THE ROLE OF

SCANNING,
MONITORING,
COMPETETIVE
INTELEGENCE, &
FORECASTING

Objectives
We should have understand the
importance of scanning,
monitoring, competitive
intelligence, and forecasting in
the business environment.
We should have understand and
classify the strength,
weaknesses, opportunities, &
the possible threats in a
company.

Environmental
Scanning

It is a method for
identifying, collecting
and translating
information about
external influences into
useful plans and
decisions.

Process of Environment
Scanning
Identifying environmental
factors
Scanning & Selecting Relevant &
Key Factors
Defining Variables for Analysis
Using Different methods,
Techniques & Tools
Forecasting Environmental
Factors
Designing Profiles
Strategic position and Report
Writing

Role of Environmental
Scanning
To predict environmental
changes to come
To detect changes already
under way
To allows firm to be proactive

Environmental
Monitoring

Observing environmental changes

to see if an important trend is
merging.
Tracks evolution of environmental
trends.
Hard trends- measurable
facts/events
Soft trends- estimated, probable
events

Environmental
Forecasting

The development of
feasible projections of
what might happen and
how quickly as a result
of changes and trends
detected.

Environmental
Assessing

Determining the timing

and significance of the
effects of
environmental changes
and trends on the firm.

Competitive Intelligence
Define and understand a firms
industry
-Who are we competing
against?
Identify rivals strengths and
weaknesses
- Intelligence gathering (data)
- Interpretation of intelligence
data

S
O T
Strengths

W
Weaknesses

Internal limitations
Internal capabilities
that may interfere with
Intern that may help a
a companys ability to
company reach its
al
achieve its objectives
objectives
SWOT
Analysis
Threats
Opportunities
External factors that Current and emerging
external factors that
the
company
may
Exter
may challenge the
nal be able to exploit to
companys
its advantage
performance

Positi

Negati

S
O T
Strengths

Advantages
Capabilities
Resources, Asset,
People
Marketing- reach,
distribution,
awareness.

Opportunities

Market
developments
Business and
product development

Weaknesses

Lack of competitive
strength
Financials
Timescales,
deadlines and
pressures
Continuity, supply
chain robustness
Threats
Environmental effects
Market demand
Obstacles