Environmental. Opportunity Profile (ETOP) is an important technique for the organizations to analyse its threats and opportunities and to provide favourable results. By means of ETOP.Threat. the organization knows where it stands with respect to its environment.

Outcomes of ETOP y Dimensions of ETOP  Issue selection  Accuracy of data  Impact studies  Flexibility in operations y .

Nanus y It is a four step processy 1. .QUEST Quick environmental scanning technique y Proposed by B. 3. 2. 4. Observe the major events and trends in the industry Speculate on a wide range of important issue Prepare a report summarizing the major issues and their implications Identify feasible strategic options to deal with the evolving environment.

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